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What does your gun insurance cost?

Discussion in 'Shooting Related Threads' started by huntinandhotrods, Jul 18, 2012.

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  1. huntinandhotrods

    huntinandhotrods Member

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    I have always had home owners insurance that just had a blanket coverage on guns that would cover $5000 in guns but only $1000 per gun. I never thought about insuring an individual gun. I just changed insurance companies and had them do a $7000 blanket coverage on the group of guns I have but I also had them do a seperate coverage/policy on my trap gun for $5000 which covers it if anything happens to it no matter if it is in my house in the safe or in my truck at a shoot. The seperate policy is only $32 a year. I couldn't believe how cheap it was. For any of you guys that don't have your trap gun(s) insured you are a fool like I was. In this day and age anything can happen at any time and I know I would not be able to replace it right away. Just a thought! Have a good day and shoot often Dwayne
     
  2. Jim Bradbury

    Jim Bradbury Member

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    Location:
    Buckley Washington
    Who is your insurance company and how do I get in touch with them?

    Jim Bradbury
     
  3. charleyj10

    charleyj10 TS Member

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    I, too, wish to know.

    Charlie
     
  4. huntinandhotrods

    huntinandhotrods Member

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    I just went to my local Farmers Insurance office. I would bet State Farm, All State or any other well know insurance office would have something close. I just couldn't believe it was that cheap and just wanted everyone to think about what they would do if something happened to their gun. I know a lot of guys have guns way more expensive then mine and they don't have them insured. It just seems like a cheap piece of mind. Dwayne
     
  5. David McMillen

    David McMillen Banned User Banned

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    State Farm is not that cheap. Maximum coverage with State Farm is $25,000, and that would cost in the $500-$600 range per year.
     
  6. BigJohn270

    BigJohn270 Member

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    Last time I checked they wanted more than my home owners just to cover my guns and my guns were not worth near what my house was.
    That was years ago and I have not checked sense, might be worth another look.
     
  7. gaboy77

    gaboy77 Member

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    Jan 24, 2011
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    I have Auto Owners insurance on my house and autos. I just priced gun insurance with them. A no deductable inland marine policy on guns costs $2.52 per $100 in insurance. This would mean a $5,000 gun would cost $126/year to insure. This is replacemnt cost coverage for where ever the gun is (does not have to be at home or in car). The inland marine declaration is needed if you want it to pay if you are away from your home. I was also told if you wanted a $1,000 deductable, you could get a 33% discount on the rate to 1.69 per $100 in insurance.

    The policy requires the guns to be individually scheduled also.
     
  8. 320090T

    320090T Well-Known Member

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    SIAI is $1.25 per $100.

    http://www.siai.net/
     
  9. coot shooter

    coot shooter Member

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    Location:
    Wisconsin
    My Farmers agent was considerably more than huntinandhotrods.
    Probably varies by location.
    It would have cost me almost double my homeowners policy to insure my guns for replacement cost.
     
  10. huntinandhotrods

    huntinandhotrods Member

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    I would have to look back through the paper work but the $7000 dollar blanket coverage was $170/year (I think) but to add the seperate $5000 dollar coverage on the trap gun by itself was only $32/year added to the $170. Well worth it in my book. Dwayne
     
  11. Lawman214

    Lawman214 TS Member

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    You may want to double check and make sure the $32.00 isn't just the pro-rated amount for the balance of your policy term. I had my homeowners coverage with Farmers for over 25 years, and the lowest rate I ever paid for a gun floater was $1.10 per $100. They are higher than that now...at least in Missouri.
     
  12. 320090T

    320090T Well-Known Member

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    $8000 coverage from SIAI is $100, no ded, and they are nice to deal with.
     
  13. halfmile

    halfmile Well-Known Member

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    I get $5K in my American Family Homeowner policy. I pay $18 extra for another $5K. If I want more I have to schedule the item.

    Not bad, $10K for 18 bucks. Some of these companies only cover 500 for guns. That doesn't even cover 1 Auto.

    HM
     
  14. Bvr Tail

    Bvr Tail Well-Known Member

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    The last quote I had was $100 per $1000.00 in coverage, besides the $3000.00 included in my policy.
     
  15. cunninmp

    cunninmp Member

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    I just got my bill from USAA for my CG Maxum Combo.
    $162 for $10680 worth of coverage. It's fully covered for loss
    or damage no matter where or what happened.

    Mike C.
     
  16. pdq

    pdq Member

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    Like all forms of insurance, don't buy just on price alone. Areas of coverage can differ and while some companies are great to work with, others can be a nightmare.

    SAIA was half the cost for stated value on 3 guns I insure versus having them as scheduled items with the same declared value on my Chubb homeowners insurance. I've talked to many people who have insured with them and had claims, and they have nothing but good things to say. At $1.25 per $100 of stated value, I consider that reasonable for the coverage and service they provide.

    But, each to his/her own.

    Pete
     
  17. perga1

    perga1 Active Member

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    Collectibles Insurance, a separate policy for 3 trapguns is $132 for $19,000 of coverage. I did have to provide the make, description and serial numbers of the 3 guns and assign a value to each. JRm
     
  18. NW Gal

    NW Gal TS Member

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    David McMillen

    You must have an agent that does not want to deal with firearms insurance. We have State Farm and it is a little less than $12.50 per $1000.00 of value.

    We had a claim a few years back and it was no hassle at all. Some scum bag stole our trigger bag with a half a dozen MX-8 Triggers in it. WE had a check within a week for full replacement.
     
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