# gun insurance



## 44magFMJ (Aug 14, 2006)

Couldn't find a more appropriate heading for this subject, so I'm placing it here. Hope it doesn't cause a problem.

Does anyone have the NRA additional gun insurance policy on their firearms called ArmsCare Plus?

I'm considering it, but they let you assess yourself and then calculate from that assessment the cost of the insurance to you. Problem is, is that when you file a claim for any or all firearms they then go to the blue book and tell you what your gun's worth and pay the claim based on that. Seems to me that it's all too easy to overassess yourself and pay a higher insurance premium than is necessary up front. Kind of like insuring a $10,000 car for $50,000 and when it gets totalled, you only get paid based on the real worth of the car.


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## SuckLead (Jul 4, 2006)

That does bother me. Although your best bet is to get your hands on a copy of the Blue Book and have someone else look them up. Don't do it yourself, because your 60% condition gun will look like 95% condition to you. Use a third party to look them up. 

I'm actually looking for gun insurance myself. We've got a few guns in the house now and I thought it would be helpful. Does anyone else offer it other than the NRA? And I can't use anything that is for home owners as I don't own a home.


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## 44magFMJ (Aug 14, 2006)

SuckLead said:


> .....And I can't use anything that is for home owners as I don't own a home.


Same here, and even if you do have homeowners insurance, it's not as comprehensive for firearms as the NRA ArmsCare coverage is.

Most other insurances that cover firearms don't do it exclusively like this one does. That is its a part of a larger coverage package for all of your personal belongings and the firearms part is usually feeble at best.


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## SuckLead (Jul 4, 2006)

I just took a look at the NRA insurance and it isn't too bad. I noticed, trying to figure out what I would pay, that covering some of my guns would be a bit tough. 

My K31 - apparently, on gunbroker.com, people are selling the same rifle for $300-$500 in the same condition or worse as mine. WTF?! What is it worth?! It's also been appraised at three different prices.

My Sig - it has some damage and needs a bit of internal work, but it is still a highly functional weapon. Without the internal issues I would consider the gun to be 85% condition (I'm eventually getting it fixed), 75% with the damage. How the heck would I classify it, and can I up the value of it if it gets fixed?

My S&W - weird situation there. I paid $373 for it, it sells on gunbroker.com for $500, had a guy offer my $800 for it a few months ago. I think he's crazy, so I'll stick to the $500 range. 

My question is... can you change it as the value changes? I'm sure the S&W may go up a few dollars the longer S&W keeps putting those locks on the revolvers (mine is pre-lock). The K31 may go up in value too once the surplus runs dry, which is coming soon apparently. Oh... and what counts as an accessory? 

I'm confused. And I am sorry, I just let that all out on you. LOL!


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## 2400 (Feb 4, 2006)

SuckLead said:


> I'm actually looking for gun insurance myself. We've got a few guns in the house now and I thought it would be helpful. *And I can't use anything that is for home owners as I don't own a home.*





44magFMJ said:


> Same here, and even *if you do have homeowners insurance*, it's not as comprehensive for firearms as the NRA ArmsCare coverage is.


If you don't own a home then get renters insurance and add the guns on a rider. Renters insurance covers *all of your* possesions but not the house.


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## SuckLead (Jul 4, 2006)

Unfortunetly I don't rent yet, either. I was hoping to get mom's guns tossed in on that, too. I fear the stupid that comes along with criminal: if it looks old it must be worth something.


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## JimmySays (Jun 8, 2007)

44magFMJ said:


> Couldn't find a more appropriate heading for this subject, so I'm placing it here. Hope it doesn't cause a problem.
> 
> Does anyone have the NRA additional gun insurance policy on their firearms called ArmsCare Plus?
> 
> I'm considering it, but they let you assess yourself and then calculate from that assessment the cost of the insurance to you. Problem is, is that when you file a claim for any or all firearms they then go to the blue book and tell you what your gun's worth and pay the claim based on that. Seems to me that it's all too easy to overassess yourself and pay a higher insurance premium than is necessary up front. Kind of like insuring a $10,000 car for $50,000 and when it gets totalled, you only get paid based on the real worth of the car.


I have homeowners and it goes for about $5000 unless you declare you have more value. I am quite sure it will be the same with State Farm as it will be with the NRA. You pay in excess until you declare a loss, then it's not going to be in your favor.
Alarm, safe, deadbolt locks and hopefully good neighbors(like mine, retired) to keep an eye on your house while your at work. Also ask God to keep an eye if he's not to busy.


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## SuckLead (Jul 4, 2006)

I'm pretty lucky on that side. My mom is usually home, and when she isn't, the neighbors on both sides of us are house wives, so someone is always around. And the neighbor on one side at least assumes we have guns in the house. I'm sure that after her last visit she's certain, seeing as how I got very over protective of my purse when her small children were in the house.


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## 44magFMJ (Aug 14, 2006)

Theft is only about 1/2 of my concern. The other is fire. Your mother being home, or having retired neighbors won't protect your gun collection against fire.


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## SuckLead (Jul 4, 2006)

That's true. Neither will a safe (they aren't smoke/water proof). But insurance wouldn't help in that case anyway. My guns aren't worth enough to bring enough money in to ease that kind of hurt.


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## JimmySays (Jun 8, 2007)

44magFMJ said:


> Theft is only about 1/2 of my concern. The other is fire. Your mother being home, or having retired neighbors won't protect your gun collection against fire.


 Fireproof safes have a very limited window of protection. If the fire is bad, and ammo begins to detonate the fire department will back off and let your firearms burn up along with your ammo. If you are like me and have an "ammo safe," small 8 gun stack on, it will burn up fast.


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## 44magFMJ (Aug 14, 2006)

SuckLead said:


> That's true. Neither will a safe (they aren't smoke/water proof). But insurance wouldn't help in that case anyway. My guns aren't worth enough to bring enough money in to ease that kind of hurt.


Never was touting getting a safe to solve the liability problem....insurance is the way I'm interested in going in order to recoup the value of my collection.


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## SuckLead (Jul 4, 2006)

I'm interested in the insurance as well. It won't make much difference for mine as nothing I have is real valuable aside from what value it has for me.


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## 44magFMJ (Aug 14, 2006)

I agree that the cost of insurance is not worth the trouble if the value of a persons gun collection isn't all that much, but the attachments we all have to many of our firearms is worth much much more than any insurance could ever pay back on. For instance I have a Remington model 700 that I bought, when I was a young buck in the military many many years ago, brand new for $88. If this gun was stolen or destroyed in a fire, the replacement cost would more or less be meaningless to me, because the gun has more value to me than the money, but we're stuck with what's available to us, so insurance is the closest thing to protect the intrinsic and extrinsic value of our guns.


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