Firearm insurance recommendations

[uplander01]

Collectibles insurance - full coverage for travel and shipping. 400ish a year for 100k in coverage. Never had to file a claim so hard to tell how good they are , hopefully I never find out

 

[ActionBob]

One thing you will want them to clarify is what exactly the coverage is. I've heard that many homeowners riders will say its $5-10k coverage but that is total for all guns, regardless of how many your have and not each one individually. Don't know for sure if it's true, but I'd certainly be asking.

Yes, that limit is on the regular policy at regular rates and your deductible.

The rider you can buy is an "Inland Marine" rider. It covers items that can be transported such as guns, jewelry, electronics, etc. It will be at a higher cost per $1000 of coverage but will cover individual guns. Yes you would need to provide serial numbers and possibly valuation proof such as the appraisals for high end jewelry. This coverage should cover firearms while in storage and while being transported.

 

[BJH65]

I have Collectibles Insurance 888-837-9537 for 105k, a combination of guns and taxidermy. 95k for guns and 10k for taxidermy. I’m paying $560 annually. I obtained the policy this year. I like that I have coverage of my guns while traveling. Many gun collectors that I know use either Eastern or Collectibles Insurance. Depending on the size and value, a rider to your homeowners policy may not be feasible as you’ve found out.

What I like about Collectibles Insurance, you don’t have to send the photographs of all your guns in order to open a policy, but you do need photos of all your guns to file a clam. As an aside, my brother has a gun collection worth 500K that he has insured through Collectibles Insurance too.

 

[TucsonFX4]

I have been a member of USAA for about 30 years now and USAA is the one that I currently use. I wanted to see whether there are better options specifically for insuring firearms.

Gun and Trophy is out for me as their insurance coverage excludes Alaska and Hawaii. I will have to call Eastern/Gallagher Insurance to see what they can offer. I tried Eastern/Gallagher website but their search engine for firearm insurance does not show any results.

Thank you all for your replies.

I emailed Laura last year to start a policy. It took a few days, but I was very pleased with the process, the coverage, and the cost.

Thankfully, I can’t speak to the quality of their claims process. Clearly, that is a big deal but is tough to discern from “internet talk”.

 

[Rare Breed]

Yes, that limit is on the regular policy at regular rates and your deductible.

The rider you can buy is an "Inland Marine" rider. It covers items that can be transported such as guns, jewelry, electronics, etc. It will be at a higher cost per $1000 of coverage but will cover individual guns. Yes you would need to provide serial numbers and possibly valuation proof such as the appraisals for high end jewelry. This coverage should cover firearms while in storage and while being transported.

I went to reviews for the company that bought out Eastern recently and was concerned. While I have never made a claim I did not like what I read about people who made a claim. Therefore given I am traveling in a week with some expensive rifles I took out a premium policy with Gun and Trophy making sure each gun was properly valued if something happened to it

 

[wesheltonj]

I went to reviews for the company that bought out Eastern recently and was concerned. While I have never made a claim I did not like what I read about people who made a claim. Therefore given I am traveling in a week with some expensive rifles I took out a premium policy with Gun and Trophy making sure each gun was properly valued if something happened to it

The carrier for both is Hanover. Claims adjusting will be the same for both.

 

[Rare Breed]

how about that. I read Galliger bought Eastern and did not realize they were both actually Hanover

 

[rookhawk]

Eastern Insurance is absolutely the best. They were just acquired by AJ Gallagher, one of the best brokerages the industry. (Ironically, I was just chatting with them about their acquisition today)

NO ONE will have coverage as reasonable. 30 basis points in premium for coverage is untouchable. Homeowners is roughly 2% of stated value. Inland marine policies are typical 1% to 125 basis points.

$100,000 policy is about $330 a year. No scheduling required unless above $10,000 in value. No appraisals required unless an item is substantially valuable, I think $40-$50k but don‘t quote me on that.

 

[rookhawk]

Not sure if their phone and email changed with the recent conversion to AJ Gallagher’s systems, but here is the contact:

Laura Sewall CIC, CISR

Senior Account Manager

Historic Firearms Insurance Dept.



Eastern Bankshares, Inc. (NASDAQ: EBC)

Eastern Insurance Group

Office: 800-545-9326 Fax: 508-652-4392

lsewall@easterninsurance.com

 

[Albert GRANT]

Not sure if their phone and email changed with the recent conversion to AJ Gallagher’s systems, but here is the contact:

Laura Sewall CIC, CISR View attachment 596612

Senior Account Manager

Historic Firearms Insurance Dept.



Eastern Bankshares, Inc. (NASDAQ: EBC)

Eastern Insurance Group

Office: 800-545-9326 Fax: 508-652-4392

lsewall@easterninsurance.com

Have you had a claim with them or know anyone that has? It's great to get the best deal on insurance but doesn't mean squat if they don't pay out. All I been able to find are issues with getting claims paid with them. Granted you will generally hear about the issues more readily than the ones that went well, however I would like to get some confirmation that these may be unusual situations and not standard practice for this company. As I'm sure you are aware, for most any other insurance this is generally standard practice- deny, deny, make you fight until the cost is no longer worth the payout. I'd rather not deal with that anymore than I already have to.

 

[rookhawk]

Have you had a claim with them or know anyone that has? It's great to get the best deal on insurance but doesn't mean squat if they don't pay out. All I been able to find are issues with getting claims paid with them. Granted you will generally hear about the issues more readily than the ones that went well, however I would like to get some confirmation that these may be unusual situations and not standard practice for this company. As I'm sure you are aware, for most any other insurance this is generally standard practice- deny, deny, make you fight until the cost is no longer worth the payout. I'd rather not deal with that anymore than I already have to.

Yes. Zero issues when filing a claim and dealing with an adjuster.

I would NEVER count on a homeowners claim’s adjuster for fine firearms. What’s that, you had Hemmingway’s G&H 30-06 stolen? I see a savage 30-06 online for $299, so we’ll use that number. <- That’s how claims adjusting goes with your typical homeowners or inland marine policy when you have an issue with a gun.

 

[Troubleshooter]

I am surprised that no one has mentioned Core-Vens Insurance yet. They had a booth at the DSC Convention. You might make an inquiry of them: https://www.corevensfirearminsurance.com

 

[Woodcarver]

I emailed Laura last year to start a policy. It took a few days, but I was very pleased with the process, the coverage, and the cost.

Thankfully, I can’t speak to the quality of their claims process. Clearly, that is a big deal but is tough to discern from “internet talk”.

If you bought a rider through USAA, don't worry about the claims process. I've made claims (not for a firearm) through USAA and have nothing but positive things to say. I looked into their coverage for firearms, but don't like supplying a list of serial numbers, so didn't buy the coverage.
I do intend to get in touch with Eastern/Gallagher soon. Thanks for the contact info @rookhawk

 

[rookhawk]

If you bought a rider through USAA, don't worry about the claims process. I've made claims (not for a firearm) through USAA and have nothing but positive things to say. I looked into their coverage for firearms, but don't like supplying a list of serial numbers, so didn't buy the coverage.
I do intend to get in touch with Eastern/Gallagher soon. Thanks for the contact info @rookhawk

I agree, USAA for homeowners. Eastern for firearms.

Here’s the thing about Eastern insurance that makes the insurance way, way cheap. Risk Pools are muddled. The super-majority of collectors are the paranoid “accumulators”. You know the guy. He has 5 safes, locked up and buried in his basement lair. Inside those safes, he has dozens and dozens of boxes of $800 unfired guns, commemoratives, Etc. This guy never shoots his guns or subjects them to any peril whatsoever. <- That’s the guy that stereotypes the risk pool.

Now think about the “best gun” and safari hunter risks. I’ve had guns restored before where literally the gun was taken apart and scattered to the wind: Barrels went to have chokes adjusted, then on to a Damascus browner. The locks were sent to England for a new mainspring. The action was sent to an engraver to be rechased. The pins were sent to a nitre blue specialist. The completed metals were sent to a color case hardening firm. It was all reassembled at a stocker. It was sent back to me. <- Think about the amount of perils that occur when relying on so many people, plus reliance on several shipping services. Literally, to buy per-shipment coverage from USPS/UPS/Fedex for the gun would have been $15,000 in insurance on a per-use basis, but it would have been $100 proportionally of an Eastern policy for a year.

Same for safaris. Baggage handlers. Going to/from range. Risks in the field of the gun getting damaged. <- huge perils but not priced correctly.

I’ve never seen a cheaper policy than the fine gun policies. Clearly the average gun accumulator that is very low risk is what defines the frequency and cost of claims. Taking a fine shotgun out for 10 days of pheasant / quail hunting, or going on a safari is far higher risk but it isn’t priced correctly, to our benefit.

 

[Bowandarrowman]

Eastern insurance is another recommended company. Only have to disclose a firearm if its valued over a certain amount (can't remember if it was $5k or $10k).

 

[rookhawk]

Eastern insurance is another recommended company. Only have to disclose a firearm if its valued over a certain amount (can't remember if it was $5k or $10k).

You need to schedule any individual firearm >$10,000 in value. However, its pretty unusual to get a firearm in your possession that must be scheduled. Example of what wouldn't have to be scheduled:

Heym Double Rifle in 470NE worth $9999.99
Heym second barrel set and forend worth $8500
German optic and claw mounts worth $6000
Oak and Leather case and shooting accessories $4500

$29,000 of stuff listed above, but in theory they wouldn't require scheduling because not one piece exceeds $10,000.

 

[xbr897]

I have USAA not sure if that’s a option for you but u have pretty much everything with a s# insured, I have had 2 guns stolen out of my truck both window break smash and grabs and the money to replace the guns was in my account 2 days later no deductible

USAA was ridiculously high cost for the dollar amount of coverage. I believe their limit in my state for the firearms value included in homeowner insurance was something like $5-10k. Trying to get that to $50k of coverage would have cost more than 6 years premiums I pay for Eastern and I have broader coverage with Eastern.

Also, in general I'm moving away from USAA due to them really going downhill on customer service. USAA used to be a good company but not today. Not sure fi there was a change in management but there sure has been a massive degradation in customer service and working in the interest of members.

 

[meritman]

I use Eastern as well, they even cover your firearms for international travel.

 

[bashaw]

I dropped my gun insurance after the Liberty Safe incident, do not want Govt to subpoena for my records from insurance company, you don't need to break the law to get the Govt after you.

 

[AimSmall]

Core-Vens

Great coverage at a great price.