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#1 giantpanda4

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Posted 24 November 2003 - 12:10 AM

I was sitting in the deer blind seeing nothing, so my mind wandered to how to insure a tsmg. With my current carrier, they recently reduced the household guns coverage to $1000 without itemizing (and paying a premium for) all guns. Surely nowadays a small number of modern non-collector value guns can easily exceed that, and with more valuable guns only one is necessary. I also dislike the itemizing the guns - give anyone with a PC at the insurance office a view inside your home.
What is usually done? Are there places that cover these items like a tsmg - separately from and/or included with your regular insurance?
Collector cars have companies like Heggerty, in Traverse City, MI. that cater to the collector car industry. I insure classics thru them, with a policy that is based on VALUE, nothing else. Heggerty knows collectors maintain and are more carefull driving their cars than modern car drivers with their modern cars. The prices are (in MI - no fault ("our fault") insurance state) about half to less than conventional methods.
Along with a good safe - what recommendations are out there?
Thanks for a reply!
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#2 John Jr

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Posted 24 November 2003 - 01:16 AM

There is some company out there that does insure guns and such. Insurable collectables or something like that. You see them in Shotgun News.

Short of that you have to get an Inland Marine policy on each item. Pretty expensive. I did the Inland Marine thing once. Waste of money.

NFA weapons are valuable because they are transferrable. A stolen gun has little value.

Jr

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#3 Sig

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Posted 24 November 2003 - 05:40 AM

Two possible companies that I know of.

First is Collectibles Insurance Agency (CIA) that I use. Brochure says and this is a fact just to list make, model and description. Brochure also says which I can not vouch for that the list is not disclosed to anyone and is not entered in a computer.
This is a good value compared to NRA endorsed below.

CIA


NRA endorsed insurance


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#4 Z3BigDaddy

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Posted 24 November 2003 - 12:06 PM

OK just to clarify... Your $1,000.00 maximum is most likely for theft only... Which of all the covered perils is the most common cause of loss, (excluding SoCal this year)... That's why the thousand buck limit...;-) You don't have to floater, insure separately, to obtain extra coverage. You usually can bump cover up on a class of property, such as jewelry, silver, camera equipment, computers, and sporting goods aka guns. The max may be only 10K but you will have a little more coverage... I don't understand John Jr.s statement.... "I did the Inland Marine thing once. Waste of money." Maybe disappointed it didn't pay off? The inland marine thing does add some coverage also... On jewelry it covers loss of a stone, and it covers mysterious disappearance... As in I don't know what happened to it, it is just gone... But after all this rambling the best insurance in a quality safe, and being alert when your gun is out of it's "safe" spot. When shopping safes be sure to over buy size wise... Much easier to get by the wife when you don't have to dismantle the entire contents to get your new purchase in.... "Why do you need all those guns?" "It's not that many..... the safe is only half full... ;-)
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#5 Jeff51

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Posted 24 November 2003 - 07:56 PM

I just got my Collectible Ins. policy today and if you read the covarge (or what is not covered) the policy DOES NOT COVER " Guns that are primarily used,fired or discharged for sports,hobby,self protection or similar purposes" this is a direct quote from the policy!!I e-mailed them to get a refund and cancel the policy. Jeff
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#6 Sig

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Posted 24 November 2003 - 08:14 PM

In your case you may want to try NRA.
In my case I collect more than shoot.
I have in writing 3 X per year shooting is OK, I wish I shot that often!
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#7 giantpanda4

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Posted 24 November 2003 - 10:32 PM

Thanks guys,

I am planning on contacting both places.
I am surprised about CIA the no shooting type of statement! Obviously you were too. These guns were made to shoot - same as my cars are made to drive.
Who counts how many times you shoot?? Theres no odo on a tsmg! biggrin.gif

Thanks again for the advice!

Mike

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#8 full auto 45

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Posted 25 November 2003 - 06:57 AM

One of the best insurance policies you can have for your arms is a large very well built fireproof safe bolted to the basement floor. Plus a alarm on the house like ADT helps alot.
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