Recommendations for rifle insurance

[crossfire3006]

Looking for recommendations for rifle insurance for my upcoming trip in April to South Africa. The coverage by the airline for lost, stolen, or damaged rifles would not come close. Who have you used for insurance coverage for your rifles when flying? Has anyone ever used a company called Gun & Trophy Insurance (www.gunandtrophy.com)? If so, how was your experience?

 

[Beck]

I use gun and trophy, but I have not used it for travel. I mostly have it in place to make they are covered while being stored at my house. Not really sure what the coverage looks like during travel.

 

[Altitude sickness]

Gun and Trophy

 

[GUN & TROPHY INSURANCE]

Looking for recommendations for rifle insurance for my upcoming trip in April to South Africa. The coverage by the airline for lost, stolen, or damaged rifles would not come close. Who have you used for insurance coverage for your rifles when flying? Has anyone ever used a company called Gun & Trophy Insurance (www.gunandtrophy.com)? If so, how was your experience?

We cover lost, stolen and damaged firearms in transit. I just had an airline break a clients 1920’s H&H double. I actually met up with him at SCI and purchased the salvage. hoping James Tucker in OK can work his magic. feel free to reach out if you wish to discuss in further detail.

 

[Rimbaud]

We cover lost, stolen and damaged firearms in transit. I just had an airline break a clients 1920’s H&H double. I actually met up with him at SCI and purchased the salvage. hoping James Tucker in OK can work his magic. feel free to reach out if you wish to discuss in further detail.

If you don’t mind, please share your settlement process and how you treat value determination of insured firearms? Do you depreciate or go off purchase price? Thank you

 

[crossfire3006]

We cover lost, stolen and damaged firearms in transit. I just had an airline break a clients 1920’s H&H double. I actually met up with him at SCI and purchased the salvage. hoping James Tucker in OK can work his magic. feel free to reach out if you wish to discuss in further detail.

Thank you, I certainly will!

 

[Datchew]

I can highly recommend Laura at Gallagher

Used to use usaa and they don't insure unless it's in your home. No travel, no int'l.

I have a thread somewhere under my name that has all the details

 

[GUN & TROPHY INSURANCE]

If you don’t mind, please share your settlement process and how you treat value determination of insured firearms? Do you depreciate or go off purchase price? Thank you

We have two ways to cover guns/accessories 1) scheduled 2) unscheduled.

The rate and coverage is the same for both ways. Guns over $10k have to be scheduled.

The difference between the two is the valuation come claim time. Scheduled guns are valued at stated amount and receive up to 25% of the stated amount if it is insufficient to replace.

Valuation under the blanket/unscheduled is fair market value which turns out to be the cost to replace new cost for any gun still in production. For guns out of production we use a combination of close to 100% blue book, current listings (gunsinternational, gunbroker), current/past auction sales of similar items in the same or above condition. For the majority of claims, especially theft, we don't know the condition prior to claim however our partner, Hanover, has exceeded my expectations.

Unscheduled accessories (i.e. optics, suppressors) are on actual cash value however we give 24 months to replace in which case the difference of actual cash value and replacement cost is paid.

I only schedule my guns over $10k in value and use a blanket/unscheduled limit on the remainder.

 

[Rimbaud]

We have two ways to cover guns/accessories 1) scheduled 2) unscheduled.

The rate and coverage is the same for both ways. Guns over $10k have to be scheduled.

The difference between the two is the valuation come claim time. Scheduled guns are valued at stated amount and receive up to 25% of the stated amount if it is insufficient to replace.

Valuation under the blanket/unscheduled is fair market value which turns out to be the cost to replace new cost for any gun still in production. For guns out of production we use a combination of close to 100% blue book, current listings (gunsinternational, gunbroker), current/past auction sales of similar items in the same or above condition. For the majority of claims, especially theft, we don't know the condition prior to claim however our partner, Hanover, has exceeded my expectations.

Unscheduled accessories (i.e. optics, suppressors) are on actual cash value however we give 24 months to replace in which case the difference of actual cash value and replacement cost is paid.

I only schedule my guns over $10k in value and use a blanket/unscheduled limit on the remainder.

Thank you for taking the time to write a detailed answer. I will remember your company should I need to insure rifles ahead of some trips.

 

[Hornedfrogbbq]

We have two ways to cover guns/accessories 1) scheduled 2) unscheduled.

The rate and coverage is the same for both ways. Guns over $10k have to be scheduled.

The difference between the two is the valuation come claim time. Scheduled guns are valued at stated amount and receive up to 25% of the stated amount if it is insufficient to replace.

Valuation under the blanket/unscheduled is fair market value which turns out to be the cost to replace new cost for any gun still in production. For guns out of production we use a combination of close to 100% blue book, current listings (gunsinternational, gunbroker), current/past auction sales of similar items in the same or above condition. For the majority of claims, especially theft, we don't know the condition prior to claim however our partner, Hanover, has exceeded my expectations.

Unscheduled accessories (i.e. optics, suppressors) are on actual cash value however we give 24 months to replace in which case the difference of actual cash value and replacement cost is paid.

I only schedule my guns over $10k in value and use a blanket/unscheduled limit on the remainder.

"Scheduled guns are valued at stated amount and receive up to 25% of the stated amount if it is insufficient to replace."

Can you please explain this further?

 

[GUN & TROPHY INSURANCE]

our “insufficiency of limits” enhancement reads as follows:

the event that your scheduled “Sporting and Hunting Guns” incur direct physical loss by a Covered

Cause of Loss that results in a total loss and the applicable Limit of Insurance is not adequate to replace

damaged property with similar property of like kind and quality and used for the same purpose, we will

pay an additional Limit of Insurance. We will pay up to an additional 25% of the scheduled Value, but in

no event to exceed the Any One Occurrence Limit of Insurance indicated on the Certificate of Coverage

 

[Tanks]

our “insufficiency of limits” enhancement reads as follows:

the event that your scheduled “Sporting and Hunting Guns” incur direct physical loss by a Covered

Cause of Loss that results in a total loss and the applicable Limit of Insurance is not adequate to replace

damaged property with similar property of like kind and quality and used for the same purpose, we will

pay an additional Limit of Insurance. We will pay up to an additional 25% of the scheduled Value, but in

no event to exceed the Any One Occurrence Limit of Insurance indicated on the Certificate of Coverage

So, if I have a rifle that is worth $100K and it gets lost by the airline, and replacement price has gone up to let's say to $125K, you will pay $125K out?

 

[GUN & TROPHY INSURANCE]

So, if I have a rifle that is worth $100K and it gets lost by the airline, and replacement price has gone up to let's say to $125K, you will pay $125K out?

Yes with a couple caveats - you would have to have at least $25k in blanket/unscheduled coverage in this scenario as the most that would be paid out is the total policy coverage limit. The blanket limit would get you to $25k (as well as cover any other gun, up to $10k/item, that is unscheduled). We require a bill of sale or appraisal on any single gun over $50k.

 

[quandary]

We have two ways to cover guns/accessories 1) scheduled 2) unscheduled.

The rate and coverage is the same for both ways. Guns over $10k have to be scheduled.

The difference between the two is the valuation come claim time. Scheduled guns are valued at stated amount and receive up to 25% of the stated amount if it is insufficient to replace.

Valuation under the blanket/unscheduled is fair market value which turns out to be the cost to replace new cost for any gun still in production. For guns out of production we use a combination of close to 100% blue book, current listings (gunsinternational, gunbroker), current/past auction sales of similar items in the same or above condition. For the majority of claims, especially theft, we don't know the condition prior to claim however our partner, Hanover, has exceeded my expectations.

Unscheduled accessories (i.e. optics, suppressors) are on actual cash value however we give 24 months to replace in which case the difference of actual cash value and replacement cost is paid.

I only schedule my guns over $10k in value and use a blanket/unscheduled limit on the remainder.

I put my own rifles together. Order the action, barrel, stock etc have the barrel chamber and threaded then put everything together. Depending on what I am putting together cost will generally range anywhere from $4,500 to $6,000 not including optics. May I ask how/if you insure this type of scenario? Presumably this is no different than any custom. Both of these situations really don't have a "blue book".

Thanks

 

[GUN & TROPHY INSURANCE]

I put my own rifles together. Order the action, barrel, stock etc have the barrel chamber and threaded then put everything together. Depending on what I am putting together cost will generally range anywhere from $4,500 to $6,000 not including optics. May I ask how/if you insure this type of scenario? Presumably this is no different than any custom. Both of these situations really don't have a "blue book".

Thanks

We cover this scenario, you would need to be able to provide documentation of what you had into the gun in the event of a loss.