Tuesday Insurance Questions… Firearms Insurance, Insurance Discounts for Engineers, Insurance Company Ratings

Here is another round of our “Tuesday Insurance Questions”. If you haven’t QuestionMarkalready, make sure to jump into the conversation by ‘liking’ our Facebook Page.

Question: Are my firearms covered on my homeowners policy?

This is one of our most common questions and probably the subject with the greatest amount of confusion. Firearms are covered on your homeowners policy under “personal property” coverage and subject to special limitations.

Firearms are limited in coverage for losses caused by theft. The amount of coverage is often as low as $1500 depending on the policy.

If you have valuable firearms it is very important that you check with your agent to see the specific coverage your policy provides.

You may be best off to add either “scheduled” or “blanket” coverage to your policy. “Scheduled” list each specific firearm and a “stated value” to replace that firearm. “Blanket” coverage provides coverage for an entire collection of firearms up to a total limit without listing each firearm.

By “scheduling” and “blanketing” your firearms you coverage extends to “all risk” and is not subject to your deductible. “All risk” coverage provides coverage against all unintentional causes of loss including breakage and losing.

We have seen it before. Once a Beretta Onyx was dropped nearly 50′ off of rimrock while the insured was hunting. The second was a deer rifle was left leaning against a tree and was gone when the mistake was realized and the insured returned.

For more info you can view our previous post on this subject… 3 Questions Answered About Insuring Your Firearms or Is the NRA the Best Way to Protect My Firearm Collection 

Question: What kind of insurance discounts for engineers do you offer?

We offer both auto and now homeowners discounts for engineers. If you are employed as an engineer we offer up to a 17.5% discount.

Question: How can I tell what an insurance companies rating is?

We often talk about the “rating” of an insurance company in regards to its financial stability. Those ratings are given by companies such as A.M. Best. 

The importance of financial ratings is mainly the stability of the company. An insurance company with excellent financial ratings is more likely to have stable rates and less fluctuation than lessor rated companies.

In regards to the claims and customer service aspect of a specific company we think the best idea is to talk to a trusted agent. As an agent we deal with the claims and customer service aspect of insurance companies. That experience allows us to offer insight into what to expect from each specific company.

That completes this weeks questions. We hope it was helpful. We look forward to your comments or questions!

You can reach us @ 661-327-5531 or by email at agent@crosbyandcrosby.com

Is NRA Insurance the best way to protect your firearms?

Being a member of the NRA has many benefits including coverage for your firearms. I often am asked, “is the NRA insurance the best way to hollandandhollandprotect my firearms?”

The insurance policy offered to current members of the NRA covers, “firearms, airguns, bows and arrows against theft, accidental loss and damage” up to $2,500.

Insuring Larger Collections

For some gun owners the included NRA insurance may provide adequare coverage. You can purchase additonal coverage under the NRA plan for $17.40 per $1000 in coverage. 

For collectors, shooters and hunters that have substantially more expensive firearms collections the best bet is looking for a policy that offers “blanket protection”. Many gun owners do not want to provide serial numbers for each firearm to an insurance company. A “blanket” policy covers the entire collection without any need to hand over serial numbers or even details on your collection.

Limits per firearm up to $10,000 are available. For more expensive firearms a “schedule” can provide protection for the highest value items. Scheduling a firearm requires a serial number, description and many times an appraisal.

Benefits our our firearm coverage:

- rates as low as $12 per $1000 in coverage

- ability to cover firearms up to $10,000 in value under a blanket policy

- covers firearms for “all risk” includes damage, accidental loss and theft

How we insure firearms?

For our clients we offer “blanket” and “scheduled” policies as part of a home insurance package. We represent great companies that offer specific coverage on both liability and property that gun owners appreciate.

Here are just a few of the firearms we are currently insuring for our clients…

M. Padrone Chukar Model – $6,000

Colt SAA- $3,000

Holland and Holland 12 ga- $12,000

Winchester Model 42 Pigeon Grade- $4500

Contact us and talk about your insuring your firearm collection

You can get a live online comparison quote with us here. To talk with us about insuring your gun collection, call us at 661-327-5531 in California, 208-366-8366 in Idaho

Come visit us in Bakersfield at 111 “H” Street

Or email us at agent@crosbyandcrosby.com Learn more about us online www.crosbyandcrosby.com or more about firearms insurance at http://www.crosbyandcrosby.com/category/firearms-coverage/

You can chat with us below…

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Some of our favorite gun sites are:

www.calguns.net

www.crpa.org

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3 Questions Answered About Insuring Your Firearms

1. Does my homeowners insurance cover my firearm collection?

Answer: A regular homeowners policy provides limited coverage for your firearms. That coverage is usually limited to $1500 for losses caused by theft. The coverage also limits the losses your collection is insured against to, “named perils”, such as theft and fire.

Solution: We offer enhanced home policies with many of our companies that provide more coverage for firearms, up to $5000. We also offer both scheduled and blanketed firearm coverage. A schedule or a blanket can cover your firearms for “all risk”. Your firearms are covered beyond, the normally covered perils, to include things like losing a firearm because of a capsized duck boat or damages from breakage caused from dropping a weapon while hunting.

2. Do I have to give you each individual firearm’s serial number and other details?

Answer: If you are scheduling a firearms collection each firearm and it’s information would need to be listed on the policy.

Solution: By covering your firearms on a blanket policy you can insure your entire collection without giving the details of each firearm. Your entire collection would be covered up to  a certain value. This works great for all but the most expensive individual firearms.

3. Is it expensive to insure my firearms?

Answer: It is more affordable than ever to insure your firearm collection and there are better options than ever.

Solution: By combining you home, auto, and firearms collection under the same company you can save up to 30% on your home and auto. Your firearms collection can be insured for as little as $10 per $1000 of coverage.

We can be reached by phone in California at 661-327-5531, in Idaho at 208-366-8366, by email agent@crosbyandcrosby.com or live chat below.

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Crosby and Crosby Insurance has been helping our customers find great insurance since 1963. We are licensed to write business in California, Idaho and Wisconsin.

What will my insurance company say about my guns?

It is such a common question and often fills internet forums- “What will my insurance

When we aren't helping people with insurance we are likley in the field or on the range

Ryan Crosby on the range-"When we aren't helping people with insurance we are likley in the field or on the range"

company or agent say about my guns?” Hopefully they will ask when would be a good time to meet at the range and try them out!

We would probably tell you our liking for; large caliber Glocks, American Rifles and Italian shotguns.

If you are concerned what your company or your agent will say if you inquire about your insurance and firearms, you may need to reconsider who you do business with. If you collect firearms and are involved in shooting sports or protecting your family by carrying a firearm open or concealed you need to have a conversation with your insurance provider.

The Collection: Insuring your collection of firearms has never been easier. There are now options that can cover your entire collection under one “blanket” limit. You can avoid the issues with serial numbers and potential issues with that information entirely.

The Protection: Participating in shooting sports is statistically less likely to cause injury than many other hobbies. But potential liability issues are often highly publicized and litigated. Whether you need protection for sports or personal defense you need to know if you liability coverage fits your needs.

Lets talk guns: If you are located in California, Idaho or Wisconsin we would love to answer your insurance questions and talk about guns. We can always be reached at 661-327-5531, 888-710-7816 or by email @ agent@crosbyandcrosby.com

How do I insure my guns or firearm collection?

Your normal homeowners policy includes limited coverage for firearms. Your coverage is limited to “named perils” such as fire and theft and losses caused by theft are usually further limited to a lower dollar amount. Many policies limit coverage for theft of firearms to only $1500.

Getting more coverage…

There are 3 options on getting more coverage for your firearms:

  1. Scheduling each specific firearm: you can schedule each specific firearm for an agreed value to be paid in the case of a loss. I.E. you schedule your Browning Citori Featherlight for $2500 in value. Your Citori is now covered against “all risk” for $2500. Losses are not subject to a deductible.
  2. Blanket coverage: in our opinion the best way to cover a firearms collection is a blanket limit. If your total collection is worth $5000 you can blanket the coverage to cover each individual firearm and the entire collection up to $5000. Losses are not subject to a deductible.
  3. Write your home policy in an enhanced program. By taking an enhanced home policy you can have higher coverage limits in the policy. Kemper “Elite” covers firearms up to $5000 on an “All Risk” basis. Travelers “Platinum” covers firearms up to $3500 and Travelers “Platinum High Value” covers firearms up to $6000. Losses are subject to your homeowners deductible.

How much?

To schedule or blanket firearms the cost varies by county but prices start at $18 per $1000 in coverage. A $5000 policy would cost as low as $90.

What if I don’t want to list my firearms and serial numbers?

By using a blanket limit you can cover your whole collection without listing each firearm. You collection and each item will be covered for a single limit. It is always good to use a inventory sheet like this available at California Rifle and Pistol Association.

What about scopes, binoculars and other shooting gear?

We can blanket cover your optics and other shooting gear with both Kemper and Travelers Insurance. DO NOT be like our insured who turned a canyon corner and his Swarovski binoculars flew off the dash and out the window.

We are always able to help you answer any questions on your coverage. Remember each company is different so our blog should be considered general insurance information.

We can always be reached at agent@crosbyandcrosby.com, 661-327-5531 or an office visit at 111 “H” Street.

What Kind of Insurance Coverage Should I Have for a Concealed Carry Permit or CCW?

If you have made the decision to carry a firearm for your protection you should do two things immediately…

  1. Make contact with a criminal defense attorney who is experienced with and friendly to 2nd Amendment Issues.
  2. Find an insurance agent/company who is also experienced and friendly to 2nd Amendment Issues.

Criminal

Your first contact with an experienced defense attorney will help you prepare for the situation that you are forced to use your firearm in defense of yourself or another person. Should you happen to be charged or threatened with charges, your first contact will be your criminal defense attorney and having already made a contact will make an already stressful situation easier to deal with.

Civil

This is where having an experienced insurance agent and a 2nd amendment friendly company is going to come into play. You maybe civilly liable for damages to person or property caused by your acts. A civil suit may be filed not only from the person/family whom you injured/killed in your defense but also from other parties whom had bodily injury or property damage. I.E. You defend yourself while in fear for your life while be robbed at a gas station, you fire 2 shots with one shot passing through the assailant and injuring an innocent bystander standing behind them. You are likely going to be sued by the bystander for the injuries that they sustained.

What you need to consider

There are 2 parts of a possible civil case that you need to consider. First is personal liability, that is damages that your actions caused and you are responsible for. Secondly is your legal defense to the civil suit, that is your legal representation to defend you against the suit.

Homeowners Coverage

 

-         May provide coverage under your personal liability

-         Usually limited to $500,000

-         Specific wording on defense not included

-         Covers legal defense cost (civil only)

 

Umbrella Policy

 

-         Provides for additional liability coverage up $10 million

-         With the right company will provide specific wording to include “reasonable force”

-         Covers legal defense cost (civil only)

 

To property protect your civil liability you need to consider a homeowners policy with maximum available liability limits and an umbrella policy with suitable limits for your needs and specific wording that includes protection for:

 

“Bodily injury” resulting from the use of reasonable force by an “insured” to protect persons or property

 

If you would like to discuss your options in more details we can be reached at 661-327-5531 or email us. You can also get an online quote at www.crosbyandcrosby.com we are supporters or the 2nd amendment and experienced in firearms issues and personal insurance.