Personal property insurance and your firearms

[ScubaSigGuy]

I was thinking last night while updating some records that the values that many firearms are currently insured at are not really applicable right now.

Replacement cost on many items especially if they have black furniture would be much higher than the original purchase price in the case of a loss. The more firearms you have the larger the discrepancy.

Might be something to consider depending on what happens. Just some food for thought.

[subsonic]

That's a good reminder. Also, a lot of homeowner and renter policies limit coverage for firearms, jewelry and other high value items. Even if you have $50,000 coverage for fire, theft, etc. you might be limited to $500-$2000 on guns unless you purchase additional coverage.

[seamusTX]

If you are an NRA member, you automatically have $1,000 in firearms coverage, in addition to your homeowners. I don't know how the value is determined. You can buy more coverage if you own more than $1,000 worth of firearms.

The few reports that I have read about people making claims on this coverage seemed satisfactory.

- JIm

[Houston1944]

My policy (and I think it is just a standard policy) only imposes limits on firearms of $2500 for theft. In case of fire, wind or water damage the guns simply become another household item subject only to the total limits of the policy.