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?
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.
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.
@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.