Does a safe discount your homeowners insurance any?
- Thread starter Andrewh
- Start date
Double Naught Spy
New member
Maybe. It depends on your insurance company and whether or not the safe is of a variety that the insurance company thinks is good (some do have specific brands in mind). Keep in mind that certain modifications to your safe may not allow you to get discounts on the insurance. For example, fire ratings are considered invalid if you have drilled holes in your safe to bolt it to the floor or to have electrical wiring go in the safe for a dehumidifier or electrical light system. It just depends on the insurance company and your policy.
It does not matter where the safe comes from. My insurance guy likes the Sentry safes for paperwork because he says they work really well, but those are only for fire protection, not security. So, talk with your insurance agent. Find out what would or would not qualify and be sure to find out about modifications.
It does not matter where the safe comes from. My insurance guy likes the Sentry safes for paperwork because he says they work really well, but those are only for fire protection, not security. So, talk with your insurance agent. Find out what would or would not qualify and be sure to find out about modifications.
neal bloom
New member
I don't think it does. If you have quite a few firearms you might want to discuss with your insurance agent as your coverage might only be for a certain amount. You may have to purchase additional insurance. Best thing to do is discuss with your agent.
missmanytoes
New member
Not from Allstate, either. It really burns me up that I can get a discount for an alarm system but not for a safe. My personal opinion is get the safe. If you get a discount on your homeowners insurance that should be considered an extra benefit.
-sarah
-sarah
Guys, I think that the main point here is that the insurance company will only cover loss of your firearms up to a specified limit. This limit will be around 2 or 3 thousand dollars usually. If you get a rider to cover the cost of your collection you will have to list them with the insurance company and pay a premium based on the value placed on the items you wish to insure.
Bottom line is: If you have more value in your collection than your basic homeowner's policy will take care of you will either want to gamble with the insurance company against any possible loss or invest in a good safe to protect your collection.
If you have a rider on a collection of anything and the value is say 15,000 dollars and the premium to insure it is 4.00 per hundred per year you pay 600 bucks every year. I have no idea what the premium is on a firearms rider these days I got out of insuring my collection years ago. BTW, the 2 or 3 thousand coverage on your insurance policy is still there if you suffer a loss "Like the one firearm you have out hunting with or whatever."
I'm not an insurance agent or in the gun safe business, just an oppinionated old fart.
Bottom line is: If you have more value in your collection than your basic homeowner's policy will take care of you will either want to gamble with the insurance company against any possible loss or invest in a good safe to protect your collection.
If you have a rider on a collection of anything and the value is say 15,000 dollars and the premium to insure it is 4.00 per hundred per year you pay 600 bucks every year. I have no idea what the premium is on a firearms rider these days I got out of insuring my collection years ago. BTW, the 2 or 3 thousand coverage on your insurance policy is still there if you suffer a loss "Like the one firearm you have out hunting with or whatever."
I'm not an insurance agent or in the gun safe business, just an oppinionated old fart.
C
cyn
Guest
We had to get a special rider for all of our computer equipment (no firearms at my house at this time but at least three computers) and the extra cost was very minimal. I spend that much each week (sometimes each day) at fast food places.
I would just feel better with the safe though to protect your investment.
I would just feel better with the safe though to protect your investment.
C
cyn
Guest
ooppss, let me clarify. I spend as much in a week on fast food as I do a year on the extra insurance.
When I bought my first safe I was paying 733.36 per year to insure my firearms. I cannot eat that many big macs in a lifetime
I sucked it up and bought a Fort Knox Yeager that had a bit of growing room for what 3 years insurance premiums would have been and have never looked back. cyn, my computers are in my present safe with no extra expense. Shucks, I'm in my present safe as well.
Hank
I sucked it up and bought a Fort Knox Yeager that had a bit of growing room for what 3 years insurance premiums would have been and have never looked back. cyn, my computers are in my present safe with no extra expense. Shucks, I'm in my present safe as well. Hank
C
cyn
Guest
Only the difference for my computer rider is what I was talking about. Not the entire insurance bill. I think just for the computers is was only about $20.00 a year more than without the rider.
Overall I think my total bill is about $500.00 a year and that includes an alarms system. I didn't get it for protection from theft as much as from fire when I'm away. We have one furnace in the attic and one in the basement and it makes me nervous having one in the attic that I can't see.
Overall I think my total bill is about $500.00 a year and that includes an alarms system. I didn't get it for protection from theft as much as from fire when I'm away. We have one furnace in the attic and one in the basement and it makes me nervous having one in the attic that I can't see.
It may not discount your insurance, but it sure will discount your lawyer fees if anyone ever breaks in and steals one and then uses it in a crime.
Anyone these days without a safe is a fool.
If kids break in and use your "closet" gun to shoot another kid, you will probably even go to jail.
Anyone these days without a safe is a fool.
If kids break in and use your "closet" gun to shoot another kid, you will probably even go to jail.
cyn, I couldn't eat $20.00 worth of Big Macs in a lifetime! Yes, I am talking about the premium on the rider not the entire policy
My guess would be that $20 would purchase around a $5500 rider to your policy for "sporting goods". The problem is that if your $5500 collection includes the shotgun that your Gramps gave to you on your tenth birthday is stolen the insurance company will give you the $225 that it would be worth on the open market. If you are insuring the custom deer whopper that cost you $5500 to build using 3 years of your spare time you will find out that the insurance company will never get anywhere near what you spent on parts and services alone.
Plus what Lavan said.
The insurance companys don't give discount because they aren't exposing themselves to much loss. Now, If you have a rider on any type of item and put these items in a safe or vault the insurance company should give you a discount on the price of the rider if you should choose to keep it in force while said items are secure.
HTH
My guess would be that $20 would purchase around a $5500 rider to your policy for "sporting goods". The problem is that if your $5500 collection includes the shotgun that your Gramps gave to you on your tenth birthday is stolen the insurance company will give you the $225 that it would be worth on the open market. If you are insuring the custom deer whopper that cost you $5500 to build using 3 years of your spare time you will find out that the insurance company will never get anywhere near what you spent on parts and services alone.
Plus what Lavan said.
The insurance companys don't give discount because they aren't exposing themselves to much loss. Now, If you have a rider on any type of item and put these items in a safe or vault the insurance company should give you a discount on the price of the rider if you should choose to keep it in force while said items are secure.
HTH