Defensive Carry banner

1 - 19 of 19 Posts

·
Registered
Joined
·
4 Posts
Discussion Starter #1
When applying for home insurance, should you disclose the amount of firearms you have, monetarily-speaking? It's a question on my quote....
 

·
Registered
Joined
·
368 Posts
I imagine if you dont disclose them you would have no claim if they were stolen or damaged. I would hope they wouldnt charge a higher premium due to guns in the house but I dont know how all that works.
 

·
Administrator
Joined
·
21,270 Posts
I imagine if you dont disclose them you would have no claim if they were stolen or damaged. I would hope they wouldnt charge a higher premium due to guns in the house but I dont know how all that works.
Well...

It depends on what you have. I had to get a separate policy for the guns all together when I was in PA/VA. Here in IA they are included but I had a higher premium due to the $$$ value of our collection.

Some insurance companies are even "funny" about what kinds of guns you have, the company I was with in PA and VA wouldn't insure my Bushmaster, as it's an "assault weapon" :rolleyes: The company I'm with now doesn't care and insured them all.
 

·
Registered
Joined
·
4,244 Posts
My insurance comes with a $5,000 cap on firearms automatically. I purchased an inexpensive rider to raise the limit to $50K.
 

·
Registered
Joined
·
1,644 Posts
Answer all questions honestly. Failing to do so can have some nasty consequences (from loosing coverage on things to insurance fraud). Read and understand your policy carefully.

Take photos and videos detailing the contents of your entire house. Scan/xerox receipts or appraisals for valuable items and your insurance policy as well. Store them with an out of state relative and on a encrypted flash drive in your bug out bag.

In the event you need to file a claim it really helps to have documentation of what was lost.
 

·
Banned
Joined
·
10,182 Posts
It's a 'specialty' item and there are policy "limits". IF the values are above the limits on the policy, they will suggest an endorsement or expansion of coverage ..... for a fee.
 

·
Registered
Joined
·
9 Posts
Mine wanted the names and serial numbers. I didn't have much of an issue with it since it is just to allow them to be reported stolen if it comes to that.

I wouldn't call some more controversial weapons like AR-15s or AK-47 clones by those names. Just Sabre Defense Rifle or Rock River Arms Carbine. Some home owners will not cover 'assault weapons'. They can't define what an assault weapon is when asked, but still will hang up on you.

I think I have 10k coverage right now, but thinking I need more. I wonder how the figure accessories. They are not *firearms* so Aimpoints, ACOGs, cronographs, timers etc should be covered by your normal HO coverage, right?
 

·
Registered
Joined
·
36,326 Posts
When applying for home insurance, should you disclose the amount of firearms you have, monetarily-speaking? It's a question on my quote....
I'd think it depends on your specific insurance policy. You can just ask your agent whether prior declaration of personal items is required for coverage in the event of a loss, or whether you can simply document them now and present if/when a claim occurs.

I have a blanket rider on my homeowners insurance that covers personal, household/garage items up to a given dollar amount. I've got each of the firearms photographed, documented and stored in the safe, along with a copy of the documentation in the bank safe deposit box (photo, description, bill of sale, etc). The insurance company doesn't care (or need) to know the details, unless/until a loss occurs. YMMV.
 

·
Registered
Joined
·
146 Posts
I visited with my insurance agent just this past week to check coverages and amounts. I specifically asked if my firearm collection needed to be scheduled. My agent called the underwriter to check and in my case, no. Unless I had some really expensive collector's grade firearms.

You really need to make sure about your policy. I was prepared to take out an additional policy for about $500 per year in premiums until I found out I was already covered under my existing policy.
 

·
Registered
Joined
·
58 Posts
Mine wanted the names and serial numbers. I didn't have much of an issue with it since it is just to allow them to be reported stolen if it comes to that.
Unless REQUIRED for coverage, I would say this is a bad idea. My dad did the same thing once 22 years ago. Two days after listing every rare and collectible gun he owned, their apartment was broken into and every single gun was taken, but nothing else in the apartment was touched, cash, jewelry, nothing. Suspicious? :aargh4:
 

·
Registered
Joined
·
36,326 Posts
My dad did the same thing once 22 years ago. Two days after listing every rare and collectible gun he owned, their apartment was broken into and every single gun was taken ...
Yup. Whether it was due to an "inside" job or not, involving some schmuck at the insurance company, we'll never know. But, the mere possibility is reason enough to not divulge what you need not divulge.

For example, mine is "blanket" coverage of personal items up to $XYZ amount. If my place gets cleaned out, I make a list of what's missing and the total dollar value to replace the items, then I get a check cut. I would think that many insurance policies can be set up in this way, if you ask or push.
 

·
Registered
Joined
·
2,163 Posts
That brings up a funny memory, when I first moved to NC from Communist CA many, many years ago I went and signed up for insurance with State Farm who I had been with for years. I couldn't believe my eyes when my home owners policy covered only $2,000 in jewelry but $10,000 in firearms!!!

NCH
 

·
Registered
Joined
·
2,198 Posts
You will find that there's a limit on the value of firearms. Usually something rediculous like $500.
 

·
Registered
Joined
·
1,780 Posts
Separate insurance thru NRA/Lockton, Collectibles, etc. is usually much cheaper than a rider on your homeowners.

For those that live in gun-unfriendly areas, I've also heard (rumor at this point) of companies refusing/canceling homeowners if they find out that you own guns. Leads me to think "don't ask, don't tell" is a good policy.
 

·
Registered
Joined
·
36,326 Posts
You will find that there's a limit on the value of firearms. Usually something rediculous like $500.
My homeowners insurance has "blanket" coverage of personal items up to $XYZ amount. That's for everything from the toaster to the safe, from clothing to firearms, from tools in the garage to the spendy foreign cologne from the trip last year. Doesn't matter. And, at least in the case of my policy, there isn't a specific limitation on types of personal items (ie, firearms, with a max/fixed value). I checked, asking specifically about certain items and the specific lingo in the policy, "small print" and all. I'm sure some other policies might not be that way.
 
1 - 19 of 19 Posts
Top