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Firearm Insurance with customs?

MikeMcCasland

Team Texas F-T/R
Hey Guys,

I'm in the process of redoing all our insurance policies, and wanted to get a personal policy for firearms. In the process of talking to my agent, they're wanting receipts for whole firearms. The problem is most of my stuff is all custom, with piecemeal receipts if I still have them at all. I've never outright paid for a turn-key custom rifle...it's always buy the stuff separately and bring it to the gunsmith (usually because I can get it faster).

I'm sure some of ya'll have run into this before. Did you have to get them appraised? If so, I can't imagine most gun appraisers know much about F-Class guns. Did you have trouble with your niche being a little too obscure? It's not like I have a safe full of Ruger Americans lol.

Thanks,
Mike
 
571 352 7097 This is the number you want to call for insurance on your guns, you will be very surprised.
LitLBoy
 
I use Eastern Insurance. No appraisals, no individual itemization unless above $10,000 item value. You give a blanket total value and they give you a price. Also Covers scopes, etc. They also have riders for ammo, components, and reloading equipment. There's no way my home owners would pay to replace my reloading room in the event of a total loss. Very reasonably priced.

My home owners also wanted individual appraisals. No thanks.

Historic Firearms, Collectibles, and Sporting Arms Program at 1-800-545-9326.
 
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I was going through this same thing several years ago on my guns and was told it’s not a good idea to carry a rider on your homeowners. In the event of a claim your homeowners policy will probably go up if in fact you don’t get dropped and finding another homeowners policy will be expensive. I’d venture to say that most big name insurance companies aren’t very gun friendly. Probably best to go through a company that specializes in firearms insurance.

John
 
I've done appraisals for people of some large collections. One of those came in handy later, as he lost everything in a fire. He had my appraisal in a safe place and turned it in to his insurance company. In his case, they accepted my appraisal with no real questions asked. I do recall someone calling me from his insurance company to verify things. I don't recall details but they were very basic questions for me, mostly to verify that the appraisal was for real and that I had in fact done it..not something the customer made up and printed off on his own. They paid him full appraised value and it was only a year or so old so no appreciation of values to speak of. It was for something over $125,000 in all.
 
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my SF told me to show what each type of gun sold for like on GB or the like. Then that is what they will insure them for.
 
Eastern is what i have. 40k for less than 150 i believe.
it includes reloading stuff, scopes, cases ...
No itemization ... Keep good records, imo
 
There is a policy called "agreed value". Basically, you tell them what you want to get paid should something happen, and they figure out a premium. The agreed value is the replacement cost of the item agreed between you and the insurance company.
 
From my experience, avoid a rider on your home owners as others have also suggested to avoid. It will be 2-3X what you can get the insurance for from others. And check, but most home owner policies are going to depreciate the value of the firearm with time, when in fact they are appreciating in value.

I've seen previous threads like this come up, and I have inquired with the suggested insurers. To date, none has been better than the coverage/cost I get with Lockton Affinity LLC. They became the provider for gun insurance once Carpenter stopped being the NRA carrier.

I prefer to not provide the itemized list with serial numbers some request for obvious reasons.
 
Call the company named “X insurance” and get an agreed value policy. They are about the only gun friendly company anymore. They insure everything from a parachute jumper, to a cat cancer policy, to a concert or childs birthday party with a bouncehouse.
And, prolly cheaper than you homeowner carrier. If their agreed value policy is truly that, it is a positive. Agree on the value with the company, get paid that value if total loss.
 
I use Eastern Insurance. No appraisals, no individual itemization unless above $10,000 item value. You give a blanket total value and they give you a price. Also Covers scopes, etc. They also have riders for ammo, components, and reloading equipment. There's no way my home owners would pay to replace my reloading room in the event of a total loss. Very reasonably priced.

My home owners also wanted individual appraisals. No thanks.

Historic Firearms, Collectibles, and Sporting Arms Program at 1-800-545-9326.
+1 for Eastern Insurance. Researched several companies and they are the best and most reasonable to deal with.
 
+1 for Eastern. In addition to being a good value, I read a story or two about them paying out without too much trouble after a mishap.
 
I had a Remington 700 custom stolen and luckily had receipt emails for every upgrade because they wanted to give me $600 for a Remington 700. When I emailed all the parts list with the email receipts, they gave me 80% of the new parts value. I think I ended up with $3600 from insurance (half that was from the scope that was on the rifle).
Be careful out there!
 
Problem with the Insurance Services Office (ISO) Homeowner 3 form is there is a dollar value limit on firearms theft. Only theft, not if you lose them by fire. I believe that dollar limit to loss by theft is $5000. Then there is the issue of loss settlement...replacement cost(you need an RC contents endorsement usually to effect this loss settlement method) or actual cash value, which can differ by state. Insurance forms are state regulated and they can differ significantly. As always, read your insurance policy.
 

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