Insurance and my willingness to list

Just curious if anyone else has a hesitation to list firearms for insurance coverage. I was told that firearms are not covered under personal property if the value is over a set dollar amount. What are your thoughts on listing for insurance coverage. Thanks for your input.
Craig

After thought,.
List with serial numbers, was also mentioned.

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Most insurance policies have limits on lots of different things, i.e. jewelry, guns, cash, cameras, silverware, computers. My policy has a $1000 limit on firearms. I have not listed them.
There are 2 benefits to listing them. First, is the limit of exposure is set in advance at the value of the property. Second, usually the deductible does not apply.
The down side is do you want to give the information regarding the weapons to your insurance company.

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My Grandfathers insurance just payed a flat fee per destroyed barrel when his house burned down.

On a side note: Close your gun safe when not in use.

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Agreed. I bought a high quality safe from a major mfg in the usa. I leave it locked and it contains all except my EDC Glock 19 and my home defense M4. If I am home and there is a fire those two walk out with me. If I am gone the EDC is with me and the M4 is locked in a closet. Banking on my loud as hell alarm to discourage any “bad guys” from looking around while its screaming away. Neighbors will be around in a minute or two while the alarm should have LE on the way. We (the neighborhood) watch out for each other and that is how it is here! Fire-wise, I am willing to take a “hit” on the M4 if it came down to it. That for me would be preferable to listing my guns with my insurance company.

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That is my hesitance. Yes the same is always locked. Minus edc , closet rifle and 870.
Check into your safes, not as FR as you may think

But thanks for confirming I’m not paranoid. I see that some of you share my issue with lists.

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I believe It’s illegal for them to share your policy with anybody!

You always want a floater on regular home/renter insurance to avoid loss!
&& Not necessarily from thieves neither, We had some horrible weather a while back & would have hate for a tornado to take my guns off (I survive) && all my guns except my carry with me in the bathroom would be in possession! I would cry!

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They will be required to produce the information subject to a search warrant or a subpoena.

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Yes it is… however you are not able to prove that this information leaked from them :smirk:
If it comes to the money, there is no rules anymore (legal or not)…

Me personally… no I do not list my firearms anywhere. Nobody beside my Family (and State Police :wink:) knows how many firearms we’ve got…

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@Craig9. I do in fact with both home owners insurance and renters insurance USAA automatically covers it for up to $2,000
I had to call USAA just this morning because I had a question about my homeowners and I asked the Homeowners/Renters Insurance Department.

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I see what you did there :stuck_out_tongue_winking_eye:

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Why state police of all people? (Nothing against the police but would feel violated if they knew what type, brand & how many,

I think so too but that would be a devastating loss for me both financially and sentimentally!

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ah! Yeah me too!

I call them every time I’m about to purchase another ! :wink: :wink: :wink:

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Wow! What a great question and I’m embarrassed to say I don’t know what my home owners insurance says.

I’m trying to think what all my guns together are worth — maybe 15k??

Thanks for bringing this up!

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Unless you have a policy that covers firearms and usually includes requirements like a gun safe, it is just what your homeowner policy covers.

I have a firearms policy and keep careful purchase and sale records. Unless you have things like sales receipts maintained and photos. It is difficult to make a claim.

Of course like the housing inventory, you need to maintain a current inventory and picture file in your safety deposit box. Together with receipts stored on a DVD ROM, you can provide a record of valuables. This is just about the only way to avoid giving a list of weapons to an insurance agency for police to subpoena.

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Insuring guns is a lot like insuring cars, there is “book” value, “replacement” value and “collector” value.

Let’s take my 1977 Ranchero. Book Value is about $2,300, Replacement Value is about $15,000. Collector Value is about $5,000

Take my 1911A1 Colt GI issue .45 mfg’d in 1918. Book Value is about $900, Replacement Value is about $1,600. Collector Value is north of $20,000 due to the documentation I have of it and who it was carried by and where.

Insurance companies are in the business or praying that nothing happens to your stuff so you keep paying them for “nothing” and if something does they are in the business of giving you the least agreed upon amount. Hence they will “total” a car at the drop of the hat.

All that said I have better than good safes that stay locked. So barring a search warrant and a plasma cutter ain’t nobody but me getting inside and I don’t think my house can burn log enough or hot enough to cook what’s inside.

Cheers,

Craig6

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@Craig6 Is a Ranchero and a El Camino worth about the same money.

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@Robert8 not too sure I think ‘Chero’s are harder to find but El Camino’s are more main stream. Neither one of them will net you monster bux like a untouched 69’ 427 Mustang or 454 Chevelle or Corvette. They are pretty much outcasts but loved by those that love them.

I could do a $60K resto mod or a $60K restoration on mine and still have a $15,000 car/truck.

I figure I will spend north of $8k for my motor, $3k on the trans another $2k on the rear end. I may even paint it but I will be able to do 55 mph in 5th gear at an idle grab 2 gears n’ drop the hammer and see triple digits right damn now. It will also let me cruze to where ever the he!! I want to go in MY style and if I need to make a little smoke at a red light I can do that too. Midnight is like my 1911’s, I build 'em my way.

Cheers,

Craig6

As a visual

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I have the option of getting a rider for the guns, but I am hopeful the fireproof safe will prevail.
I go without insurance.
I also have a thumb drive with a pic of all the guns/SNs just in case. An an excel sheet with a list of everything. Password protected.

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Most home owners insurance will cover your firearms to $2500 max (please check your homeowners or renters insurance). You can get riders and umbrella policies to help mitigate that loss. Please talk to your insurance agent about that.

As with any type of documentation of your firearms there can be risk of it being used against you. However, would you rather risk it being used against you or not being able to replace them after losing everything due to fire, tornado, hurricane…?

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