Will my hom insurance policy cover the collection of guns that I own?
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Asked July 25, 2013
Home insurance will cover personal property such as guns, but a valuable collection might be better protected with a separate policy. The problem is that a homeowner's policy is limited in how much it will pay for a personal property claim. Since a gun collection can become expensive very quickly, a standard policy may not be sufficient for your needs.
Where a gun collection is concerned, your insurance company may require you to keep the weapons in a locked gun safe. This eliminates a great deal of the liability risk associated with guns, where someone may have access to them without the consent of the responsible owner. This requirement is just as true for gun collections as it would be for the rural hunter, and those companies which do not require a gun safe will usually charge much higher rates to compensate for the risk.
Not every insurer will be interested in insuring your gun collection as part of a homeowner's policy. If your current company does not include gun collections, try shopping around for a new home insurer. You start shopping on this website, with a free online homeowner's insurance quote. By shopping around, you may be able to get your gun collection insured without spending any additional money.
For the best insurance coverage, you should buy a separate personal property policy expressly for your gun collection. That way, when you buy, sell or trade a weapon, you can have it added to the existing policy without having to recalculate your entire home insurance policy. Most insurance companies will recommend insuring high value items like weapons and jewelry separately because it provides you with a better level of coverage with a better chance of receiving the full value for damaged or stolen items.
Answered July 25, 2013 by Anonymous