I would like to hear from the Canadians on this board, how they have dealt with gun insurance. Do you have a blanket package on your homeowner insurance or a special rider to cover your guns and an appraisal of each? I would also like to know who you insure with and what experiences you have had?

Thanks,
David

Don't Canadians buy insurance? Is seems a lot easier to buy specific gun insurance in the US than in Canada. My local insurers seem quite unaware of how to handle such a request

I think guns are commonly included in home policies, Tamid. I haven't applied for a separate for individual guns. Cooperators may include in home policies; they don't do separate for guns. I'll check around to see which way the wind blows.

You don't need a weatherman to know which way the wind blows, King.

I fully expected you to say something like...you don't need insurance. If a robber comes for your Smith, give him your Parker too. And ginormous wild fires are just Mother Natures way of reclaiming what was stolen from Her.

I don't know who Cooperaters are but it sounds like they'd probably faint dead away from the fantods if they knew you had guns.


________________________
When you're lost in the rain in Juarez.... Bob Dylan

Give Eastern Insurance a call and ask for Jack Richardson, yes they are in the US but he maybe able to direct you to a Canadian insurance company. Home owner policies usually have limits on firearms. Eastern's number is800-545-9326

I inquired about riders for firearms some time ago and was told by my insurance agent that firearms are covered under your general contents blanket. Of course if you have a lot of possessions and a lot of guns, one better make sure the contents coverage is high enough. Where you may also run into problems, as far as value, is if the firearms are antiques. Those I think require special coverage if you want to hope to get full value.

Good suggestion by Eis on calling Eastern & Jack Richardson. A good bet that Jack can point you in the right direction.

Tamid, Cooperators covers my motor vehicles, another company for aircraft, and contents---furnishings, art, books, guns etc---comes under Economical house policy. If you lose anything report it, and it helps if you have recorded and photographed it. It worked that way when smoke covered my brother's oil paintings. The insurance company paid the preservator's bill, no questions asked.

Learned a new word...Geo

Gunsaholic really hit it on the head. If I had a few low end guns then it would carry on my general household insurance. With some high end guns into the 10's of thousands and being antiques then it is another issue. I need an appriser to value the collection and since most companies are not set up to deal with 'guns' I have had a few major companies decline to carry a rider. That is the gist of my problem so I'm trying to source a company that has had some background covering firearms.

I used to carry a separate policy on my guns. Paid a premium based on per 100$ coverage. You may need an appraisal and at the least good quality pictures. Try going through a broker and shop it around. It became such a hassle and cost I upgraded my security system and storage and dropped the insurance.

Years ago, when I looked at scheduled property insurance for guns and rare books the rates came back at 2 to 2.5% of value in Canada.
Underinsurance leads to proportionate lowball payout of claims, so the cost of recurrent appraisal is non trivial.
Issues surrounding appraisals and potential for disputes over valuation, if I did have a claim, led me to spend my money on security rather than further insurance also.
It would be more than frustrating to pay large sums over many years for insurance, only to have difficulty collecting when/if a claim arose.

More than anything, if buying insurance, is to know the company has a reputation for no-hassle compensation.

I don't know what the exact situation is in Canada but the insurance providers here all have a $1,000 deductible. This means if you lose 1 or 2 guns you're going to eat the loss.
Jim

We pay $126 per year for $40,000 of coverage - firearms valued at $10,000 or more must be scheduled, the rest are covered under the blanket coverage.

Last month my wife and I carried about $20,000 of shotguns to the Southern SxS - that's a heck of a lot more than my deductible. And no amount of enhanced security at home will protect your guns when you are away from home using them. My wife and I are users of firearms, not a collectors, so ours are often in cars and motel rooms. The one major exclusion in our coverage is an "unlocked" car, so you'll often see me check every door to be sure they're locked.

I would check with Eastern Insurance. Possibly they have coverage in Canada. Here in the US Im paying $3.24 per $1,000.00 with a $250.00 per incident for a deductible. The clqim department is absolutly hassle free and very proffesional. If you experience the loss or damage of even one gun $250.00 is an amount most of us can easily except. In the case of a fire or theft the loss of all or most of your guns is a high possibility. On a final note my policy only requires declaring any gun valued over $10,000.00.