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Thread: Storing Firearms & Ammo at home will it impact my Home Insurance

  1. #11
    CGN Regular Shooster's Avatar
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    Quote Originally Posted by Ironheart View Post
    its not even worth telling them.....they will cover only up to 1000$ or 2000$ and it falls under sporting goods with most insurance companies

    ^^^ Definitely NOT the case with my policy/company.
    "Let the shoosting begin!!!" - Goldmember - Circa 2002

  2. #12
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    Quote Originally Posted by miscou kid View Post
    Tell them pay a couple dollars extra, don't be stupid not worth it.I could write ten stories of people I know who didn't

    Exactly.
    "Let the shoosting begin!!!" - Goldmember - Circa 2002

  3. #13
    CGN Regular lucsergerie's Avatar
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    I pay extra 35$ a year for 50 000$ coverage

  4. #14
    CGN Regular leebuilder's Avatar
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    Told my insurance company. They said it was somewhat maybe covered. I told them what i had, they replied "no, you are on your own". I kept bugging them because i can and thier answers pissed me off. According to them needed to get independent appraisal done and could get insurance thru a subsisduary company for more money. I find it funny, not done with them yet. I have monitored alarm system and other measures in place. I will shop around to get better service.
    My buddys house had a B&E at his residence, his rifles were stolen, his insurance company had every excuse not to pay, some i never would of thought of. I called on his behalf with simple info some quotes from the CFC/RCMP website, they payed out.
    Good luck

  5. #15
    CGN Regular Rocket_James's Avatar
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    Quote Originally Posted by Trimmer 905 View Post
    Unless you have collector grade or premium grade firearms that you need covered on a separate policy rider,you're under no obligation to declare anything to your insurance company. Your firearms are insured automatically under your homeowner's policy. Your deductible will be greater than the value of a lost,stolen or damaged firearm making reporting the loss a waste of time under most circumstances save a fire or theft. In that case of a total loss,photographic evidence as proof of ownership will be required to file a claim. Just as an aside,people are very wise to photograph/video the entire contents of their homes paying special attention to valuables like art work and jewelry.
    Agreed! anything you "list" will just cost you more $$$$, because it is added to the value of your policy when it is likely already covered.

    IMO, any special or collectable guns do not need to be mentioned or listed unless they exceed your policy limits for household or sporting equipment. The insurance broker is the first one to ask (or demand) you to list "things" so he can charge you for those "things", don't fall for that game.

    ATV's, vehicles, etc. DO need to be listed.

    ..special "things" worth more than the policy limits DO need to be listed.

    example..if you have $50,000 worth of furniture and $5000 work of guns and your contents insurance is $50,000, then you can bump up your household limit to 55000 or be prepared to replace everything for 50000.

    I would take the latter approach because 99% of the time the claim will be partial and rarely a full replacement.
    My firearms form part of freedoms defined under the charter of rights and cannot be removed without permission from God or my wife.

  6. #16
    CGN Regular 686 Shooter's Avatar
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    I have worked for an insurance company for 23 years now.

    "Don't tell your insurance company" is the worst advice you can take. It is your responsibility to tell your insurance company anything that may be material to them accepting your application or setting the premium price. If you do not advise them of this, it can lead to your insurance coverage being denied in the event of a loss. You agree to this when you sign the contract with an insurance company. People like to talk tough and say its none of your insurance companies business what you have in your home. But the fact is that it is their business because if it is damaged, or causes a loss, you expect them to pay for it. Saving a couple of bucks on premium is not worth the risk of not having coverage if something happens.

    As someone who works for an insurance company I would recommend going to an independent insurance broker. Tell them what you have and they will work with you to find the company and coverage you need. There are companies that cover your firearms, equipment, powders, etc. with no restrictions or additional costs. So a broker will be able to find you the coverage you need.
    Last edited by 686 Shooter; 02-10-2018 at 12:59 PM.

  7. #17
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    I never mentionned it to my insurance company.
    Years back one of my guns was stolen in a break-in. they covered it.

    coverage differs from one policy/company to another. I would suggest anonymously asking companies what their policy is for firearms, then decide which to use.

    Youza.

  8. #18
    CGN Regular bcbravo2zero's Avatar
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    Quote Originally Posted by 686 Shooter View Post
    I have worked for an insurance company for 23 years now.

    "Don't tell your insurance company" is the worst advice you can take. It is your responsibility to tell your insurance company anything that may be material to them accepting your application or setting the premium price. If you do not advise them of this, it can lead to your insurance coverage being denied in the event of a loss. You agree to this when you sign the contract with an insurance company. People like to talk tough and say its none of your insurance companies business what you have in your home. But the fact is that it is their business because if it is damaged, or causes a loss, you expect them to pay for it. Saving a couple of bucks on premium is not worth the risk of not having coverage if something happens.

    As someone who works for an insurance company I would recommend going to an independent insurance broker. Tell them what you have and they will work with you to find the company and coverage you need. There are companies that cover your firearms, equipment, powders, etc. with no restrictions or additional costs. So a broker will be able to find you the coverage you need.
    Good advice. There are presumptions being made here by people who clearly don’t understand how insurance works.
    Insurance is a contract between you and an insurer to cover you for specific losses under specific circumstances. You pay for the coverage; the insurer assumes the risk of covering you for the types of losses defined in the contract. Read the text of the contract carefully, and/or get advice from a professional. If you want specific coverage, then disclose what you have and what you want covered. Don’t assume. Failure to disclose is one of the most common reasons cited for denial of coverage.
    "Among the many misdeeds of British rule in India, history will look upon the act of depriving a whole nation of arms as the blackest." - Mohandas Gandhi

  9. #19
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    Lots of advice here but the first bit of advice is to read your policy, paying particular attention to "exclusions" and sublimits on types of Contents.
    Next step, if still unsure is talk to your Independent Insurance Broker and ask them. Get their answer in writing - an email is a good way to document it.
    If you are dealing direct, i.e. not through a Broker then you had better be an expert in reading your policy yourself.
    In spite of what some have suggested here, "everything" is NOT covered under your Homeowners / Tenants Policy.
    There are exclusions and sub limits.
    Some policies have sub limits for "Sporting Goods", some don't.
    Some policies exclude "damage while in use" for Sporting Goods. Better ask for a definition of that.
    Some policies have low sublimits for "theft from vehicle", might affect your claim if your guns are stolen from your truck while out hunting.
    If you are asked about firearms or reloading you must answer truthfully. If not asked you do not have to say anything about firearms however reloading might be a necessary disclosure.
    Over 45 years in the Insurance Industry in positions ranging from Underwriter to Canadian Claims Manager to President to Owner, have handled a few "firearms claims" and obviously I am a firearms owner.

  10. #20
    Newbie DW44VH's Avatar
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    I am a renter with $60,000 coverage, I spoke with my agent regrding my firearms. My insurance allows for up to $10,000 for the coverage of my firearms. If I had needed more we would have adjusted my policy to ensure coverage. My broker requested that I document models and serials, but didnt ask that I turn them over. I have to agree with Iron Glove, everything in writing and above board.

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