Gun Records Keeping reminder for those who may have gotten lax.
01-23-2017, 10:00 AM
#12
Nontypical Buck
Join Date: Sep 2010
Posts: 1,834
Old timer may have missed it - I specifically pointed out there is additional coverage available from the NRA program, and the $2,500 is the FREE policy. The $2,500 coverage through the NRA is free with membership, and is only the free base policy. I've added more on mine. Accessories ARE covered in the NRA Arms Care policy too, not just "net appraisal."
What I've seen in MOST home owners insurance policies, it's NOT a replacement price policy, it's an appraised value policy. So all of the over a hundred firearms in my safes I've purchased NEW, I'd only be able to afford to replace them with USED firearms based on my past home owners insurance policies. I've also had all of these policies require itemization, photos, and serials. The NRA coverage does not - just a list with approximate replacement values I want covered.
That's the biggest difference I have seen - I have over $5,000 in a couple of my custom rifles, whereas they would only resale for around half of what it cost to buy and build them. The appraisal values used in my home owners policy would give me the resale price - so I could rebuild HALF of them. The values I'm insured for in my NRA coverage will let me rebuild them exactly as they are.
I have the entirety of my reloading inventory, all of my gunsmithing tools (and woodworking, auto, metalworking, etc tools), my safes, firearms, firearms PARTS, optics, accessories... The whole nine yards... EVERYTHING covered for total replacement. Not appraised value, total replacement. It costs a bit, but if I ever have a fire, theft, flood, tornado, nat gas explosion, civil unrest, you name it, my life comes back to square one, not one half.
What I've seen in MOST home owners insurance policies, it's NOT a replacement price policy, it's an appraised value policy. So all of the over a hundred firearms in my safes I've purchased NEW, I'd only be able to afford to replace them with USED firearms based on my past home owners insurance policies. I've also had all of these policies require itemization, photos, and serials. The NRA coverage does not - just a list with approximate replacement values I want covered.
That's the biggest difference I have seen - I have over $5,000 in a couple of my custom rifles, whereas they would only resale for around half of what it cost to buy and build them. The appraisal values used in my home owners policy would give me the resale price - so I could rebuild HALF of them. The values I'm insured for in my NRA coverage will let me rebuild them exactly as they are.
I have the entirety of my reloading inventory, all of my gunsmithing tools (and woodworking, auto, metalworking, etc tools), my safes, firearms, firearms PARTS, optics, accessories... The whole nine yards... EVERYTHING covered for total replacement. Not appraised value, total replacement. It costs a bit, but if I ever have a fire, theft, flood, tornado, nat gas explosion, civil unrest, you name it, my life comes back to square one, not one half.
