House Insurance & Guns

[Lastcar]

In light of the revived thread about the guns stolen in Kelowna a few years back...

Anyone have any insight into whether house insurance (contents portion) covers guns? I can't see why not, but there are always little loopholes in insurance policies to save them a few bucks here and there when they have to pay out.

Early on in the gun ownership but like most things I do my best to secure my possessions within reason. I settled for a cabinet bolted to the wall for now. Don't have to tell you guys this is an expensive hobby to pick up.

But assume that in the event of theft, fire or other I'd lean on my insurance. In time I'd spend the dough on the higher end safe.

Theory is my odds of hunting every year are far higher than having my gear stolen. So I am playing the odds by buying the gear I need (and of course the gear I don't need too) and comprising on securing the guns, optics and electronics. For now.

Naturally this is a much better question for my insurance provider. I'll follow up with them this week and let y'all know what I hear back.

But from your experiences or knowledge, what say you?

[Everett]

My Insurance provider covers Firearms to the full value of our policy as long as they a legally owned.

[knighthunter]

I was recently reading on another site where a guy's house burnt, he lost everything including his firearms and his insurance wouldn't cover them. Maybe there's something extra a person has to pay for to cover firearms or some insurance company's policy's are different.

[albravo2]

been wondering the same. good thread.

[finngun]

my buddy lost more than 10 guns to break in few years back...his inc.. cover all his guns. took long time,,yes ..but finally all was ok..

[Iron Glove]

This has been extensively discussed on Gunutz but ....................
Your firearms are considered as personal effects or contents just like your underwear, tools and furniture.
Coverage MAY, depending on your Insurer be subject to a specific limit like jewellery, fine arts, stamp collections, etc. Check your policy to be sure. If it's not limited to a specific amount then you basically have your entire policy contents limit. If it is limited, ask your Insurer to increase the amount. That might involve listing your firearms with values and paying an additional premium.
Coverage will be for replacement cost, i.e. you lose your 1970 Remingtom 700, you get a brand new one if you replace it. If you don't replace it and choose to "cash out" then you get the cash value of a 1970 model.
Firearms are generally considered as "Sporting Goods" and they may be subject to special conditions such as excluding loss "whilst in use".
The policy will exclude any loss if they are "illegally kept or acquired" - that applies to all your personal property. Might be a problem if you have a firearm and no PAL or an unregistered restricted firearm.
So:
1. Read your policy
2. If in doubt ask your Independant Insurance Broker for advice.
3. Remember, every policy is different.

[Ringo 7MM]

If your firearms are in the house and are legally owned, then they are house contents.

[Timbow]

Been there. My home was broke into and the piece of sh.t took two of my guns that were in the metal gun cabinet. At the time we still had the gun registration. Luckily both guns were registered as the insurance provider told me that if they were not registered I would be out of luck. Both were replaced with no problems. I had to so proof that the guns were in the cabinet. That was verified in the police report and through pictures I sent them to show the cabinet was broke into. They also replaced the cabinet which I used the money to upgrade to a gun safe.

I believe the guns will be covered by insurance but they have to been stored properly as outlined by Canadian law.

[quaint bucket]

My Insurance provider covers Firearms to the full value of our policy as long as they a legally owned.

Which insurance company is that?

[aggiehunter]

Most if not all companies cover firearms legally owned..in fact it usually states that anything illegally owned is not covered. Illegal activities are also not covered under your policy..so...if your heatlamp growing your one pot plant burns your house down and you don't have a ticket to grow for medical use..your claim may be denied. If you have very valueable antique firearms that cannot be easily or readily replaced you can Insure them under what is called a floater using a current appraisal.

[andrewscag]

Just talked to my agent a couple of weeks ago and brought this up while we were talking. Intact insurance through Mardon and Campbell covers guns like every other household good as long as they are owned and stored legally.

[russm86]

I went through this last year with tenant insurance. Coverage of firearms varies from company to company. Some insurance companies require a separate rider for firearms coverage, just as some do with jewelry, sports gear/equipment, or fur coats. Some don't require any separate riders for sports equipment or firearms at all and they are just covered under your contents as long as you have enough overall coverage. I have found a lot of the American owned insurance corporations have no issues covering firearms and they are just considered as any other standard contents so you just have to make sure your claim coverage is enough for all your personal belongings including the firearms, possibly because it is a more common thing down there? I know I looked at BCAA for insurance and to include firearms you had to add a separate rider at outrageous prices and all kinds of excessive unnecessary paperwork requiring appraisals and every detail about each firearm (serial #, proof of registration (when it was in effect, etc.) as well as proof of how and where it was stored and any time you added or removed a firearm from your collection you had to go and fill out more paper work and have witness and appraisal and everything all over again. Also, I can't remember for sure now, but as I wasn't the owner of the property there was some issue that required me to have the actual owner sign off on the paperwork or some crap and he would have to give a signature anytime I added to the collection or anything. I'm using the word collection loosely as it is just my personal collection of hunting rifles not any kinda of huge antique firearms collection. It is still good practice to document all your valuables as I do with pictures and copies of receipts etc backed up on SD card and flash drive at the bank and in my safe. I just thought the BCAA stuff was ridiculous BS especially at the rates, I believe it was something like $100 per $1000 of coverage or something absurd.

PS: I am also with Intact now and, as Andrew mentioned above, they include firearms in your contents just make sure you have included them in your insured $ amount for contents. I believe it was Family Insurance I had used previously that also covered firearms as contents with no special riders or questions asked.

[Rock Doctor]

I lost a rifle in a boating incident a while back, and my House Insurance covered the loss. I believe I have to pay a premium on my insurance to cover the guns though, maybe because I have so many of them.

RD

[srupp]

Hmmm..I have BCAA...been good to us, had a b&e lost a shotgun...all was good...except rcmp and what constituted safe storage....only downside to BCAA..restrictive sporting goods...for coverage away from my residence....no limits when at our res. Been a good insurance company.

Srupp

[BearStump]

From my experience most insurance companies wil cover firearms. They will fall into the sporting goods portion of your insurance and most likely will have a maximum benefit of $5000 for sporting goods. If you have more than $5000 worth of sporting goods its up to you to insure for a higher amount. Which of course will cost you more.
Buddy of mine is a fraser river guide and his place got broken into. There was about 25-35 thousand worth of rods, firearms and gear stolen from him and he was S.O.L. with insurance. He got the $5k payout and not a penny more.

[leadpillproductions]

What about if your guns are stole out of your vehicle ?

[aggiehunter]

Bearstump..Your buddy should have had a another policy...you can't mix personel use items with business use items under a personal homeowners policy...I'm surprised they paid the $5,000 but it might have been stuff he didn't use in his business.

[Pre '64]

What about if your guns are stole out of your vehicle ?

In this situation your home insurance covers them.

[bighornbob]

In this situation your home insurance covers them.

Once again it depends on your insurance company. My original company only paid a maximum of 1000 for items stolen out of a vehicle. I started adding things up, gun 2000, optics and electronics about another 1500, back pack 400, tent 400.

As you can see it adds up quickly, so I looked into another provider. I found one that did not have a maximum as long as I was away from the house for more then 24 hours. This was exactly what I was looking for as I carry the majority of my gear when I am staying out over night. When I do day trips I never stop at the store or anything like that on my way home.

Shop around and ask lots of questions.

BHB

[Iron Glove]

Once again it depends on your insurance company. My original company only paid a maximum of 1000 for items stolen out of a vehicle. I started adding things up, gun 2000, optics and electronics about another 1500, back pack 400, tent 400.

As you can see it adds up quickly, so I looked into another provider. I found one that did not have a maximum as long as I was away from the house for more then 24 hours. This was exactly what I was looking for as I carry the majority of my gear when I am staying out over night. When I do day trips I never stop at the store or anything like that on my way home.

Shop around and ask lots of questions.

BHB


Exactly, all policies are different.
Some contain clauses that limit theft from vehicles to a small amount or only cover the loss if it was from a locked compartment, i.e. the trunk.
I've been in the Insurance Industry for over 40 years and my learned advice is to:
1. Deal with an Independant Insurance Broker - the direct writers only offer their own product, the Broker can offer a number of products.
2. Tell the Broker everything ( OK, not the grow op in the basement :mrgreen: ) about your guns, reloading, etc.
3. Read your policy and if not satisfied, return to #1 and start all over again.
4. Price is secondary. Coverage is your first and foremost concern. The price really doesn't make much difference if you have a claim and find out you weren't covered.
A number of people have suggested Intact. They are excellent both in coverage and claims service and it's great to deal with a Canadian Company. I have no business dealings with Intact and can choose from pretty well any Insurer I want and I have our house and cabin insured with Intact.

[Jagermeister]

I have BCAA and it covers sporting goods to a certain value, not enough to cover a total loss. Therefore I have a rider to cover sporting goods which covers them in any event.
Your regular coverage would be inadequate if say you were on a fly-in trip and the plane crashed and sunk or burned or maybe a jetboat trip and the boat flipped. If you have high end gear, it is best to carry a rider policy. The cost is determined by the value you place on the items you're insuring.

[BearStump]

Bearstump..Your buddy should have had a another policy...you can't mix personel use items with business use items under a personal homeowners policy...I'm surprised they paid the $5,000 but it might have been stuff he didn't use in his business.
yes he is iwell aware that he was under insured. he wont do that again.

[Jagermeister]

The rider that I spoke of earlier, covering sporting good cost me $10 per $1000 of value over and above the regular premium. My carrier is BCAA