Anyone have NJ Manufacturers homeowners ins for firearms?

[JonF 79]

What is their policy for firearm coverage? Do they only cover $xx dollars with the promary policy and stipulate a rider for additional coverage or is it all covered from the one policy? Do they require a full inventory be submitted for the firearms to be covered?

[Maksim 1,504]

Take pictures of all your guns and keep them safe. get higher personal property coverage.

 

As long as you have pictures/proof you owned them, they will cover.

[Guest]

Take pictures of all your guns and keep them safe. get higher personal property coverage.

 

As long as you have pictures/proof you owned them, they will cover.

 

 

NOT saying you are wrong as i dont know.. but i would double check.. i have different insurance but the way it works with my insurance is they insure up to a default value for things (like firearms) and then it goes up from there if you want additional coverage..

 

example:

my base coverage was like $2500 for firearms increasing that to double $5000 was like an extra $50 a year or something like that...

[Jon 264]

If no one posts up by the time I get home I will look up the exact dollar amount for the policy. I have NJM and they dictate an exact dollar amount that they will cover for firearms. I want to say it's only $2000, but I will verify when I get home. I don't currently have any add'l coverage as the only firearm that spends time at my house regularly is my 1911.

[Regulator72 80]

j0n is correct.. NJM is $2000 for loss by theft of firearms.

 

http://www.njm.com/Home/f-2_web/section_1.htm#Anchor-Coverag-18292

 

It looks like you can increase it;

 

HO-65 Coverage C Increased Special Limits of Liability

[Guest]

you can probably call them and up it if you like in the way i have done with mine... my AR alone is pretty close to 2 grand..

[rifleman 90]

You can get coverage for about 1% of the stated value. Surprisingly, they DO NOT ask any questions about the specific items.

[HODGIE 3]

j0n is correct.. NJM is $2000 for loss by theft of firearms.

 

http://www.njm.com/Home/f-2_web/section_1.htm#Anchor-Coverag-18292

 

It looks like you can increase it;

 

HO-65 Coverage C Increased Special Limits of Liability

[Guest]

What is their policy for firearm coverage? Do they only cover $xx dollars with the promary policy and stipulate a rider for additional coverage or is it all covered from the one policy? Do they require a full inventory be submitted for the firearms to be covered?

 

I have an insurance license and sell the stuff....Here is what you do.

 

Call NJMF (your insurance co) and tell them the value YOU approximate the guns to be worth. Keep receipts, 'papers' on the guns, etc... because if you have a claim, you will need to prove the value of the guns. Pics are good as well, but usually not required. The underwriters will then determine a price and charge you the extra premium.

 

What you are asking them to do is 'schedule' some items, i.e. the guns.

 

Now if you have to make a claim under the policy for damage or loss to a scheduled item, the insurance company will basically research the product to find the fair market value of the item, or the actual cash value for replacement.

Remember there is a disconnect between the amount that you determine the value to be, and the actual payout amount limits of the policy, or the face amount, the 'max payout' if you will. You can buy 80% or 100% replacement cost insurance. Usually your max payout for items like guns will be 50% of max payout of the policy... (your face value 150k, your personal contents will get you 75k in a total loss)

 

The insurance company does not care what types of guns you have, you just need to let them know the value of the guns.

 

I keep it simple when it comes to this stuff, if you dont mind paying extra premium you can basically just call and tell them what you want to do, the underwriter will research it in a computer model as they plug in info, and BOOM!!! out comes a price...

Also, I would advise you to READ THE WHOLE POLICY, as this is very important to know what you are entitled to for your hard earned premium payments...

You can resolve this in about a 15 minute phone call to NJMF.

[coldsolderjoint 84]

What about renters insurance? I called up geico and they gave me a quote with no details, I tried emailing back to ask for all the details and never got any response. Anyone know a good company for renter's insurance who will tell me all the details?

[Maksim 1,504]

What is their policy for firearm coverage? Do they only cover $xx dollars with the promary policy and stipulate a rider for additional coverage or is it all covered from the one policy? Do they require a full inventory be submitted for the firearms to be covered?

 

I have an insurance license and sell the stuff....Here is what you do.

 

Call NJMF (your insurance co) and tell them the value YOU approximate the guns to be worth. Keep receipts, 'papers' on the guns, etc... because if you have a claim, you will need to prove the value of the guns. Pics are good as well, but usually not required. The underwriters will then determine a price and charge you the extra premium.

 

What you are asking them to do is 'schedule' some items, i.e. the guns.

 

Now if you have to make a claim under the policy for damage or loss to a scheduled item, the insurance company will basically research the product to find the fair market value of the item, or the actual cash value for replacement.

Remember there is a disconnect between the amount that you determine the value to be, and the actual payout amount limits of the policy, or the face amount, the 'max payout' if you will. You can buy 80% or 100% replacement cost insurance. Usually your max payout for items like guns will be 50% of max payout of the policy... (your face value 150k, your personal contents will get you 75k in a total loss)

 

The insurance company does not care what types of guns you have, you just need to let them know the value of the guns.

 

I keep it simple when it comes to this stuff, if you dont mind paying extra premium you can basically just call and tell them what you want to do, the underwriter will research it in a computer model as they plug in info, and BOOM!!! out comes a price...

Also, I would advise you to READ THE WHOLE POLICY, as this is very important to know what you are entitled to for your hard earned premium payments...

You can resolve this in about a 15 minute phone call to NJMF.

 

 

the more precise answer to what I was talking about. I dont deal in property casualty. =P

[Jon 264]

What about renters insurance? I called up geico and they gave me a quote with no details, I tried emailing back to ask for all the details and never got any response. Anyone know a good company for renter's insurance who will tell me all the details?

 

My gf has Provident, and has been happy with them so far. Not sure on their stance regarding firearms though, as she doesn't own any, and if she did I would have them covered under my HO policy.

[Guest]

What about renters insurance? I called up geico and they gave me a quote with no details, I tried emailing back to ask for all the details and never got any response. Anyone know a good company for renter's insurance who will tell me all the details?

 

Geico sources out renters policies to an insurance company that really does not give a crap.

Go with state farm or somebody who actually writes the insurance, not brokers it out.

If you need something better, PM me and I will hook you up with my guy...

[tommy3rd 132]

If I'm not mistaken, you get insurance coverage for your guns when you join the NRA. I think the membership is $35/yr.

If that's true, that's not a bad price.

[Guest]

If I'm not mistaken, you get insurance coverage for your guns when you join the NRA. I think the membership is $35/yr.

If that's true, that's not a bad price.

 

 

This is true but its only 1k.

Check out http://www.locktonrisk.com/nrains/default.htm

[Blackfox 1]

What about renters insurance? I called up geico and they gave me a quote with no details, I tried emailing back to ask for all the details and never got any response. Anyone know a good company for renter's insurance who will tell me all the details?

 

Geico sources out renters policies to an insurance company that really does not give a crap.

Go with state farm or somebody who actually writes the insurance, not brokers it out.

If you need something better, PM me and I will hook you up with my guy...

 

I had prudential renter insurances for years, they did cover firearm, and I had to have proof, plus the police report. Once my car was broken in at the mall in Jersey City, the insurance paid for my laptop. It wasn