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High Spade Mikey Wilson

Firearm Insurance Question

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Recently sold my house and now rent. Started looking into renters insurance and want a rider to also cover my firearms. After submitting my information showing purchase prices, and estimated current prices, the agent sent me a proposal based on the estimated current firearm values that equates to $10 in premium per $1000 insured value. How does that stack up to some of you other folks who have your firearms insured? I thought it was reasonable. Thanks!

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Unfortunately I'm not speaking from experience because I haven't gotten off my lazy butt and done this yet.  That being said, I've been told by many MANY sources that the NRA offers very reasonably priced firearms insurance. Might want to check them out. 

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Check into Collectibles Insurance Services. Their prices are similar. Good news: no serial numbers or descriptions needed to insure, just value. To claim of course inventory, pictures and serial numbers. YMMV

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I have USAA and I believe i'm paying about $60 a year for an additional 15k on firearms. 

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That works out to 1$ per 100$ of coverage. That's about right from everything that I've seen. Most standard policies limit the theft of guns to 2000$. Normally the standard policy covers guns for the perils named on the policy. When you attach an endorsement for the guns, it becomes an all risk policy. That gives you broader coverage.

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unfortunately the rates make it difficult when on fixed or limited incomes , a good safe and careful living is your best-cheapest insurance , 

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Try Eastern Insurance:  Coverage Blanket Limit $45,000.  $100 Deductible   per firearm.   $10,000 Maximum Single Item Limit.  Cost me $150 annually.   Hope this helps.

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Just  signed up with Collectibles Insurance Services.  Very nice and easy to work with.  Best part is you don't have to give them the number of firearms to insure or the serial numbers.  Just tell them the value of all the firearms and they will send a price.

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Thanks folks. I needed to work all this in to a renter policy that would also cover my personal possessions as well as some tools and a lot of reloading equipment, some liability coverage, and the guns. I worked that all out with them on the coverage I wanted and signed the policy this morning. Thanks for the input.

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