Insuring your airsoft armory

[Styrak]

Originally Posted by wildcard

Some insurance company will not deal with replica arms they will require you get a seperate policy for it, i had to change mine to All state because of that (Guarantee company of North America) They will cover real fire arms but when it comes to Airsoft they balked especially when they ask for documentation of the items involved. At All State all they asked for is the value, documentation that it is legal items in my possesion and pictures.

Airsoft is just like any other toys or property. It shouldn't be valued any different. If your $$$ value in your policy is enough to cover them, it should be fine, no?

[wildcard]

Originally Posted by Styrak

Airsoft is just like any other toys or property. It shouldn't be valued any different. If your $$$ value in your policy is enough to cover them, it should be fine, no?

Not really my previous insurance company look at the legal issue and since it's still in the grey area they refuse to insure it under my house, the good thing about Allstate is that they will insure anything and everything just like a Chinese market at least they are willing to listen and understand the items and not simply listing it as military arms and refusing coverage

[Invasian]

When I purchased my home insurance for my apartment from TD WATERHOUSE, I was able to get a separate insurance policy to cover SPECIFICALLY all my airsoft, guns and related equipement. I simply told them I play a contact sport in the realm of paintball (to facilitate their understanding of what i was talking about) that involves 6mm bbs, protective equipement, vests and cases etc..etc...

I have a specific amount that I am covered for.....furthermore I paid extra to get said dollar amount back in the event of theft, flooding, building damage etc...like Brian said..replacement insurance..


EDIT: My policy is NOT under collections, it is considered personal property on top of my personal assets outside of airsoft...clothes, tv..etc...

[Invasian]

Precisely

Originally Posted by styrak

airsoft is just like any other toys or property. It shouldn't be valued any different. If your $$$ value in your policy is enough to cover them, it should be fine, no?

[DavidoftheDoell]

It's always a good idea to review your policy and not to assume you're covered for something. Insurance is something you don't want surprises with. I know of someone who's basement flooded in winter while he was away and his whole basement was a block of ice. It wasn't covered because he didn't have anyone checking on his house. You have to have your house checked every three days I think. The point is you need to know all the fine print so you don't get screwed over, over a small detail that will void your policy.

Depreciation is a part of life. Unfortunately for some it was sudden and drastic.

[Brian McIlmoyle]

Originally Posted by ccyg8774

Reading this thread and learning about insurance is interesting...
Except when I found that I don't have anything worth insuring for.

Not true at all, we have note even mentioned General Liability coverage.. which as a player .. is worth GOLD

if you are over 18, and live outside of your parents home in an apartment, BUY A TENANT's POLICY

[Cs]

Hey Guys

What you will want to do first check the type of homeowners policy you have.

So for example if you have a Broad or Comprehensive policy ( works the same for Tenant and Condo)

► Broad Form - All Risks building / Named Perils Contents
► Comprehensive Form - All Risks Building and Contents


Airsoft items such as guns,mags,vest,masks and bb's all falls under your personal property coverage know as " Coverage C - Personal Property"

This is a Standard wording MOST Insurance Companies use ( please read your own policy for clarification )

1. We insure the contents of your dwelling and other personal property you own, wear or use while on your premises which is usual to the ownership or maintenance of a dwelling.

Some companies will allow you to add items separately outside your standard personal property coverage.
These are known as "Scheduled Items"
Check with your Broker to see if your company will allow you add your Airsoft guns separately. You will pay a Premium (additional Cost ) on top of your current policy premium.
Most of the time its not really worth adding your guns on separately due to the cost but it gives you an agreement with the insurance company that the Item is worth what is stated on your policy. Just remember the Insurance company can probably replace your stuff for 1/3rd the cost of what you paid for it.

When it comes to an insured Loss there are 2 types of Payouts

Replacement cost means the cost, on the date of the loss or damage, of the lower of:
1. repairing the property with materials of similar kind and quality; or
2. new articles of similar kind, quality and usefulness;
without any deduction for depreciation.

9 out of 10 times when it comes to personal property claims it is paid out as :
Actual Cash Value
The Actual Cash Value will take into account such things as the cost of replacement less any depreciation, and in determining depreciation we will consider the condition immediately before the damage, the resale value and the normal life expectancy.

Remember to always check with a licensed Insurance Broker from your province as coverage can very from company to company and province to province.

Also as Brian said, Liability insurance provided under your homeowners/tenants/condo policy is worth having.

[ccyg8774]

Originally Posted by Brian McIlmoyle

Not true at all, we have note even mentioned General Liability coverage.. which as a player .. is worth GOLD

if you are over 18, and live outside of your parents home in an apartment, BUY A TENANT's POLICY

Time for me to do some reading...
Thanks, Brian!