Guns and insurance

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Guns and insurance

Postby newportri » Fri Oct 09, 2015 1:51 am

There has been some talk about mandatory insurance on guns and it is obviously the gun grabbers that are at it and it doesn't have anything to do with making anyone safer, but about making it expensive for the law abiding gun owners. I did a quick search to see if anyone offered such a "gun insurance" (liability). I didn't find anything just for guns (maybe the people who propose mandatory gun insurance should check if it even exists, but I guess that is not important to them), but it looks like some home owners policies offer some liability as well as umbrella policies. It seems like there are often limitations on what is covered under a home owner's policy and there might be some pretty low coverage.
Does anyone here have any extra insurance on their guns (both for loss as well as liability)?
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Re: Guns and insurance

Postby SirSqueeboo » Fri Oct 09, 2015 2:20 am

I have an NRA one for loss, up to 100K of guns and attached accessories with the premium plan. It even covers you if it's stolen from your vehicle. I believe it costs $150/year.

Legal coverage I have a local one that provides criminal and civil legal coverage, including bail and expert testimony. I made sure to get it after the Zimmerman fiasco.

I've never heard of any other type.
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Re: Guns and insurance

Postby newportri » Fri Oct 09, 2015 3:07 pm

Good point on the NRA insurance, I might look into that.

Is the local insurance you got an umbrella policy or is it more specific to guns? What did you pay for that?
I had an umbrella policy last year, but I didn't renew it this year, I probably should. They also make you increase your auto and home insurance coverage quite a bit (I forgot what the minimum is) though so it is more expensive than just the policy.

https://www.armedcitizensnetwork.org/ can also help, but it is pretty limited to what they will do financially other than post up to $25000 bail which is not much. Zimmerman's legal bill ran into several million dollars I believe.
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Re: Guns and insurance

Postby n1bsbri » Fri Oct 09, 2015 3:31 pm

Just bear in mind that if something is going to be required by law, the insurance market will change and respond to the increased demand. So any knowledge of the current situation probably won't apply if mandatory insurance comes to pass.
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Re: Guns and insurance

Postby newportri » Fri Oct 09, 2015 3:41 pm

I just activated my insurance through the NRA. I didn't even know I had that, so thanks for your tip SirSqueebo! It is only $2500 though. I wanted to see how much it would cost for $100k (I wish I had that many valuable guns..) and it quoted me $1218.75/yr... That's a lot more than what you were paying, is it the same insurance agency? Is it that much more expensive in the North East?
http://www.locktonaffinity.com/nrains/ArmsCarePlus.htm
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Re: Guns and insurance

Postby SirSqueeboo » Sat Oct 10, 2015 1:02 am

My legal one covers only shootings, I believe it's around $200/yr. A friend of mine in NM killed a thug in a gas station robbery, and after talking to him it seemed like a worthwhile purchase.

As for the NRA loss one, I'm a benefactor member so that might give a big discount. It is the lockton one, let me check my policy to see if I'm mistaken on the coverage.
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Re: Guns and insurance

Postby newportri » Sat Oct 10, 2015 2:03 am

What's a benefactor member?
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Re: Guns and insurance

Postby Dirk » Sat Oct 10, 2015 12:58 pm

Yeah I have it but it runs me about $300 per year. I think I have around 20-30k coverage. It's from Lockton ArmsCare. I'll have to check.

Though I have heard that they are a terrible company and do everything they can to avoid payouts. May look into another company.
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Re: Guns and insurance

Postby MasterGuns2077 » Sat Oct 10, 2015 1:30 pm

I just activated my NRA insurance. I don't have many firearms at this point, might up it if my collection grows much larger. I am curious about self-defense insurance though. I know the NRA offers some coverage and I've heard of others. I clicked the Armed citizens link, any other groups that offer legal coverage that I should check out? Now that I have my permit, I feel a little more confronted with the possibility (I pray that it's never) that I might just have to use this weapon and some legal back up would certainly be necessary in that event.
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Re: Guns and insurance

Postby SirSqueeboo » Sun Oct 11, 2015 4:01 am

newportri wrote:What's a benefactor member?


He's a fool with money to waste. :D

Life membership is the bottom rung. There are three "Superlife" tiers. There's Endowment, followed by Patron, followed by Benefactor. I think it's $1,500 per step to advance beyond Life Member.
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