Gun Value for stolen guns

[AlamoShooter]

I'm OK But a good friend with a nice house had a Burglary, he had -one-of his safes left open. and the bad guys got some of his older guns . Some guns as in I had built a "Gun Room" for him a few years back that had a room full of guns in it - as in they would have to pile in a truck bed to hold them all.

Any way the Bag guys got ran off when he came home unexpected

The problem is the safe at the end of the house the bad guys started in was left open and it had his older guns Like a pigeon grade IO and two older Pythons etc etc He needs help to prepare his insurance claim and He did not have the ### listed

Any suggestions on a service he could hire to help him, He is ready to pay for the help.

Edited January 16, 2009 by AlamoShooter

[JThompson]

Blue Book?

https://store.bluebookinc.com/Ecom/ProductD...ry=1&id=244

Edited January 16, 2009 by JThompson

[Steve J]

If he had them listed, itemized, with the insurance company with a stated value, then that's what he'll get. If he didn't, then the insurance company will only pay depreciated street value.

[dstroyed]

If he had them listed, itemized, with the insurance company with a stated value, then that's what he'll get. If he didn't, then the insurance company will only pay depreciated street value.

And they Insurance Co. will most likely have a cap amount for any one gun. Not sure if that is a TX thing or per insur co. I think my Ins Co. limits at $1000 per piece with a TOTAL Limited amount they will pay on multiple firearms and jewels.

If he had a Inland Marine policy he will have a stated value of each item. In that case he will probably have a check in his hands by the end of next week. Expensive insurance but great when you need it.

[XRe]

And they Insurance Co. will most likely have a cap amount for any one gun. Not sure if that is a TX thing or per insur co. I think my Ins Co. limits at $1000 per piece with a TOTAL Limited amount they will pay on multiple firearms and jewels.

If he had a Inland Marine policy he will have a stated value of each item. In that case he will probably have a check in his hands by the end of next week. Expensive insurance but great when you need it.

Ditto on both counts... Actually, the Inland Marine policy isn't that expensive, in the grand scheme of things... The safe is better insurance for keeping the gun, but you have to keep the sucker locked for it to be effective

[Steve J]

And they Insurance Co. will most likely have a cap amount for any one gun. Not sure if that is a TX thing or per insur co. I think my Ins Co. limits at $1000 per piece with a TOTAL Limited amount they will pay on multiple firearms and jewels.

If he had a Inland Marine policy he will have a stated value of each item. In that case he will probably have a check in his hands by the end of next week. Expensive insurance but great when you need it.

Ditto on both counts... Actually, the Inland Marine policy isn't that expensive, in the grand scheme of things... The safe is better insurance for keeping the gun, but you have to keep the sucker locked for it to be effective

And bolted to the floor.

[Merlin Orr]

Totally dependent on the specific policy. Most every policy is RC or Replacement Cost for contents regardless of age or condition. The policy needs to be reviewed by someone who actually know what they are looking at. Most policies have a low limit on specific types of items...including firearms. Many companies are willing to replace with "like kind and quality" if the item can no longer be obtained new. If your friend can find replacements he can/could/should request the Ins. Co. buy replacement pieces in similar condition.

[Front Man]

And they Insurance Co. will most likely have a cap amount for any one gun. Not sure if that is a TX thing or per insur co. I think my Ins Co. limits at $1000 per piece with a TOTAL Limited amount they will pay on multiple firearms and jewels.

If he had a Inland Marine policy he will have a stated value of each item. In that case he will probably have a check in his hands by the end of next week. Expensive insurance but great when you need it.

Ditto on both counts... Actually, the Inland Marine policy isn't that expensive, in the grand scheme of things... The safe is better insurance for keeping the gun, but you have to keep the sucker locked for it to be effective

And bolted to the floor.

Well, now I know what I have to do this weekend!

HOS

[Front Man]

And they Insurance Co. will most likely have a cap amount for any one gun. Not sure if that is a TX thing or per insur co. I think my Ins Co. limits at $1000 per piece with a TOTAL Limited amount they will pay on multiple firearms and jewels.

If he had a Inland Marine policy he will have a stated value of each item. In that case he will probably have a check in his hands by the end of next week. Expensive insurance but great when you need it.

Ditto on both counts... Actually, the Inland Marine policy isn't that expensive, in the grand scheme of things... The safe is better insurance for keeping the gun, but you have to keep the sucker locked for it to be effective

And bolted to the floor.

[davidwiz]

Current replacement value is the insurance company's usual standard. Blue Book is one resource. If the item is particularly rare, you might want to look at recent auction prices. Some insurance companies allow you to have an "agreed upon value" on a particular item, if it is particularly rare, or customized. But it really depends on the language in the policy.