2. Does homeowners insurance typically offer discounted rates for insureds who agree to use firearms properly and safely?
Firearm Floater in Homeowners Insurance
Owning firearms can be expensive, and like any other valuable item, you want to ensure they are properly protected. But did you know that in addition to storing your firearms safely in a secure place, you may also want to consider a firearm floater in your homeowners insurance policy?
What is a Firearm Floater?
A firearm floater is a type of insurance coverage you can add on to your homeowners policy to provide extra coverage for your firearm collection. This type of policy offers more comprehensive coverage than your basic homeowners insurance, as it will provide added protection for your valuable firearms.
What does the Policy Cover?
A firearm floater typically provides coverage for:
- Theft – Coverage for theft of your firearms from your home, your car, or while you’re traveling.
- Liability – Coverage for any legal costs and damages if you are responsible for causing injury or property damage with your firearms.
- Fire Damage – Coverage for damage caused by fire, smoke, vapors, soot, or explosion.
- Replacement Cost – Coverage for the cost of replacing your damaged or stolen firearms, without needing to prove the original value.
- Transport & Shipping – Coverage for the cost of shipping your firearms to the repair shop or to another safe location in the event of a natural disaster.
How Much Does a Firearm Floater Cost?
The cost of a firearm floater will vary depending on the value and type of firearms you own, as well as the limits of coverage you choose. Generally, the cost will be anywhere from a few hundred to thousands of dollars every year.
Is it Worth It?
Whether or not a firearm floater is worth it is up to you. If you have a collection of firearms that are worth a significant amount of money, having a floater could provide added protection in the event of theft, fire damage, or any other unexpected act of nature. On the other hand, if your firearms are not worth much, you might be able to forgo this additional coverage.
If you decide to purchase a firearm floater, be sure to compare rates from different companies and read the policy carefully so you know exactly what’s covered.