Insurance policy’s?

[redneckchris]

Insurance policy’s?

What does everyone do as far as insurance coverage on your rifle collections?
I know from experience that a prs setup can easily cost several thousands of dollars quickly, not to mention my back up and trainer rifles....

I talked to my agent and this exceeds my house insurance max and I would need a separate riders and appraisal for my gear...

Kind of a pain to have specific policy’s for equipment that often gets traded, improved on, upgraded ect

Any advice??

Thanks

 

[Waterfowler]

No different than having "too much" on anything else.

 

[Bandits]

State farm insurance didn't have a limit on firearms and related equipment. Might be worth a look

Oh and watch out, the online information is mostly from the US and doesn't apply to Canada

 

[Cornflake Leader]

Any advice??

It's cheap and something every firearm owner should do. I updated my policy a couple years ago after my neighbor had his boat stolen, found out I needed to have a rider added to my policy to get over the $2500 base coverage for firearms. They didn't need serial numbers or for me to track what I owned, just pay a little extra for loss replacement (not just theft) up to $50,000.

 

[peterdobson]

Check with broker as there are different policies. Any collection should be supported with a detailed list and pictures.

Regards,

Peter

 

[redneckchris]

I spoke with my agent. State Farm. And was told they have a maximum amount under the standard household policy which isn’t really that much. I was told if I added a separate rider I’d need appraisals....
this seems like a bit of a nuisance if I were to continue buying/selling and switching up my collection... which I do...
Maybe the OFAH has a upgraded policy available?
Otherwise where would one go for firearm appraisals? I’m in the London area of Ontario

Thanks

 

[enefgee]

As noted, it depends on the policy - some insurers don't have a sub limit on firearms, some count them as sporting goods. In a homeowners policy that doesn't count them as sporting goods, and doesn't break them out as a separate item, they're covered under the policy limit for "personal property" as long as they're legal and properly stored. That's the best case scenario - since most property limits are high enough that they'll cover anything you might have.