I had a flood in my basement several weeks back and the first thing I did was get my shotgun out from under a bad. The gun and case was totally dry and didn't lead a drop. I opened my case tonight and was disgusted to find my gun completely covered in rust. Is this something that a gunsmith can fix or am I pretty much screwed?

did you try to oil the gun? If it's just surface rust, oiling should take the rust off.

I tried that. It removed a little but it is a little deeper then surface rust now. I don't think that it is to deep to be fixed though.

It's almost impossible to say without seeing the gun in person. NEVER store guns in cases due to condensation and the fact that you can't tell at a glance if the guns need to be oiled/wiped down/cleaned.

Unless you're willing to re-blue the gun yes you are pretty much screwed. Sorry.

What I believe occured is that the padding in the case absored the moisture and you gun was trapped in a moisture chamber.

Tom

Try taking it off yourself with Break Free CLP and 0000 (ultra fine) steel wool. Should not hurt the finish but start on an inconspicuous spot first. Too coarse of steel wool will remove finish, but amazing what the super fine soaked w/oil will remove.

Sorry to hear of your rust problem. Not to rub it in, but I want to reiterate what another has already said.... never store guns in cases... only transport them that way ... assuming it might be safe in your house (no kids etc) you're better off standing the gun in a corner of a closet not in a case than leaving it in a case... air circulation around the gun will resist condensation form settling...A cheap metal gun locker (you can get a 8 gun cheapie with decent locks for under $100.0 if you watch the sales) is a pretty good way to go.
Now that you've got the rust all over the gun you probably are looking at a complete blue-job.
Take it to your most trusted smith and get an opinion and a price.
The good news is that if you have to get it blued you're gonna end up with a pretty new finish to admire and maintain.

Yes, a new blueing job is in sight. It's very close to impossible to get out deep rust on a blued gun.

Maybe a dumb question, but here goes...... If you had any damage that required a insurance claim from the flood, would insurance take care of gun repairs? Or would you have to have a special writer on your policy that covers guns? Say you have a $500 deductable on your house and the flood ruined some personal property that would normally be covered.....are guns?

Speaking of insurance, if you are an NRA member you may be covered up to $1000 (last I knew of). Benefit worth checking.