I was watching Safari Hunter Journal last night on "The Men's Channel†and saw a promo that SCI had for gun insurance. I've since learned that it is offered through a company called Sportsman’s Insurance Agency out of Ormond Beach, FL. They indicate that, unlike your home insurance, there is no deductible and that they give a discount to SCI members. I've checked out their web site and it appears that you can purchase it easily without appraisals, no waiting period, and at what may be a fair price. They calculate your premium as follows: Total of All Values X $0.0125.
I have previously considered adding some guns to my homeowners but it is taking a while to get it going, primarily because of a custom gun I have where they want an appraisal. Such issues don't seem to be a factor with this online purchase. I'd like to get some guns insured before I head to Africa on Monday.
Have any of you used them before or do you have any other thoughts about their service and costs?

I've had their insurance for several years now, and fortunately haven't had to file a claim. All premiums are based on the manufacturers suggested retail prices, not on what you paid for the items. I think their prices are excellent, and the fact that your weapons are covered for any loss is a big plus.

For my custom rifles, all they wanted was an itemized listing of the work done, who performed the work, and the finished price for the custom work.

I also have used them but have not filed a claim.

John

Same here. Use them, but never had to file a claim.

Anyone ever filed a claim with them?

I use them and have filed one claim. A pair of 10x40 Ziess stolen from a bag in Australia. They paid up promptly and along with the free ticket from Quantas it worked out very well.

I just got their insurance upon the recommendation of a friend who has had their coverage for several years and actually suffered a lost gun in transit to another country in South America. He advised that payment was swift and very good customer service.

Good luck

I used them last year and they are much cheaper than airline insurance.

I too, have never had a claim, but if their claim service is anything like their billing and refunds, they are great.

if you're just insuring guns for your trip they can be added to your homeowners insurance just by scheduling them. ours let us schedule them just for the month we're gone & its cheap then.

I carry their insurance, and I haven't filed a claim either. I will say they're great folks to deal with, and they'll insure custom rifles for full value. They understand what they're insuring, and they'll work hard to properly profile what you're insuring. They'll be keeping my business..........

AD

How do they deal with firearms such as "vintage" double rifles? They aren't listed by manufacturers or are custom.

I wonder if they would accept an SCI member from Australia. I went through this all with my insurer and when the quotation threatened to strip the shirt off my back dropped the idea.

NitroX
Is the gun you're talking about listed in Blue book? If so, they say, "We will use the value you provide on guns no longer being manufactured as long as the value does not exceed 95% of blue book value.."

Spring,

Before you purchase you should take a look at Collectibles Insurance Agency. There is more to insurance than just price of course but a quick comparison shows that for guns valued at $25K, Sportsman's Insurance Agency would charge $312.50/year ($25000 x .0125) and Collectibles Insurance Agency would charge $108 for coverage w/o and alarm or safe. Read all their details and information and call them if you have questions. I first heard of them from an article by Ross Seyfried in Rifle about 2 years ago. Great people to deal with.

Good luck,

Paul

Paul, I checked out their web site and they are indeed a lot cheaper. Does their coverage still handle everything if something is lost while traveling?

Paul,
As a follow-up on the suggestion you made about Collectibles Insurance Agency, I think I have figured out the plan that these two companies are using. First of all, Sportsman's Insurance Agency does indeed charge about twice as much as the company you suggested. What I've learned is that they make you purchase coverage equal to the full manufacturers suggested retail price, which is well above what most people would ever pay for the gun they're insuring. As result, the cost of your insurance is much higher than is necessary if you were going to go out and replace the gun yourself. They know this, and have arranged to be able to buy guns at a wholesale level, allowing them to overcharge you for the insurance coverage while replacing the gun to you with one bought at a significant discount. This arrangement is required of you even if the gun you are insuring is one that you bought used, possibly not in the best of condition, and acquired at a much lower price than full retail.
On the other hand, Collectibles Insurance allows you to purchase coverage at whatever dollar value that you would like. If you bought a gun at 50% less that full retail, then it seems that they will let you get coverage for only that amount. This allows them to sell you a policy at a much lower price and lets you match your coverage to your actual risk.
All things considered, which insurance structure seems fairer?

I believe you may be mistaken about Sportsman's Insurance Agency: it's my understanding that if an insured weapon is lost, stolen, destroyed, etc., they pay you for the loss-not issue you a replacement weapon.

I could be mistaken, but a fellow from that agency called me this afternoon (I think Hollis was his first name). He was a very nice guy and we discussed the policy. The way I understood what he said suggested that they will replace your lost item for you. He mentioned that they buy things at a discounted or wholesale price when they do so. Even if you buy it yourself, you are required to purchase insurance for well more that the current value of your gun, which seems unnecessary to me. One of my guns, for example, had a "full retail price" for about 125% more than what I recently paid for it. I would prefer to simply insure it for my cost, but he said with them I could not.

SIA only covers owners in the USA I have been told after an enquiry.

I won't even tell you how much local insurers here ask for premiums.

I worked for a while in the Lloyds of London insurance industry. Insurance has to be the biggest con and rip off on earth in a lot of cases.

I use SIA.

It costs more, but you get what you pay for. 100% coverage for all firearms and accessories, including scopes, binoculars, etc., plus an excellent claims history, do not come on the cheap.

FWIW - this is the only "traveler's-type" insurance policy I've found that covers cameras and optics in particular.

quote:

Originally posted by Spring:
On the other hand, Collectibles Insurance allows you to purchase coverage at whatever dollar value that you would like. If you bought a gun at 50% less that full retail, then it seems that they will let you get coverage for only that amount. This allows them to sell you a policy at a much lower price and lets you match your coverage to your actual risk.
All things considered, which insurance structure seems fairer?

This is fine if all you are intersted in is the cost of insurance! What I'm interested in is the REPLACEMENT cost, no matter what I paid for the rifle! I have two Cape Guns that I paid less than $200 each,30 yrs ago, but are worth over $3000 each today. I'll stick with SCI!