Thoughts on insurance & display

Started by Pangaea, May 07, 2015, 01:59:23 PM

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Pangaea

I thought I would ask the opinion of many of the readers here.  I recently bought a couple of display cabinets for my office to put a number of my USFAs in.  I have most of them in safes, with the usual monitored alarm system, cameras, serial numbers, etc., but I hate the idea of always having them stored away where they can't be seen and enjoyed, just for the sake of their intrinsic beauty.

Anyway, do any of you display your USFAs, Colts or other treasures openly, to you and your guests of course, but not in plain view to the outside world?

Another question is advice on insurance.  A gentleman I purchased a gun from a while back sent me some literature on Eastern Insurance Group LLC.  He has his weapons insured by them and says that they are quite reasonable.  Any of you dealt with them or have an insurance provider you like? My current rider on my homeowner's policy is quite expensive. 

Any advice would be appreciated.

Thanks

Capt. John Fitzgerald

Pangaea,
I wouldn't count on any insurance company covering the loss of firearms that weren't securely locked away.  As much as most insurance companies would like you to think that they are "your friend," they will look for any, and every, way to get out of reimbursing you for your loss.  Once they hear that your firearms were open to view, and not properly secured, I am willing to bet that they will try to lay the blame on you.  All this as a result of the fact that firearms have become such a hot-button issue of late.  Their logic... i.e.; the government allows you to buy a gun safe tax free.  Therefore, you should have bought a gun safe.
Too bad!  I, too, would like to display my collection to visitors.    
You can't change the wind, but you can always change your sails.

Major 2

when planets align...do the deal !

Capt. John Fitzgerald

Beautiful, Major 2!  Tell me that's for real!!! 
You can't change the wind, but you can always change your sails.

Pangaea

Thank you for the perspective Captain.  It's not the money loss that I would be most concerned about, just the fact that these weapons no longer being made, could no longer be replaced easily, same for Colts, Winchesters, Henrys and more.  The grab and run are the only ones I really worry about.  I'm going to look into the insurance I mentioned that has been recommended by another collector on this board.  I really like being able to walk up and enjoy these guns everyday.  Hopefully if any intruder does gain unlawful entry, maybe I'll get the chance to dispatch he/she with a more modern weapon of the day.

Good health and shooting to everyone,
Philip

Major 2

when planets align...do the deal !

Deadeye Don

I have a blanket collections policy that covers my guns anywhere with CHUBB insurance.  Unless it is specifically stated in your policy that guns have to be in a safe then they would be covered if someone breaks into your house and steals them they would be covered up to the policy limits even if they are not in a safe. Just be sure to have good documentation of your guns. 
Great Lakes Freight and Mining Company

Trailrider

What sort of rate per thousands value do they charge? I've had coverage on some pieces of iron & wood, but hadn't updated the value in years. When I went through an analysis (based on The Bluebook as well as prices I've seen at antique gun shows), I was shocked! With a quote of about 3.1% by one insurance outfit, I couldn't afford it! Not sure if there are other potential insurance outfits that will cut some slack on the rate. Any opinions, suggestions, etc.?  ???
Ride to the sound of the guns, but watch out for bushwhackers! Godspeed to all in harm's way in the defense of Freedom! God Bless America!

Your obedient servant,
Trailrider,
Bvt. Lt. Col. Commanding,
Southern District
Dept. of the Platte, GAF

Pangaea

I believe my current insurance is $ 5.00 per $ 100.00 per year.  The guns must be photographed, if they exceed $ 15K then they have to be appraised. 

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