Insurance

Let's talk about something near and dear to everyone's heart - insurance.

We here at Goble's do a large number of appraisals but unfortunately somewhat fewer claims. You should check your coverage with regard to maximum value or quantity of firearms and related equipment. Are you covered outside your residence ie. while boating, flying, at the gun club etc?

Your firearms must be stored safely (in Canada it's very difficult to find a definition of safe storage). Alarm systems and vaults could reduce your insurance costs.

Current and proper professional evaluation of your firearms and equipment will be very important if you ever have to make a claim. Pictures and videos of these items are a really good idea. Document the pictures and videos with copies of the registrations and store them in a safe place.

Here's one possible scenario. Let's say for example, you have a Lee Enfield No.4 303 Br sniper rifle - all original with scope - approximate value $3000.00. You may also have a Lee Enfield No.4 303 Br cut down military sporter - approximate value $100.00. The insurance adjuster wants proof that both of the Lee Enfield No.4's are NOT sporters.

Also current evaluation and pictures bring you up to date on what your collection is worth. You may not be into firearms in a big way but have inherited a collection from your father or grandfather or great uncle Bill. Let's consider a few examples. The Browning Superposed 28ga that was bought in the late 60's for $400.00 is now worth $2500.00 used. The old Winchester Model 92 that has 3 factory special orders added to it is now worth over $2000.00 used. That Winchester Model 52 22LR Sporter that was in the family for years s now worth $2500.00. The Smith & Wesson K22 Masterpiece 22 revolver that was purchased in 1970 for $140.00 is now worth $500.00 and $900.00 to replace it. If you are not aware of what you have and what their values you could very easily sell them or give them away at prices considerably less than they are worth. Believe it or not their are lots of people out there who are waiting for these kinds of deals from uninformed gun owners.

Most insurance companies have replacement cost less your deductable. So if you have a Savage 340 222 Rem bolt action rifle with a 3-9x Bushnell Banner scope, the real value as a used gun is about $350.00. The replacement value is that of a Savage 11FC 223 bolt action at about $600.00. Bushnell Banner 3-9x scopes sell for about $100.00, rings and bases for about $40.00. Mounting and boresighting adds another $15.00 - $20.00 to the value. So replacement value for the above firearm is about $755.00 + taxes! Remember -

Proper insurance + proper documentation + proper evaluation = a whole lot LESS HASSLE

Safe shooting.