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Discussion Starter · #1 ·
I found two existing threads on this subject but the software prompted me to create a new thread so that is what I am doing.

Wife turns to me the other day and says "by the way are all of your guns insured"?

I learned about Collectibles Insurance Insure Guns, Knives, and Accessories | Collectible Insurance Services | Collect Insure from another forum but I never pulled the trigger (pun intended).

Homeowners insurance is limited and if you want to increase the coverage the insurance company wants a schedule with serial numbers etc. which I am not interested in doing.

This company at least will write a policy for a blanket amount with no schedule and no serial number. I want to say the last quote I received from them, probably two years ago was roughly $125 for $8,000 of coverage. They come highly recommended from the CMP Forum.

I am planning to get a current quote from them for my wife (LOL).

Has anyone else done business with this company or know of other alternatives not including home owners insurance?

I am not affiliated and not promoting this specific company just shopping for coverage.
 

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.......Homeowners insurance is limited and if you want to increase the coverage the insurance company wants a schedule with serial numbers etc. which I am not interested in doing..........
And THAT, has been the biggest problem I have with adding any firearms to my homeowner's policy.
 
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Discussion Starter · #4 ·
I found the email with their last quote to me. The quote was for $15,000 of coverage and the price all in was $133.00 for one year. No schedule and no serial numbers. There was a $50 deductible listed on the quote form.

I am going to jump back over to the CMP Forum and see if there are any current threads that include Collectible Insurance. Stay tuned.
 

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I HAD insurance on all of my firearms just added onto my home owner’s policy. At the time I did it it was very reasonable. We move often for work and depending on which state you live in it can be quite affordable or ridiculously expensive. When I had it I was paying about $150 a year for around 10K in coverage. Currently I figure I’d want about 12K in coverage. My agent quoted some astronomical price. I’d like to research more on it myself as I have zero coverage right now.
 

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Been using Collectables for some time now. Have never had an issue with them. But then, I have never had a claim either.
You do have to have a spread sheet of sorts for proof when filing a claim. They also do other things like, baseball cards, etc.
 

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Discussion Starter · #8 ·
When my wife and I had our wills updated a few years ago our attorney suggested I create a list of Tangible Personal Property that I wanted to pass along to the kids or grandkids.

I created an excel spreadsheet that includes Item Description, Make, Model, Serial Number, Purchase Date, Purchase Price, caliber, approx. current value (for any collectibles that have appreciated) and any notes for future reference i.e. this WWII thingy was blah, blah, blah.
 

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Back when I had a expensive firearms collection :rolleyes: I had extra insurance on it. The insurer didn't require I inform them of what I had until I submitted a claim, and they didn't require serial #'s. I had the most valuable items appraised professionally.
Good point. I have coverage on my personal possessions, but I don't inventory every pair of underwear. As long as you have a list of SN's and maybe some pictures, it should be plenty good. It sounds like there are at least some companies that allow that without having to disclose specific possessions.
 

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Good point. I have coverage on my personal possessions, but I don't inventory every pair of underwear. As long as you have a list of SN's and maybe some pictures, it should be plenty good. It sounds like there are at least some companies that allow that without having to disclose specific possessions.
My homeowners policy claims they cover firearms but only if we claim them at the time of loss and even then only up to the maximum total coverage for all in house items, like TV's, furniture, etc and the total limit was only 3K, so this was specific firearms insurance from a different insurer. This particular insurer covered my collection up to 50K but even then required I claim the specific items. I couldn't for example claim 10 taurus handguns and ask for 50K, they would only pay what the replacement value was at the time of loss. I got the expensive stuff appraised so that if the insurer tried to lowball me I had something to back me up besides my opinion of condition and the Blue book of gun values. The good thing was I didn't have to disclose what I had up front, only if there was a loss. This company was able to cover just my firearms for less money than what my homeowners insurance for the same extra coverage, but I've heard that's not always the case for everyone.
 

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My homeowners policy claims they cover firearms but only if we claim them at the time of loss and even then only up to the maximum total coverage for all in house items, like TV's, furniture, etc and the total limit was only 3K, so this was specific firearms insurance from a different insurer. This particular insurer covered my collection up to 50K but even then required I claim the specific items. I couldn't for example claim 10 taurus handguns and ask for 50K, they would only pay what the replacement value was at the time of loss. I got the expensive stuff appraised so that if the insurer tried to lowball me I had something to back me up besides my opinion of condition and the Blue book of gun values. The good thing was I didn't have to disclose what I had up front, only if there was a loss. This company was able to cover just my firearms for less money than what my homeowners insurance for the same extra coverage, but I've heard that's not always the case for everyone.
Yeah, probably hard to make 10 Taurus guns add up to 50K, but if you had to have them imported in order to get one (like maybe the PT59) you could rack up some hefty costs.
 
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Yeah, one of the reasons I procrastinate about buying the extra coverage, that insurers tout, is that it's hard to pin them down on what they will really pay after a loss. They'll say (like pegasus wrote) that they'll pay the "replacement value." That's a bit too subjective for me to be shelling out a lot more money for coverage that may not exist & the only way you'll find out how much they'll pay for sure is after the fact & then it's too late.
 
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Yeah, one of the reasons I procrastinate about buying the extra coverage, that insurers tout, is that it's hard to pin them down on what they will really pay after a loss. They'll say (like pegasus wrote) that they'll pay the "replacement value." That's a bit too subjective for me to be shelling out a lot more money for coverage that may not exist & the only way you'll find out how much they'll pay for sure is after the fact & then it's too late.
We had a loss about 10 years ago when a rental car was broken in to and my wife lost camera, clothes, and jewelry. We bought new stuff and turned in receipts. Farm Bureau Mutual didn't blink at $10k.
 

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Yeah, for consumer items like that I have no doubt they pay well, but it's firearms that I have my doubts about how much they will pay.
 

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Discussion Starter · #18 ·
I just got a quote at $85.35 for $10,000 in coverage. Seems reasonable. I wonder if they cover ammunition as well? I haven't decided whether or not to pull the trigger.
Mind if I asked where your quote came from?
 
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Discussion Starter · #20 ·
If you mean my location, a smallish town north of Dayton, Ohio. If you mean what company, Collectibles Insurance Services.
I meant the insurance company. Thanks for clarifying.
 
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