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James M you are not correct. My deductible is $250.00. My policy with Jack at Eastern ( Heritage Firearms Insurance) is less than $350 per year for $100,000 policy. Yes I had to use it once when I had a shotgun stolen. The claim was flat out hassle free. Quick and profesional. I agree with tighting up security, but the insurance covers damage if I fall, damage or theft that happens during shipping, as well as just about anything else you can think of.

So what makes this substantially better? The insurance company is generally off the hook for a substantial part of a single gun loss. This reminds me of the car commercials where they'll pay for 3/4 of the value of your car if it's a total loss.

You clearly have your mind made up on insurance as it applys to your situation.
This post was not about whether a person should have insurance. It Was about cost. If you have a few hundred dollars in guns, just like an old car it might not be worth it to get collision coverege.
Your example on the car insurance commercial is based on an insurance company not paying you what it is worth, not on a deducible.
For myself and others that might experience a substantial lose, insurance is a necessity.

I certainly don't want to lose one gun, but I am more concerned about catastrophic losses. I have a gun safe and alarm system, but so do gun stores that are sometimes wiped out in burglaries or fire. If I can get $40K in insurance for what Mike has quoted, I am all in. Gil

I had insurance for over 10 years with two company's CIA and another who name escapes me. Both were incredibly difficult to deal with in addition to financial considerations.

Jim, an old lawyer used to remind us that insurance companies are in the business of taking premiums and not paying claims. Or so it seems. Gil

GLS:
You get a big AMEN on that from me after a recent 2 month battle with my insurance company over paying for the broken water line damage in my house.
If some of you haven't had a claim recently you're in for a surprise. In the past claims were settled locally by a representative generally out of the office that issued your policy. This is NOT the case anymore as they generally have regional or national claims offices so be prepared to explain your claim over and over to IMO some of the densest people on this planet. We had a water leak that damaged carpeting tile the walls etc. I had to keep trying to explain to these idiots that the were no people hurt in this and that was just the start of it. Finally I said "Well my feet got cold from having to walk in the water"! You'd think you were done and then some other part of their claims organization would put you thru this all over again.
If anyone on this forum has ever had a major firearms loss claim(multiple guns) I think everyone would be interested in just how it turned out.
Jim

I had a 6" well with a 20 hp submersible pump that was damaged by lightning last summer. Burnt up the pump motor and some associated electrical panels. As Jim said, the local agency/agent has nothing to do with it, other than notifying the company of your claim. The adjuster rode out, I showed her the old pump/motor, burnt wiring, and damaged panel components. She took three pictures, and wrote me a check on the spot for the maximum amount of my coverage. But, I just haven't seen the problems with claims Jim mentions.

I will be looking into the policy Mike quoted as well.

SRH

Stan:
I have my insurance with State Farm and have done so for 40 + years. Who are you insured with?
They sent out 2 adjusters to look at the water damage and I certainly didn't receive payment on the spot - far from it. The wouldn't pay anything other than to the company that did the mitigation(dry out and clean up work) until the repairs were made and I had submitted invoices. I of course by that time had paid for the repairs out of my own pocket.
Jim

I would have to re-read my policy with Eastern to be sure but my recollection is that the significant exclusion is an "unlocked car". Yes, I take them into the motel room each night with us.

My policy is $126 year for $40K coverage with a $1K deductible - bluntly a $1K deductible per event is not a big deal for me financially especially when my wife and I went shooting this weekend with 4 guns that it would take about $18K to replace. $126 a year for $40K coverage is low enough that I won't spend any of my valuable time to find a lower priced product.