Insurance & Firearms question

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My wife and I are looking at switching insurance companies for our Vehicle and Home policies, and we're strongly leaning towards Geico. Has anyone ever had to file a homeowner's insurance claim to get reimbursed for firearm theft/fire loss? Do you have to have receipts for all of your firearms? My dad gave me a couple guns, and those were given to him by his dad - thus, we don't have receipts. Is high-resolution photographs and serial numbers enough to get reimbursed for loss? I've never filed a claim before.

[WildBill]

Most home insurance policies have a maximum for guns of around $2000. If you want to insure for a higher value you have to buy a seperate rider. This is true for jewelry, electronics and cameras as well. For those items that you don't have receipts an appraisal might be helpful.

P.S. If you don't already have one, I believe that a safe is a better investment than insurance.

[joe817]

Most home insurance policies have a maximum for guns of around $2000. If you want to insure for a higher value you have to buy a seperate rider. This is true for jewelry, electronics and cameras as well. For those items that you don't have receipts an appraisal might be helpful.
P.S. If you don't already have one, I believe that a safe is a better investment than insurance.

Well put W.B. You said it all.

[mr surveyor]

I remember when the total payable for all collectables $500, but that was from an bad experience in 1986.

No matter what the collection is, take pictures of the items themselves and any other proof of ownership/value.

Now, with digitl cameras, there's no reason to lack information for insurance purposes. I take (multiple) pictures of all my guns (at least one with the serial number visible), all the accompanying paper work, sales receipts, boxes, cases, and often hand written notes. If they were purchased in a FtoF deal, I write out a description of the transaction. I update this everytime I buy or sell a gun from the collection. Burn to CD and keep for records.

With the puny cap on collections, you almost need to purchase an additional rider for your guns, and you may have to keep the policy updated for insured value. Good documentation is invaluable.

surv

[particle]

Thanks everyone - will definitely be adding additional coverage for the firearms. I use a little program to record my firearm information - I think it's called GunSafe. I keep that file archived on a portable drive that goes with me every time I leave the house (carry it in my Versipack with my .45), and I also photograph and archive the photos on my online photo site (SmugMug). Receipts are by biggest concern. I'm pretty sure my FFL keeps records of my purchases, and I keep my own copies as well, but the guns I don't have receipts on are what concerns me the most.

Anyone have good experiences with a particular insurance company? We currently using Farmers, and it seems we've been WAY overpaying compared to some of the other companies out there. Car insurance - we'll pay HALF what we're currently paying to Farmers. Homeowners - we'll save big also.

[pbwalker]

Anyone have good experiences with a particular insurance company?

If you qualify, you should absolutely check out USAA. Best customer service I have ever dealt with! And their prices are great as well.

[joe817]

The NRA offers gun insurance, I think it's free just for being a member:

http://www.nraendorsedinsurance.com/" onclick="window.open(this.href);return false;

[mr surveyor]

for receipts of those guns you inherited, or bought F2F, hand write a description of the gun, the date (or as near as possible you got it) from whom you got it (even if it is "just a guy at a gun show"), the amount you paid, or actual value at the time you took possession. Either take a pic of it, or store a scan/PDF file so that most anyone can view it. Digital records are great. If need be, then enough info is archived to let you or the insurance comapny do a search of current values in the event you have a claim.

surv

[CleverNickname]

I've used Historic Firearms for a couple years. Mid-5 figures worth of guns runs me about $200/year. They don't want serial numbers and you only have to list specific guns if they're worth over $10,000. Luckily I've never needed to make a claim with them, so I can't speak to that.