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This is a discussion on Home Owners Insurance (for guns) within the Collectors forums, part of the Firearm Forum category; Not sure what forum to put this in... thought I would try here. In renewing our home owners insurance policy I noticed that our coverage ...


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Old December 17th, 2019, 03:25 PM   #1
 
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Home Owners Insurance (for guns)

Not sure what forum to put this in... thought I would try here.

In renewing our home owners insurance policy I noticed that our coverage for firearms was only $1,500. I talked to my agent about increasing it to a level that would cover all of my guns...at an additional cost of course.

Today I received a message from him saying that I would need to supply with a detailed list of my guns including make, model, serial number and value.

To those of you with coverage for your guns...is this normal to require such specific info?



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Old December 17th, 2019, 03:37 PM   #2
 
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Originally Posted by RugerFan1911 View Post
Not sure what forum to put this in... thought I would try here.

In renewing our home owners insurance policy I noticed that our coverage for firearms was only $1,500. I talked to my agent about increasing it to a level that would cover all of my guns...at an additional cost of course.

Today I received a message from him saying that I would need to supply with a detailed list of my guns including make, model, serial number and value.

To those of you with coverage for your guns...is this normal to require such specific info?
That is true to state farm and I do not use their coverage because I just dont think I want a list of my belongings on the state farm main frame and subject to view and hack by who knows, remember anything in cyber space is not at all safe in my opinion, not sure of all your options but if you are an NRA member you automatically have coverage to something like 1500 (not sure on exact amount) then you can buy add on coverage through their affiliate I think its locton affinity and you dont have to provide a list. Im sure someone can clarify the info and provide other options, I am just responding based on memory
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Old December 17th, 2019, 03:48 PM   #3
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RugerFan1911, I went through the same drill with my homeowners insurance company. It is not unusual for me to buy or sell a couple firearms when the urge strikes me so in addition to what you stated, the insurance company wants all changes to be made as they occur. Each change affects the cost of insurance so I decided it was a bad plan and very expensive …. about 10% of the total collection value per year. At that rate, having a couple guns stolen every year is more cost effective than insurance.

Rather than insure my guns, I decided to spend the money on a couple really good safes. Buy once, cry once. That was about 18 years ago so by now, I have paid for the safes several times over in money I saved from not having insurance. One thing to note ….. my homeowner's insurance also covers up to $1500 for guns so if I had just one or two guns lost or stolen …. on or off my property, I can still make a claim that would likely cover my loss.
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Old December 17th, 2019, 03:57 PM   #4
 
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To those of you with coverage for your guns...is this normal to require such specific info?
I have USAA and they require specific info
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Old December 17th, 2019, 04:46 PM   #5
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Insurance companies are to nosey, who knows where that information goes. Could be passed on to a crook. Firearms information is nobody's business but your own.
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Old December 17th, 2019, 04:48 PM   #6
 
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I’m not sure if every state is the same, but in NC there are 2 types of home owners insurance. One is the HO3 and it covers I think $2500. The other is an HE7 and it covers $10,000. I have the HE7 and did not have to list any firearms or serial numbers. Like I said that’s here in NC and I’m not sure of other states but ask your agent about an HE7.

As stated before, if you are a NRA member you have additional insurance on your guns. They also have a policy you can get by determining how much coverage you want in a dollar amount and you don’t have to list your guns.
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Old December 17th, 2019, 05:47 PM   #7
 
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My insurance not only wanted the make, model, "type" and serial number of each firearm but they also wanted proof of ownership and if the firearm was older than 5 years they wanted proof of value with appraisal in the last 5 years (and refreshed every 5 years on).

My spot has a beautiful view and great location in the city but the neighborhood is more than a little questionable at times and I don't have the space to put in a proper safe. Someone has attempted to break in at least once since I've lived here. I store my firearms in a closet with a solid lock placed on it, but the door is a flimsy interior one that wouldn't stop anyone dishonest and slightly determined.

So I purchased a 'valuable personal property policy' that covers my firearms. My policy is bundled with renters insurance and a few other items and while it was extremely intrusive as far as paperwork the cost was not a lot. About 1.5% the cost of the collection was what it amounted to annually in the increase on my premium.

While in theory I dislike the idea of someone have a list of every firearm I own, I figure my insurance company has relatively good cause for wanting that information. They'd want that same info if insuring a guitar, a car, stereo system, computer, etc etc. So I'm just not particularly offended.

If it ever comes a time that big brother is demanding my insurance company hands that information over... well jeez, those will be dark times... My insurance agent knows I'll be well prepared
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Old December 17th, 2019, 07:38 PM   #8
 
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I was an agent for farmers for some years and they did require serial number. I also had the same situation when I owned a home. That is why I always carried nra firearms insurance as they did nto require that except on guns over 10k or so.
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Old December 18th, 2019, 03:21 AM   #9
 
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My guns are covered with a rider to our home owners insurance, just like jewelry, and some some other collectibles that we own.
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Old December 18th, 2019, 03:28 AM   #10
 
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Insurance companies are to nosey, who knows where that information goes. Could be passed on to a crook. Firearms information is nobody's business but your own.
I disagree here. They need to avoid scams like the rest of us. So they need evidence before a policy holder makes a claim. I keep photos, proof of purchase, and serial numbers.

I did, however, switch companies when they said “no wood stove,” which is how we heat our home. Told them why, too.
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Old December 18th, 2019, 05:49 AM   #11
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My agent told me they needed a detailed list of my firearms which I refused to provide them with. I went with the NRA Insurance which is Lockton Affinity. A detail is not required. If you have an individual firearm greater than $1500 then you have to provide details. It is short money and I keep a detailed list with serial numbers and estimated value in my own records. I also have a safe.

As a side note if the insurance company has a list it then can be provided to any Gov agency that requests it either voluntarily of by subpoena.
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Old December 18th, 2019, 05:58 AM   #12
 
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I too have looked at an insurance rider for my guns. However, the cost is so prohibitive that I elected not to. Like Iowegan, I have a couple GOOD safes. My safes are the "biggest" made by Liberty. They are 72.5"X42"X32". Why? Two reasons. Safes are like pole barns. It doesnt matter how big it is, two weeks later you will wish it was bigger. Second, its harder to move. They wont go up or down the basement stairs and in order to get them in, we had to take the slider out of the walkout basement and even unloaded, they are too big to move with normally available dollies, etc. Also, they are in a part of my basement that has all my hunting/shooting/reloading benches, shelves racks, etc. Why do I bring this up? Well, by a potential thief wont be able to take the safes with them, that means that they have to break into it in the house, so that means time. I know that if someone is determined enough, a thief can get in. Well, in other threads I have talked about having exterior cameras on the outside of the house. Well, I also have one on the shooting section of my basement. Sure, theft is one reason, but the other reason is I have two small boys, now 1 and 4. So, especially as they get older and more curious, I want to make sure they are safe. So, moral of the story. If someone breaks into the house with the intent of stealing my guns, and lets face it with a safe it is a targeted attack, not a random smash and grab, it will take time to get in the safes. I work less than 10 minutes from my house so I will have alerts to my phone where I can call the cops while I am getting in my truck to go home. Best I can do and more cost effective than insurance.
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Old December 18th, 2019, 06:19 AM   #13
 
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My agent told me they needed a detailed list of my firearms which I refused to provide them with. I went with the NRA Insurance which is Lockton Affinity. A detail is not required. If you have an individual firearm greater than $1500 then you have to provide details. It is short money and I keep a detailed list with serial numbers and estimated value in my own records. I also have a safe.

As a side note if the insurance company has a list it then can be provided to any Gov agency that requests it either voluntarily of by subpoena.
I did the same. Other benefit is that they are supposed to cover theft from a vehicle (so long as the vehicle was locked).
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Old December 18th, 2019, 06:34 AM   #14
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I did the same. Other benefit is that they are supposed to cover theft from a vehicle (so long as the vehicle was locked).
Didn't know that. Thanks. I generally don't leave a firearm in a vehicle but when we travel I will have a few with me.
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Old December 18th, 2019, 06:42 AM   #15
 
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To those of you with coverage for your guns...is this normal to require such specific info?
Of course, they do the same thing with jewelry or other items like computer equipment. Mine will pay to the limits of $5K on these items; anymore than that and I have to buy more insurance. It is their business to know what you have and what they are insuring; should they have to pay a claim. Some want pictures and on some items, they may possibly want appraisals. When I insured a collector car, they required that I bring it to the office, they photographed that car all over and copied the documentation I had.

To say “I want you to insure my gun collection, but it’s none of your business what’s in that collection” doesn’t make sense to me.
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