Homeowners Insurance firearm valuations

My carrier wants to know how much my two handguns are worth, presumably the replacement cost.
That’s a problem because Colt 1911s are no longer on the CA roster. Neither is my S&W revolver.
I cannot purchase a new replacement for either.

Any suggestions on how to determine a replacement value?

1 Like

Market value. Most likely, the insurance would just issue a check for the value of the firearms. Happened to a friend when his house burned. They gave him a check for 3 firearms that were lost, he bought a FNX-45 Tactical.

3 Likes

What kind of premium are you willing to pay? :no_mouth:

2 Likes

The insurance company is looking for market value.

3 Likes

It is going to change all of the time. I’d tell them the high end of market value and what is available online new/used in case you actually had to replace it. My home policy is good for $10k of firearms before I have to pay extra.

3 Likes

@John292 >>> my homeowners comes with basic coverage for firearms, jewelry, etc. If you want to get a rider for firearms get them appraised by a gun shop and, submit to Ins. Co.
Basic homeowners also has Liability coverage IE: if you hurt someone.

1 Like

@Brad Brad >>> do you have a rider to get 10k coverage ??

@Blacky - yup. Just like that.

1 Like

@OldGnome >>> thank you. Still learning. This web site has a some good people like you that keep it going. >>>>> TRULY>> BLACKY >>>>
:paraguay::paraguay::paraguay:

1 Like

Just part of the regular insurance.