Private Client Services
Firearms
Firearm insurance is important to consider when thinking about a holistic insurance program.
All of our carriers offer gun insurance as a separate policy from the home policy, with companion policy credits when the two are packaged together.
A Common Misconception
Firearm insurance is of paramount importance to any successful client with a collection, considering the total value and significance of their firearm collections.
Start the Conversation →Understanding the unique risks associated with these possessions is crucial in providing comprehensive coverage. Most companies want to itemize this coverage and will want to know what safeguards are in place to make sure handguns and/or shotguns don’t end up in the wrong hands, which is good loss prevention.
Itemized coverage provides a detailed list of each individual firearm with its corresponding value, ensuring more precise protection. For high net worth clients with valuable and often unique firearms, itemized coverage is often the preferred choice, offering a more accurate reflection of the collection’s worth.
Many assume there is coverage under their homeowners policy under the contents limit. However, home insurance policies may have limitations on coverage for firearms, especially high-value or antique pieces. Every homeowners policy, no matter the carrier, has sub-limits.
Key Capabilities
What Carriers Look For
Items to consider:
Consider list loads from the CMS.
- An itemized schedule listing each firearm and its value.
- Safeguards in place so firearms cannot end up in the wrong hands.
- Secure storage — a safe, cabinet, or dedicated room.
- Antique and high-value pieces that exceed home policy sub-limits.
- Appraisals for collectible and historically significant firearms.
- Companion policy credits when packaged with your home policy.
Not sure what your current policy actually covers?
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