Oldgringo wrote:WildBill wrote:alvins wrote:i think relying on insurnace to keep your investment safe isnt good enough with guns. i have some guns that arent made anymore and probably cant be replaced easily.
Read your insurance policy carefully. Unless it guarantees full replacement value you may not get as much as they are "worth." Insurance companies like to depreciate objects based on their age. So if you bought a $1000 gun in 2000 they may say that in 2010 it's only worth $100 because it's old. That's the way they will value furniture, clothing, applicances, etc.
Thanks.
I think that you're both correct. I had to declare the values and State Farm had to agree at the time if issuance. I'll check with my agent next week. However, he said pretty much what I said about safes and the protection that they offer. (he doesn't sell safes
)
I do not have any real collector's items. The nearest gun to a collector's item would be an old Model 12 Winchester Duck gun and I think that their value has peaked. The rest are more or less current production "
eargesplitten loudenboomers".
My safes are for protection against children and thieves. I don't think that most gun safes are worth much for protection against a house fire. In order to a good fire safety rating they would have much thicker walls, which would greatly reduce the amount of room you have to store guns and other valuables.
I bought my second safe for about $900 -
After I had $3,000 worth of jewelry, watches, video and photography equipment stolen in a burglary. I had just bought my wife a Sony video camera for Christmas for around $900. We were robbed in January - the insurance company paid around $600 for the video camera. They paid even less for my Nikon SLR and my wife's Pentax because "they were old". We also maxed out at the $500 limit for jewelry and watches that included some jewelry that my wife inherited from her mother. The burglars knew what they were doing - they took the good stuff and left the costume jewerly.
For everything that was stolen, we probably got a dollar per pound from insurance.
