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Joined: Mar 2005
Posts: 17,527
Campfire Ranger
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OP
Campfire Ranger
Joined: Mar 2005
Posts: 17,527 |
My renter's insurance only covers my firearms up to $5k. They told me I would need to get them appraised to have them covered for more.
Where do you go for something like this? Are there certain insurance things I should consider? I don't want to get worthless or the wrong coverage. I don't know a lot about different insurance obviously.
Thanks.
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Joined: Apr 2005
Posts: 7,259 Likes: 1
Campfire Tracker
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Campfire Tracker
Joined: Apr 2005
Posts: 7,259 Likes: 1 |
Ask your insurance agent who they will accept as the appraiser. It could be a gun store owner, gunsmith, or some other expert, like a recognized firearms collector or museum curator.
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Joined: Mar 2005
Posts: 17,527
Campfire Ranger
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OP
Campfire Ranger
Joined: Mar 2005
Posts: 17,527 |
My whole thing is I don't want Billy-Bob down the road to see my custom gun based on an M700, and write down it is worth $300 because it is a used Remington.
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Joined: Jul 2004
Posts: 139
Campfire Member
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Campfire Member
Joined: Jul 2004
Posts: 139 |
Just ask the insurance agent. Any reputable insurance company is going to have an appraiser on thier payroll. I appraise firearms for 6 different companies.
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Joined: May 2002
Posts: 10,641
Campfire Outfitter
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Campfire Outfitter
Joined: May 2002
Posts: 10,641 |
NRA has an optional insurance program. It's not cheap, but you don't have to list individual guns unless you want to declare a specific value. No serial numbers either.
Paul
Stupidity has its way, while its cousin, evil, runs rampant.
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Joined: Mar 2005
Posts: 17,527
Campfire Ranger
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OP
Campfire Ranger
Joined: Mar 2005
Posts: 17,527 |
I am also concerned with fine print, or not really understanding my insurance. I have heard stories of people saying they had $20k in firearms insurance, then when they get them stolen, they get a check for like $500. Something about being insured for "up to $20K", no guarantee or something. I actually want my optics insured too.
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Joined: Apr 2005
Posts: 7,259 Likes: 1
Campfire Tracker
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Campfire Tracker
Joined: Apr 2005
Posts: 7,259 Likes: 1 |
1. Don't use Billy Bob to appraise your guns
2. Photograph all of them, the entire firearm, both sides, and close ups of each section.
3. Keep a file of every firearm, SN, condition, purchase price, date, any marks or wear. Make copy, and keep it off premises.
4. Insure for REPLACEMENT value of each.
I appraise collections all the time, and help several people a year sell off large portions of collections (elderly people, heirs, attorneys). No one who does this competently, even for free, is going value anything too high or low, because of the liability issue, which carries criminal as well as civil penalties.
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Joined: Dec 2005
Posts: 7,018 Likes: 1
Campfire Tracker
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Campfire Tracker
Joined: Dec 2005
Posts: 7,018 Likes: 1 |
It's actually a very good practice to take a video of your home and it's items. In the eveny of a major loss, it will help you itemise your loss.
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