Important fact about NRA firearms insurance. You must participate. - The Firearms Forum

Remington597 · 03-27-2004, 10:54 PM

Most of us are NRA members, yet we don't take advantage of this program. I'm a member and was not even aware of it until a buddy told me, so I called them and requested the information and got it in the mail today.

Here is how it works.

Say you have $5000 worth of firearms.

Here is how it works, You get free coverage for $1000 just for being a member, so

$5000-$1000=$4000 residual value.

Take $4000 x .0166(NRA firearms insurance risk factor)
= $66.40, You just insured $5000 worth of firearms for $66.40

whats the catch? Nothing !!!, except that individual firearms that cost more than $1500 each are more expensive to insure, Who cares???? Every single firearm that I have is worth less than $600 anyway!!!! Who here collects Krieghoffs or Lugers, Not me?? ,I work 50 hours a week , so its a great program. , it even insures your concealed carry gun on your body and also in your car and it would insure all your weapons., So do it? You never know, even if you have a safe or keep your guns padlocked, you never know, there could still be a loss.

Great program.
I will send my check in on Monday.

Remington597 · 03-27-2004, 11:12 PM

Oh, one more thing, for those of you who are paperwork challenged, you must obviously present a copy of the purchase order or FFL transfer to make a claim. Obviously , you can't come out of the blue and say that you lost your Springfield M1A at the range and you need $1200 to buy a replacement.
I am assuming in the event of a robbery and/or theft, that you would also need to present them with a copy of a police report.
These are all very reasonable expectations for any insurance underwriter., I should know, I am a mortgage underwriter for a major financial institution., so I am used to pushing paper, some folks may find that idea grotesque, try doing 12 loans a day with 100 pages each of business tax returns and bank statements, and then you will know the definition of pain.

Carl S · 03-28-2004, 07:57 AM

Quote:

Originally posted by Remington597
Oh, one more thing, for those of you who are paperwork challenged, you must obviously present a copy of the purchase order or FFL transfer to make a claim. Obviously , you can't come out of the blue and say that you lost your Springfield M1A at the range and you need $1200 to buy a replacement.
I am assuming in the event of a robbery and/or theft, that you would also need to present them with a copy of a police report.

I will look into this program; but I have a question. What if you don't have that paperwork? Much of my paperwork has disappeared over the years. I only have paperwork on recent purchases. About half of my guns were pruchased in private transactions. I do maintain a complete inventory list including make, model, serial number (some don't have serial numbers) and description.

03-28-2004, 09:12 AM

The major question is, collecting from said NRA insurance.

Remington597 · 03-28-2004, 01:48 PM

Those are very good questions, I would give them a ring on their toll free number . Its 1-877-672-3006.
As far as older firearms with no purchase orders, its an excellent question as far as the need for receipts, one would think that if you had an antique firearm, that it would be next to impossible to procur the original purchase order and in many cases, that document would be worth more than the firearm for individuals who collect said memorabilia and antique documents. Excellent questions indeed.
As far as how promptly and efficiently they pay claims, thats another good question, but with any theft/loss insurance, the goal is peace of mind and to never find out, but again, excellent questions. I am going to give them a call and probe further.

03-27-2004, 10:54 PM	#1
Remington597 Former Guest Join Date: Feb 2004 Posts: 3,201	Important fact about NRA firearms insurance. You must participate. Most of us are NRA members, yet we don't take advantage of this program. I'm a member and was not even aware of it until a buddy told me, so I called them and requested the information and got it in the mail today. Here is how it works. Say you have $5000 worth of firearms. Here is how it works, You get free coverage for $1000 just for being a member, so $5000-$1000=$4000 residual value. Take $4000 x .0166(NRA firearms insurance risk factor) = $66.40, You just insured $5000 worth of firearms for $66.40 whats the catch? Nothing !!!, except that individual firearms that cost more than $1500 each are more expensive to insure, Who cares???? Every single firearm that I have is worth less than $600 anyway!!!! Who here collects Krieghoffs or Lugers, Not me?? ,I work 50 hours a week , so its a great program. , it even insures your concealed carry gun on your body and also in your car and it would insure all your weapons., So do it? You never know, even if you have a safe or keep your guns padlocked, you never know, there could still be a loss. Great program. I will send my check in on Monday. -->

03-27-2004, 11:12 PM	#2
Remington597 Former Guest Join Date: Feb 2004 Posts: 3,201	Oh, one more thing, for those of you who are paperwork challenged, you must obviously present a copy of the purchase order or FFL transfer to make a claim. Obviously , you can't come out of the blue and say that you lost your Springfield M1A at the range and you need $1200 to buy a replacement. I am assuming in the event of a robbery and/or theft, that you would also need to present them with a copy of a police report. These are all very reasonable expectations for any insurance underwriter., I should know, I am a mortgage underwriter for a major financial institution., so I am used to pushing paper, some folks may find that idea grotesque, try doing 12 loans a day with 100 pages each of business tax returns and bank statements, and then you will know the definition of pain. Last edited by Remington597; 03-27-2004 at 11:13 PM..

03-28-2004, 09:12 AM	#4
10X Adnanced Senior Member Posts: n/a	The major question is, collecting from said NRA insurance.

03-28-2004, 01:48 PM	#5
Remington597 Former Guest Join Date: Feb 2004 Posts: 3,201	Those are very good questions, I would give them a ring on their toll free number . Its 1-877-672-3006. As far as older firearms with no purchase orders, its an excellent question as far as the need for receipts, one would think that if you had an antique firearm, that it would be next to impossible to procur the original purchase order and in many cases, that document would be worth more than the firearm for individuals who collect said memorabilia and antique documents. Excellent questions indeed. As far as how promptly and efficiently they pay claims, thats another good question, but with any theft/loss insurance, the goal is peace of mind and to never find out, but again, excellent questions. I am going to give them a call and probe further.