Are you an avid hunter or gun collector? Did you know the homeowner’s policy limits coverage for firearms and related equipment?
As we approach the fall hunting season and start getting our hunting equipment out, it may be a good time to ask yourself “How much stuff do I really have?” The 2011 ISO homeowner’s policy limits coverage for the theft of firearms and related equipment to $2,500. If you have a gun or guns stolen, the home deductible would apply and then a limit up to $2,500.
What if I have more than $2,500 of firearms? A scheduled personal property endorsement allows you to add additional coverage for these items in the event they are stolen. By scheduling these items, you not only can choose more coverage in the event of a theft, but you can choose a lower deductible than the home policy carries or possibly no deductible at all.
What if I have a gun safe, and I’m not worried about my guns being stolen? The limitation is only for theft. If they are damaged or destroyed from a different covered cause of loss such as fire, the personal property limit applies (not the $2,500 limitation).
Be sure to review your coverage with your insurance agent to ensure that you have the proper protection.
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