Insurance

515034s10ring · Posted: Wed Mar 01, 2006 5:26 pm Post subject: Insurance

How many of you guys are "required" to take a yearly inventory of your hunting/fishing equipment? I just got a call from my insurance agent and was asked to take inventory (because he knows me Very Happy

) of new and sold items to update my list.
Shocking now but ya know, i actually remember doing an inventory (for insurance purposes on my hunting and fishing gear) about 10 years ago and back then my hunting related gear outweighed my fishing gear 10:1 for replacment cost/value. Now though, my fishing related items outweighs my hunting related items over 10:1 Shocked

. From what i understood, firearms have a depreciation value which is basic and standard, however with fishing equipment, it holds a higher value over a broadended amount of time Confused

.
Just so you guys know. Insurance companies ONLY give you Blue Book "GOOD OR FAIR" (mostly fair) rates in the event something happens. The ONLY way to insure you get what your firearm is "Actually" worth is by an annual appraisal by a third party, and giving a copy to your insurance adjuster. Make sure you have that appraisal with you at the time of your claim! If you don't take that little extra step, in laymens terms, you are SOL!

Seems pretty crazy huh?

1895ss · Posted: Wed Mar 01, 2006 5:32 pm Post subject: Re: Insurance

My insurance agent has never asked for an inventory of my hunting equipment. Maybe it's time he got one though....... Question

515034s10ring · Posted: Wed Mar 01, 2006 5:35 pm Post subject: Re: Insurance

Yeah, because when push comes to shove.......YOU are the one that has to prove the value and will be questioned if you don't have pictures and appraisals.

1895ss · Posted: Wed Mar 01, 2006 5:41 pm Post subject: Re: Insurance

Thanks 10ring, I think I'll start out with some pictures and serial #'s and go from there. Thanks for the heads up. Salute

Bushmaster · Posted: Wed Mar 01, 2006 6:56 pm Post subject: Re: Insurance

I was asked once for an inventory of my firearms and told that if I sold any or bought any to let them know so they could remove/add to my inventory. No serial numbers were exchanged unless I lost one. Never have and they have never asked for another inventory. They just send the bill once a year...Of course every thing I own, including my wife, is insured with them...

1895ss · Posted: Wed Mar 01, 2006 6:59 pm Post subject: Re: Insurance

I'm the same way Bushy, I have everything, from house to vehicles etc. insured through the same company.

515034s10ring · Posted: Wed Mar 01, 2006 7:22 pm Post subject: Re: Insurance

I'm also insured with the same as auto, but knowing, and having worked with a few adjusters, (firearms related) they actually "need" updated information......your items that you're claiming at the time may have a depreciated retail value. And without an appraisal......you really are SOL :(.....
Trust me....i know because i lost quite a bit (before knowing and getting into firearm replacment values) durring a car accident and homeowners only covering a few hundred of a few thousand dollar mangled Beretta rifle (before they went to Sako and when the actions were made by Dakota). Sad

Bushmaster · Posted: Wed Mar 01, 2006 7:28 pm Post subject: Re: Insurance

Oh darn...You caught me...I lied and boosted the value of my firearms so I wouldn't get caught short if they were removed from my cold dead hands...

515034s10ring · Posted: Wed Mar 01, 2006 7:35 pm Post subject: Re: Insurance

Damn Bushy.....We need "written" proof of the values here Sad

Bushmaster · Posted: Wed Mar 01, 2006 7:40 pm Post subject: Re: Insurance

What???!!! You work for an insurance company???...Guess who isn't going to tell you what insurance company he's with??? Very Happy

515034s10ring · Posted: Wed Mar 01, 2006 8:41 pm Post subject: Re: Insurance

Work for....No....never got paid.....well, i did get kickbacks Very Happy

Worked in collaboration with...Yes

Big difference because i was just basically a contact person on firearm and related information so the insurance company wouldn't get screwed on (for instance) having to pay $1000 for what a claimer said a Bersa .380 was worth Wink

Bushmaster · Posted: Wed Mar 01, 2006 8:44 pm Post subject: Re: Insurance

Aah...An insurance spy...The worst kind...And what do you think a Colt SAA Second Generation in .357 magnum with 4 3/4" barrel in good condition is worth??? Ser # 41,XXX SA (1968 vintage)

515034s10ring · Posted: Wed Mar 01, 2006 8:49 pm Post subject: Re: Insurance

How does that constitute spying Confused

They called me, asked a few questions, and hang up....that's all, nothing exciting Cool

I'll give ya $5 bucks for it Very Happy

Bushmaster · Posted: Wed Mar 01, 2006 8:53 pm Post subject: Re: Insurance

Yup...I bet you would...Let me know when you find that sucker...

1895ss · Posted: Wed Mar 01, 2006 9:05 pm Post subject: Re: Insurance

I'll give ya $10.00 U.S. for it but you pay the shipping or deliver in person, your choice......... Haha