My understanding of a homeowners policy is firearms a covered but only for a limited amount concerning theft. Usually $1,500. However for any other loss, fire for example it is consider the same as any other property you own. If you insuring as a rider, most riders say they will pay up to the limited amount you have that firearm scheduled value is. Notice "will pay up to." The other method of insuring under a rider is "stated amount." That means the company will pay that exact amount, no more or no less. Under that coverage you need to keep track of value, should it increase, you increase the coverage. Check with your agent. If you in a state like Florida or Texas, gun friendly, agents pretty much know it is common and remember, if they are an Independent Agent, they work for you, not the companies they use to place your business. Take this for what it is worth to you.
Also for the best coverage under a homeowners policy, purchase the replacement cost endorsement which will cover contents, personal belongings, and include the Special Form for contents rather than the Named Perial contents coverage that is automatic with a homeowners policy.
Last edited by JohnMOhio; 09-02-2017 at 11:33.
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