Who has supplemental insurance for their gun collection on top of their homeowners policy? Considering most homeowners policies insure for only $2,000 on average, it’s something to consider.
There are two reasons to insure valuable, including firearms, under a separate ride on your homeowners policy. The first, as @Victor6 has said, you can insure for the actual or replacement values of the weapons insured and they are not subject to the general limit. The second reason is that in most cases, if they are listed separately, they are often not subject to the regular deductible.
My renter’s insurance through Assurant would only provide the bare minimum if I did not have them tagged as a separate on my insurance(Which in my case would be a huge loss).
Now, had it be that I only had one-two firearms that would be okay.
You really have to ask yourself what fits my needs when it comes to this topic.
You’re absolutely right! It is a person choice to determine what loss you are able to bear. But, by individually listing them, if the deductible does not apply, that is pretty significant. Just think, if you own 2 guns and have a $1000 deductible, you’re paying to replace the guns with no insurance coverage.
$1000 dollar deductible would be so hard for me to manage. After reading this I’m going to call @7 and make sure mine is $500 and if not what do I need to pay to make sure it is.