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Found a great place for collector gun insurance


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#1 lightguy

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Posted 01 August 2018 - 01:41 PM

I shopped around and these people are by far the best deal

https://www.easterni...storic-firearms

 

They have an NRA discount and also cover certain other collectibles under this policy.

 

I'm going to have my pinball machine collection bundled and covered as well.


Edited by lightguy, 01 August 2018 - 01:49 PM.

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#2 NavyEngineer

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Posted 01 August 2018 - 03:12 PM

I've had a policy with them for about 8 years - Jack Richardson stays on top of NFA item values, and has suggested revising my policy when needed.


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#3 Grease Gunner

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Posted 01 August 2018 - 03:13 PM

I have used them for years and it covers everything I ship and everything shipped to me

The insurance I save is insane!! And when I ship , i dont insure anymore so I save big time.

Ask for Jack Richardson when you call them.

 

I know a big time dealer who had $75,000 of guns stolen at a show and after he documented

it they paid off quickly with no hassles


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#4 ron_brock

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Posted 01 August 2018 - 03:53 PM

Do they insure your arms if they are fired occasionally? I looked into a source at one time and they would not insure firearms that were shot occasionally, however they did insure fine china that was used in special meals.

Ron
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#5 Grease Gunner

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Posted 01 August 2018 - 04:23 PM

Ron,

Good question to ask them. I would think whether you shoot them or not, they are covered for theft,

loss in shipping, destruction by fire etc. Maybe just not insured against breakage from use if that;s where 

you are going. 


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#6 NavyEngineer

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Posted 01 August 2018 - 05:18 PM

Ron,

 

I'd give Jack a call if you have any questions about their coverage.  I regularly shoot my covered NFA items.  They are covered for all of the things discussed above, just not for any damage caused by firing them.  My contract with them states "Latent Defect:  This insurance does not apply to loss or damage caused by or resulting from latent defect or any quality with any Historic Firearm, Collectible, and Sporting Arm which causes loss or damage to it."  I think Jack will tell you they don't care how much you shoot it, but if a part fails because of shooting, it's not covered by their policy.  I hope this helps.


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#7 cubguy

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Posted 01 August 2018 - 05:28 PM

I've been using them for three or four years.

They cover my guns that are displayed a few times a year too.

As always check your values and dates when you get the policy

I've had a few errors that they promptly corrected.

I also bundled some other equipment with the guns and I'm happy.


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#8 ron_brock

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Posted 01 August 2018 - 05:52 PM

Ron,
 
I'd give Jack a call if you have any questions about their coverage.  I regularly shoot my covered NFA items.  They are covered for all of the things discussed above, just not for any damage caused by firing them.  My contract with them states "Latent Defect:  This insurance does not apply to loss or damage caused by or resulting from latent defect or any quality with any Historic Firearm, Collectible, and Sporting Arm which causes loss or damage to it."  I think Jack will tell you they don't care how much you shoot it, but if a part fails because of shooting, it's not covered by their policy.  I hope this helps.


Sounds good. Im currently insured with Collectibles Insurance Co. I had looked into another company Eastern (something) that was partnered with USAA and they said shooting is not incouraged with insured collectibles. It was total BS and not related to damage from shooting. More like, we will insure fine collectibles but your guns need to be locked up and never enjoyed. Looking more at the website it seems it was a different company.

Ill have to check rates with them compared to collectibles.

Thanks
Ron
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#9 junglewalk

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Posted 01 August 2018 - 06:37 PM

I'm also with 'Collectibles Insure' , & just paid my yearly bill....For $203,000. bucks coverage for the year, it came to $812. bucks....(about 12 NFA items, many other guns, plus WWII optics & tri-pods)..

….Tonight, I am writing them to add two more machine-guns, that are not in the inventory,  for an additional 30k coverage...…….I just wonder if I am doing the right thing.??? :wacko:


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#10 Grease Gunner

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Posted 13 August 2018 - 06:33 PM

Sadly...I received a letter from Eastern that Jack Richardson passed away.


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#11 NavyEngineer

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Posted 14 August 2018 - 09:50 AM

Sadly...I received a letter from Eastern that Jack Richardson passed away.

I received the same letter - didn't know him personally, but he was an absolute gentleman on the phone, and very knowledgeable about NFA items.  The letter said Eastern will continue their historic firearms insurance program.

http://www.legacy.co...14446&fhid=3335


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#12 michaelkih

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Posted 14 August 2018 - 01:02 PM

Yep.  I use Eastern.


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#13 lightguy

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Posted 01 September 2018 - 06:52 PM

I'm also with 'Collectibles Insure' , & just paid my yearly bill....For $203,000. bucks coverage for the year, it came to $812. bucks....(about 12 NFA items, many other guns, plus WWII optics & tri-pods)..

….Tonight, I am writing them to add two more machine-guns, that are not in the inventory,  for an additional 30k coverage...…….I just wonder if I am doing the right thing.??? :wacko:

 

 

I checked out USAA and Collectables.

USAA was crazy expensive.

Collectibles had so many provisions they "didn't need my business".

 

Eastern went out of their way to insure my 2 guns before a trip. Yes you can travel with and actually USE your collectibles.

They even insured me without all the paperwork ( I needed to send them a copy of my burglar alarm certificate which I got after I returned home).

 

They insure a certain value and YOU assign what items.

IE guns, posters, pinball machines etc. 

At 500K coverage you DO NOT HAVE TO ITEMIZE ("schedule") ANY ITEM LESS THAN 50K. This is BIG !!! Think about it.

 

 

However no cars or coins. RATS !!!!

 

I insured 500K of stuff for about $1200 IIRC.

They have a big price break at 500K and also at cool million.

 

 

 

 

ALSO they offer a discount for NRA membership which MORE than paid for membership to those money squeezing @#$#%.


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#14 Grease Gunner

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Posted 01 September 2018 - 07:27 PM

I was looking online and it said NRA insurance is $65 per 6500 of insurance which is 1%,.

Regular homeowner rider can vary between 3 and 6% of the collection value

I found this online If you have a gun valued at $3,000, you typically will pay $90 for the annual premium, she says. You'll also be required by your insurer to keep your collectable guns under lock and key. Thats 3 per cent which is a lot!!

I have 1 million in coverage for $1800 with a $200 deductible and it covers guns that are shipped to me so I decline insurance, covers guns that I ship so I dont insure my shipments and if i compute my cost of coverage its just less than 1/5 of 1% or .0018 / Every situation can vary. Burglar alarms, safes, high or low crime areas all come into play.

But they are the best deal!!!


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#15 lightguy

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Posted 01 September 2018 - 08:02 PM

Yes I also looked at NRA insurance.

They were the biggest rip-off of them all.

 

Call Eastern.

Tell them you are a member of the NRA to get their discount.

 


Better yet shop everyone else  then call Eastern. Ask all the questions not just cost.

 

Then look at the cost.

 

 

At this point Eastern becomes a no-brainer.


Edited by lightguy, 01 September 2018 - 08:03 PM.

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#16 RoscoeTurner

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Posted 02 September 2018 - 05:36 AM

I had no problem signing up with Collectibles Insurance, all accomplished online.  Having safes and a security system does a lot toward reducing your rates.


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#17 ron_brock

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Posted 02 September 2018 - 11:12 AM

Yes I am curious about the so many provisions statement about Collectors

Ron
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