Gun Insurance?

[rawhide]

I've learned that my insurance doesn't cover much if any for firearms. I have the NRA ArmsCare basic and have looked at the cost for the Plus option as well as browsed collectinsure.com.

What other options and/or recommendations are available?

 

[AKguy1985]

I think patrick has mentioned Lloyds of london as insuring guns.

 

[tRidiot]

Try here?

https://www.historicfirearms.com/?page_id=20

 

[FullAuto]

Historic will have the best rates. But if you are insuring less than $18k, go with collectinsure.com. Historic is cheaper rates, but they have a minimum policy of $125/yr (which is actually a $35k policy with them). Collectinsure will cover the lower policies for less because they don't have a minimum premium that high. Their rates are higher though so it's cheaper to buy the minimum policy from Historic than to cover $20k from collectinsure. So if you're just wanting $10k or $15k, you can get it at collectinsure for less than Historic's minimum.

 

[Boehlertaught]

What info do these folks require to issue a policy?

 

[FullAuto]

What info do these folks require to issue a policy?

Historic wants you to schedule any single guns above $10,000 in value but do not require serial numbers. But their highest blanket coverage is $10k. So if you have a few $2k+ guns that will eat up that $10k quickly, then you need to schedule those and use the blanket coverage for several smaller items. Any single gun over $50k needs an appraisal.

Collectinsure wants you to schedule single items over $5k. There isn't a blanket coverage limit though. You simply buy how much you want and schedule the guns over $5k. I'm pretty sure they don't require serial numbers either.

Unless your collection is fairly large, collectinsure is likely the better deal.

 

[FullAuto]

I forgot to mention Historic will give you a 5% discount if you're an NRA member. I'm not sure if that's 5% off their $125 minimum annual premium though. It may be.

 

[tRidiot]

Historic wants you to schedule any single guns above $10,000 in value but do not require serial numbers. But their highest blanket coverage is $10k. So if you have a few $2k+ guns that will eat up that $10k quickly, then you need to schedule those and use the blanket coverage for several smaller items. Any single gun over $50k needs an appraisal.

Collectinsure wants you to schedule single items over $5k. There isn't a blanket coverage limit though. You simply buy how much you want and schedule the guns over $5k. I'm pretty sure they don't require serial numbers either.

Unless your collection is fairly large, collectinsure is likely the better deal.

Ok this I don't really understand... Their minimum is $35,000, right? So... that's not blanket coverage? If I have 20 guns at $1,000 value each, maybe 10 at $1,500 each, that would hit around their $35,000 limit. So would I be required to "schedule" those guns? By which I am understanding "schedule" to mean listing it as a specific item (sans serial #). I don't know, maybe I'm just reading too much into this.

I know for a fact I need to up my coverage... I think my homeowner's policy only covers up to $5,000 or $7,000, and I was thinking my agent said they won't add a rider above that. Shelter insurance, if that helps. Don't quote me on that, though, I don't remember. It's been a couple of years, and my collection has more than doubled since then, so I need to get on the ball.

 

[Lurker66]

Ok this I don't really understand... Their minimum is $35,000, right? So... that's not blanket coverage? If I have 20 guns at $1,000 value each, maybe 10 at $1,500 each, that would hit around their $35,000 limit. So would I be required to "schedule" those guns? By which I am understanding "schedule" to mean listing it as a specific item (sans serial #). I don't know, maybe I'm just reading too much into this.

I know for a fact I need to up my coverage... I think my homeowner's policy only covers up to $5,000 or $7,000, and I was thinking my agent said they won't add a rider above that. Shelter insurance, if that helps. Don't quote me on that, though, I don't remember. It's been a couple of years, and my collection has more than doubled since then, so I need to get on the ball.

Boaters insurance and waterproof cintainers.

 

[FullAuto]

Ok this I don't really understand... Their minimum is $35,000, right? So... that's not blanket coverage? If I have 20 guns at $1,000 value each, maybe 10 at $1,500 each, that would hit around their $35,000 limit. So would I be required to "schedule" those guns? By which I am understanding "schedule" to mean listing it as a specific item (sans serial #). I don't know, maybe I'm just reading too much into this.

I know for a fact I need to up my coverage... I think my homeowner's policy only covers up to $5,000 or $7,000, and I was thinking my agent said they won't add a rider above that. Shelter insurance, if that helps. Don't quote me on that, though, I don't remember. It's been a couple of years, and my collection has more than doubled since then, so I need to get on the ball.

You are correct on the first part. I was wrong. I was interrupting it incorrectly when I filled out their application earlier this week. It says their blanket coverage has a maximum amount of $10k but that's per item and not total. All they met was at $10k, the item would not fall under blanket but need to be scheduled. But you can purchase as much blanket coverage as you'd like (at $500k there are additional requirements). I had scheduled a couple of my Mac's that they said I could remove off the schedule since I had them listed under $10k.

I just got off the phone with them and clarified that part of it because I have enough regular pistols and rifles to easily go past $10k total, but aren't that expensive individually. So I just modified my application over the phone to increase the blanket coverage over $10k.