Insuring Firearms

[Bigkeger]

So, I did a pretty in depth search and hadnt seen where anyone posted anything about it so......

Any suggestions for insurance companies that insure firearms?

Specifically looking to see who added guns to their homeowners versus going to a third party collector insurance company.

Any companies to avoid?

Problems with claims?

Thanks for the help.

 

[IndyGunworks]

NRA... i am pretty sure they are the only ones that dont require serial numbers.

 

[VERT]

Mine are insured through my homwowners. I will admit that the standard coverage is no longer enough and I will need to add additional coverage. Never had a claim so can't comment on that. I would talk to your insurance agent.

 

[VERT]

NRA... i am pretty sure they are the only ones that dont require serial numbers.

My insurance company has never asked for serial numbers. Though the standard policy only covers up to a certain level. I do have a record of serial numbers in a fire safe.

 

[1946]

If it's current run firearms, you might want to think about what value to put on each one. Insurance companies can usually get replacement items at cost, or close to it.
So if manufacturer says $xxxxx suggested retail and you insure for that amount, you might be overvaluing if you use that as insured value. That in turn will affect what your premium will be.

 

[Naptown]

Nationwide is NOT on your side regarding firearms. Not sure about residential coverage, but I can GUARANTEE you don't want them to know you are a firearm owner if you are looking for business General Liability insurance. Just saying...

 

[standeford]

State Farm doesn't require serials, at least not for an increase on an existing homeowner's policy.

 

[JohnP82]

Very good thread! I have often wondered this myself. Looking forward to the responses.

 

[IndyGunworks]

Nationwide is NOT on your side regarding firearms. Not sure about residential coverage, but I can GUARANTEE you don't want them to know you are a firearm owner if you are looking for business General Liability insurance. Just saying...

haha... they would crap when they found out i am an FFL out of my home then...


i urge you guys to look into your standard homeowners... i remember reading in quite a few places that it will only cover up to 1k in firearms... i know many many of us have more than that in our homes... if you want to insure anything more, they require a "firearms" rider, in which they want gun make model, and serial number...

i might be wrong on this, but i would at least check on it, rather than assuming you are covered.

 

[VERT]

State Farm doesn't require serials, at least not for an increase on an existing homeowner's policy.

Interesting, State Farm is my provider as well. The standard homeowners policy covers both firearms and jewlery up to $5000 each. Extra coverage can be added, but I do not know how much it costs. I have never had a State Farm agent even raise an eyebrow whenever I asked about coverage on firearms. Been with them for 13 years.

 

[johnh]

When I insured my house They ask about all my firearms and where they were and if I had a safe. I asked and they said to keep my serial numbers for a jic.

 

[Hondo]

I own my own independent insurance agency....most all companies will allow you to add guns to you policy...depending on total value some may require that you have a safe.etc...most don't require serial numbers.

As noted above for modern firearms the company will replace them at thier cost...for older or antique items they may require you to get an appraisal just like jewlery to verify condition and value of the gun...some may require photos.

I am sure most of you know there are certain limits that all companies auotmatically include in their policy and for many this is not enough and the coverage may be limited in perils insured...Scheduling is always reccomended and is usually not too expensive.

I have and reccomend a home central station monitored burglar/firealarm...after initial installation it usually costs only about $30 to $35 a month for the service and your home owners policy will give you a discount to offset some of the cost.

 

[GregD]

My homeowner's policy is with State Farm. The basic coverage you get is very small. I added a rider policy that is very reasonably priced. They didn't ask for number or anything, just have proof of ownership if you have a claim.

 

[Hondo]

For anyone who is running a business out of their home theyhad better check their policies carefully...many homeowner policies will not cover any losses that come from the business unless they know about it and charge a premium for the exposure.

Depending on the size of the business and exposures they could exclude all lossses including fire and liability claims if they were not informed about the business....this means if you have a sever claim you could lose everything, not just the business stuff.

Small business policies are easy to optain and a not expensive....

 

[k12lts]

haha... they would crap when they found out i am an FFL out of my home then...

I'm an insurance agent too and Hondo is right in his post above. Most all homeowners policies have a business exclusion and if they find out after a claim that you run any kind of undeclared business out of your home they can deny the entire claim on personal property and the structure itself.

You would crap then.

 

[IndyGunworks]

For anyone who is running a business out of their home theyhad better check their policies carefully...many homeowner policies will not cover any losses that come from the business unless they know about it and charge a premium for the exposure.

Depending on the size of the business and exposures they could exclude all lossses including fire and liability claims if they were not informed about the business....this means if you have a sever claim you could lose everything, not just the business stuff.

Small business policies are easy to optain and a not expensive....

I'm an insurance agent too and Hondo is right in his post above. Most all homeowners policies have a business exclusion and if they find out after a claim that you run any kind of undeclared business out of your home they can deny the entire claim on personal property and the structure itself.

You would crap then.

and thats why my 2010 rates are going to be higher than my 2009's thanks for the heads up guys... i will be calling my insurance agent monday... how much should i expect to pay?

 

[1946]

If memory serves me right, the cost for a rider on firearms runs somewhere in the 20 to 30 cents per $100 of insured value.

 

[hickuleas]

I have American Family Insurance. They don't require serial numbers. Am/Fam has been good to me but i have had no firearm claims.

 

[U.S. Patriot]

I have State Farm for my renters insurance. I had them add extra coverage for my firearms. Never have had to file a claim. No serial numbers required.

 

[IndyGunworks]

I have American Family Insurance. They don't require serial numbers. Am/Fam has been good to me but i have had no firearm claims.

american family told me that anything over 1000 dollars will require a firearms rider, in which they would need serial numbers.