Replacement value for AR Lower & S&W 34-1

[jedi]

I'm in the process of putting my firearms on a "rider" on my home owners insurance with State Farm. They need me to make a list of all the items I want to insure along with replacement value.

I'm a little at a loss on 2 of my firearms.
1) Delaware Machinery AR Stripped Lower
2) Smith & Wesson Model 34-1 Revolver (.22LR)

The DM lower will that company no longer makes lowers. So if I had to replace it with another lower (my understanding is this lower was high end quality) what high end quality lower would I get. Make and cost please.

For the S&W the 34-1 model is no longer in production so I would be looking to replace it with another 6 shot .22 LR revolver. Any suggestions? Again make and cost please.

As for the rest my my plan was to go to the local gun store (Blythes) and ask them to give me their current price for each of the items. Yes I can probably get the same stuff online for less even when you factor in the $20 FFL transfer fee but figure if I insure for what "the gun store" will charge then I'll have enough show I not be able to find it online.

Good enough of a plan?

Also some of my guns I have modified with sights, stocks, etc.
For example my 10/22 has the Tech Sights so I should include that in the cost of my gun right? Since if it is lost and I get a replacement I'll need to buy the sights again.

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[JoshuaW]

Get on Gun Broker and see what the price would be for each item. Items that are out of production you may still be able to find.

Personally, I would talk to the agent and see if you can just submit a list of models and serial numbers and an approximate total value. Guns go up, guns go down. If the elections next year start to get shaky, prices could sky rocket. You wouldnt want the insurance agent trying to only give you a portion of what it actually costs to replace it, just because a year ago when you valued everything it was much cheaper.

Same answer on accessories, make sure they will cover them. They may want you to list scopes and accessories on their own value sheet.

 

[DRob]

State Farm

I have a State Farm policy, separate from my home owner's policy, to cover my guns. The premium is based on the dollar amount I provide, not on any appraised, market, or replacement value of the guns. If I call the gun $2000, I'm simply buying $2000 worth of coverage and that's what they'll pay for a covered loss of that gun. Your call.

 

[jedi]

I have a State Farm policy, separate from my home owner's policy, to cover my guns. The premium is based on the dollar amount I provide, not on any appraised, market, or replacement value of the guns. If I call the gun $2000, I'm simply buying $2000 worth of coverage and that's what they'll pay for a covered loss of that gun. Your call.

My rep quoted me $1.60 for every $100 in coverage. So based on that that is why I'm not sure how much those 2 items are worth. The AR Lower and a new revolver similar to that one.

 

[Flintlock]

I thought those lowers were being blown out for $60 or $70 after that company stopped making them? Didn't seem too high end to me.

 

[Robertson]

DM lower : $75

S&W 34-1 : $450

 

[jedi]

I thought those lowers were being blown out for $60 or $70 after that company stopped making them? Didn't seem too high end to me.

By "high end" I meant that I was under the impression that the quality of the lower was high-end meaning it was very well machined and many people gave the DM company very high praises for a well machined piece of metal. That is what I meant.

So my original question should have been show much do I need (money wise) in order to buy a new AR lower and what brand should I buy that is a high-quality machined lower.

DM lower : $75

S&W 34-1 : $450

They don't sell the 34-1 anymore (retail) so the $450 is going to buy me what? Do you have a comparable model I can use on the list?

Thanks!

 

[ghitch75]

34-1 blued 100%...550.00+

34-1 nickel 100%....600.00+

i would and 50 to each for insure as you said they don't make them anymore and you might have trouble findin' one....

 

[DRob]

Doesn't matter

The point I was trying to make is that it doesn't matter one bit what the guns are, were, or ever will be selling for. You put a value on them and that is what they are insured for!

 

[jedi]

The point I was trying to make is that it doesn't matter one bit what the guns are, were, or ever will be selling for. You put a value on them and that is what they are insured for!

Thanks DRob for that clarification. But I guess I'm still confused to a point.

Yes I know I can say that the DM AR lower is worth $1000. And the insurance will happily charge me for $1000 worth on that AR lower. But you and I both know that it does not cost $1000 to get an AR lower. So my question is How much willl it cost (in today money) to buy a new AR lower that is of similar quality to the DM lower.

I also understand that one year from now an AR lower may cost MORE or LESS and thus may have to re-adjust my AR value next year when I renew the floater.

In terms of the S&W 34-1. That revolver is no longer in production or what is a comparable model to it? I'm not a revolver guy (that firearm belong to my grandma and was gifted to me by my dad when my grandma passed away this year). So if I lost it how much $$$ would I need in order to buy something similar. & since I'm not a revolver guy what make/model is that something similar.

Thanks all for your help so far.

 

[BE Mike]

A used S&W model 34-1 in top condition will cost you around $550 today. The Blue Book is notoriously low regarding S&W revolvers. Not sure about the lower, but a similar one should run around $150-$160.

 

[fireball168]

Depending on what your collection is worth, you might find the pricing & service better with someone who specializes in such things (and has a stellar reputation).

You can also save yourself the hassle of itemizing anything valued at less than $10k.

Core-Vens Insurance

http://www.corevensguninsurance.com/graphics/Insurance_Pricing_Example.jpg

 

[ryknoll3]

Thanks DRob for that clarification. But I guess I'm still confused to a point.

Yes I know I can say that the DM AR lower is worth $1000. And the insurance will happily charge me for $1000 worth on that AR lower. But you and I both know that it does not cost $1000 to get an AR lower. So my question is How much willl it cost (in today money) to buy a new AR lower that is of similar quality to the DM lower.

I also understand that one year from now an AR lower may cost MORE or LESS and thus may have to re-adjust my AR value next year when I renew the floater.

In terms of the S&W 34-1. That revolver is no longer in production or what is a comparable model to it? I'm not a revolver guy (that firearm belong to my grandma and was gifted to me by my dad when my grandma passed away this year). So if I lost it how much $$$ would I need in order to buy something similar. & since I'm not a revolver guy what make/model is that something similar.

Thanks all for your help so far.

On the AR lower... throw $150 worth of coverage on it. This will basically get you most any decently priced lower out there.

If you want what's considered top-of-the-line in forged lowers, a Noveske sells for about $185. Factor in shipping and transfer and you're at $225.

Personally, most forged lowers are pretty similar. The Spike's Tactical lowers have really nice fit and finish and you can get them for $80 from AIM. With shipping and transfer, $120.00