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Insurance Value of my guns

dvines
I am in the process of buying my house and getting homeowners insurance. They asked me the value of my guns and I don't have a clue. I am hoping that some of you might assist me with the information or point me to a source.

I have a Marlin 336C 30-30 cal purchased new in 1974. Mint condition with less than 250 rounds fired through it.

I also have a Norinco SKS bought as a new unissued rifle in 1988. Less than 50 rounds fired in the gun.

I also have a Baretta A300 20-Guage auto bought new in 1974 with less than 15 rounds fired in the gun.

All of the guns are cleaned / oiled twice a year and kept wrapped inside leather gun cases.
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Comments

10 comments

Date Votes
  • duckhunter
    $700.00 but list as $1000.00 for replacement value.

    I WOULD RATHER BE DUCK HUNTING.
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  • dvines
    quote:Originally posted by duckhunter
    $700.00 but list as $1000.00 for replacement value.

    I WOULD RATHER BE DUCK HUNTING.



    Thanks, I really appreciate that.
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  • nmyers
    The greatest threat to those of us who own guns is not the monetary loss if something happens to them: It is the possible ruin of our lives if one of our guns is misused by a member of our household, or is stolen in a burglary by a sociopath who uses it to kill innocent people.

    I hope that you consider buying a safe for your guns; that's the best insurance.

    Neal
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  • dvines
    quote:Originally posted by nmyers
    The greatest threat to those of us who own guns is not the monetary loss if something happens to them: It is the possible ruin of our lives if one of our guns is misused by a member of our household, or is stolen in a burglary by a sociopath who uses it to kill innocent people.

    I hope that you consider buying a safe for your guns; that's the best insurance.

    Neal


    That is true, Neal. I am 60 years old, no family at home except the wife and myself. But, I believe I will go buy a safe as well.

    Thanks.
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  • targetshooter
    Most ins. co. will cover the first $1000.00 in the standard policy. When I checked on what it would cost to insure my fire arms, it was so bad that I went out and bought a $1500.00 safe and I have had it for five years now and it has paid for itself. By what I didn't spend on additional ins.
    Note: If you decide to buy a safe, get the electronic lock. you won't regret it.

    Down Zero
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  • diver-rig
    Got my collection relieved from myself last summer. Took my list and got prices off of this auction site.

    Insurance company said all my prices were correct, and gave me a check for $6000. I had never mentioned owning any guns at all to them previous to this.



    "If you can't get rid of the skeleton in your closet, you'd best teach it to dance."
    - George Bernard Shaw (1856-1950)
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  • bpost
    quote:Originally posted by targetshooter
    Most ins. co. will cover the first $1000.00 in the standard policy. When I checked on what it would cost to insure my fire arms, it was so bad that I went out and bought a $1500.00 safe and I have had it for five years now and it has paid for itself. By what I didn't spend on additional ins.
    Note: If you decide to buy a safe, get the electronic lock. you won't regret it.

    Down Zero

    The NRA also covers you for 1,000.00 with your membership. Additional insurance is available for about $1.60 per thousand of coverage. Good insurance coverages are better than a sleeping pill in my book.
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  • R Squared
    After being in the insurance business over 3 decades, I recommend two things: 1.Spend some time with your agent going over every word of your firearms coverages,and, 2. Use a camcorder to film your guns, and while doing that, voice record all pertinent info regarding each firearm such as make,model, serial number,purchase date(if known),purchase amount(if known),date received by inheritance,date received as a gift, etc. All of this information is invaluable at the time of loss and can be used by most any competent gunsmith or dealer to determine values at that time. For most of us, the list is constantly changing and your recordings can also be updated as neccessary. Hope this helps.
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  • tobefree
    quote:Originally posted by R Squared
    After being in the insurance business over 3 decades, I recommend two things: 1.Spend some time with your agent going over every word of your firearms coverages,and, 2. Use a camcorder to film your guns, and while doing that, voice record all pertinent info regarding each firearm such as make,model, serial number,purchase date(if known),purchase amount(if known),date received by inheritance,date received as a gift, etc. All of this information is invaluable at the time of loss and can be used by most any competent gunsmith or dealer to determine values at that time. For most of us, the list is constantly changing and your recordings can also be updated as neccessary. Hope this helps.


    Sounds like sound advice to me, but would pics do as I don't have a camcorder/
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  • dolfan
    I live in South Florida, hurricane alley. My policy with State Farm has a replacement value coverage of $150K for all contents including firearms. I also have replacement value (up to $300K) for the actual structure. Wind storm, theft, fire, etc., all covered. Policy has a 5% deductable. I have small children, so I keep most in safe. Rest are wallhangers (outgrew safe). Paid $800. for safe, it survived Hurricane Andrew, '92. For safety, I have no ammo for the hangers. As they say in the legal business, every situation is different, and you should discuss yours with ins. agent. Congrats on your home purchase.
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