Gun Insurance

[jtw1952]

With the wildfires going on in Colorado and since I live in the foothills just west of Denver, I looked at updating my insurance...both overall and specific gun coverage.

If you are an NRA member, you can get their $2,500 free coverage for your firearms...but you have to explicitly sign onto it. I checked into ArmsCare, who is the company that underwrites the NRA insurance. They now offer full replacement coverage, firearms over $2,500 in value need to be scheduled but no serial numbers are required.

I have my renters insurance through Liberty Mutual, which I find to be a great company, and my agent said that his coverage would be 4 times as much as ArmsCare charged for the same coverage on firearms.

I found that, with the adiministrative fee of $15, the coverage came to $13.13/$1,000 of coverage. I thought that was pretty good.

I just thought I would share my experience for anyone who might benefit from the information.

Jeff

 

[jtw1952]

DUH! For those interested, the ArmsCare website is http://www.locktonrisk.com/nrains/ArmsCarePlus.htm

Jeff

 

[ronsroom1]

The KEY words here are,"my agent said".
Make sure it's in print and read all the disclaimers, what's mot covered, and why. Be aware of what a Natural Disaster is, and its coverage, if any.

Ron

 

[jtw1952]

Ron:

Agreed...what the agent says, doesn't mean squat. You have to read the actual language of the policy. I called ArmsCare and talked with Stacy about a couple of questions I had on the wording and was satisfied with the wording and the answer.

As always...Buyer Beware!!!

Jeff

 

[fdshuster]

Jeff: If the coverage is what they say it is, that's a good deal. I've had the NRA coverage for many years now & the rate is approx. $17.50 per $1000 of coverage. Checked other sources & the rates are all pretty much the same.

Adding a firearms collection, stamps, coins, etc. to an existing homeowners policy is a lot more costly & more hoops to jump thru.

 

[fredhorace77]

dont know if NRA is still using the same insurance company it did in 1994 but i had a terrible expirence with them...I filed a claim on several guns that had been stolen and when my claim was sent to them i gave it a couple weeks and then called them. They kept telling me several different stories everytime saying I didnt provide enough info or I didnt file form correctly..Then all of a sudden they told me that since I didnt have everything exactly correct that i had missed the deadline for filing a claim..needless to say I didnt get anything from them...I then filed it with my personal insurance and they paid...minus my deductable of course. I dropped NRA after this and 3yrs. later when they called to ask me to join them again I said no way....The woman stopped me and said is it because of our insurance company and i said yes...she told me we have been having alot of complaints about them...She said they were looking into changing companies but i never learned if they were able to..I told her if NRA gets a different company to represent their insurance id be glad to join them back...thats been several yrs ago..havent checked on it lately