Proof of Firearm Ownership/Insurance Question

[Razorhunter]

I know most homeowners insurance companies are a little different as far as their policies go, but I would like to know what you guys generally keep as far as paperwork goes, when you purchase a firearm?
I'm specifically referring to purchases such as on Gunbroker/etc, where the seller is a private seller.
I mean, all the buyer can do is obtain a handwritten receipt from the seller, right?

I always keep the FFL transfer receipt, which shows the firearm and serial # info that was transferred to me (the buyer), but this document of course does not show the actual amount paid to the buyer for the firearm.
Do your insurance companies insure firearms which were purchased from private sellers, where all you may have is either the FFL transfer document, and maybe, at most, a handwritten receipt from the seller?
Is there anything else one can do to protect himself when it comes to insuring firearms, and keeping records of personal possessions? I mean, should I be typing up custom sales receipts, and having them officially notarized?
I don't think I've ever understood the whole "notarizing/notary public" thing when it comes to private documents for manners such as this? I mean, EVERY time I've EVER had to get something "notarized" by a public notary, I've walked inside the PakMail/Kinkos, or other shipping/package store, and I've stood there watching the Arabic guy who can barely speak English, whip out his little stamp, and notarize my document. Upon leaving, I've always walked out of the store wondering "what the hell was that for", and how could this ever help me legally? I mean, what's the point of having an Arabic guy in a shipping store whip out a stamp to notarize something???? Never seemed very "official" or "legally-inclined" to me. :confused::confused: :eek:
I am just trying to decide if there are any additional documents/papers I should make sure that I have on file, for weapons which I have purchased from private sellers. ?? I'm betting many guys have weapons they have purchased over the years, from out of state, which they never even bothered to obtain a handwritten receipt from the seller for. Could this ever be a big problem for them if the weapon was ever stolen, and insurance was needed to replace?
I think I spoke with State Farm a while back (who is my homeowners insurance policy holder), and IIRC, they told me that I automatically have like $2500 insurance on "personal possessions" within my home, but that was it.
I will of course be calling them again to discuss the issue, but again, IIRC, they told me that I didn't even have to have pictures of my weapons, after I had inquired about that specifically.
What do you guys generally keep on file (paperwork/etc), when you purchase a new OR used weapon from a private seller, either FTF, OR out of state???
Thanks.

[Ed L.]

If you don't have an original receipt, you will need pictures and an appraisal. Be sure to keep them off site because if your gunsafe melts/gets stolen, you won't have the proof.

If you are getting an appraisal, it is usually cheaper to get a bunch appraised at once.

I have supplimental insurance for firearms since my basic homeowners is way too low. I believe State Farm may issue this.

[A-Bear680]

.
USAA seems to be a good company for this kind of insurance.
:)

[chuckles]

I have a rider on my guns under my Allstate policy. Anything over the $2500 basic limit has to be covered under the rider. I had to provide them with an itemized list with descriptions, serial numbers, and declared value. I included all accessories such as mags, scopes and even spare parts. It isn't cheap but they will pay replacement cost in a loss. I keep all receipts in a safe deposit box and copies in one of my gunsafes. I still have original receipts for the first gun I bought in 1966. (gun is gone but i still have the receipt) I also have the very detailed inventory that includes all the same info. DVD copies to my sons and when I change anything I give them a updated copy. I have good safes, alarm and fire sprinklers but I still have the policy.

[browningboy84]

USAA is who insures my guns. I had to give them a detailed list of the guns, accessories, etc. Gun Owners of America has a software that is available to members that is very nice. I have pictures and files from their software in my safe deposit box of my guns, just in case. NRA also has insurance that you can get through them. $175/ year will cover $10k worth of guns. Look into it.

[The_War_Wagon]

Didn't being an NRA member provide 10k of firearms insurance, too? Maybe it was offered seperately, as a benefit you could purhase being an NRA member, but I hope I didn't dream that... :confused:

[Joe Mamma]

I think the documentation requirements are not very strict. I've heard someone from an insurance company even go as far as to say, "No one keeps all of the receipts."

Now that being said, I think the insurance company could be very difficult if you wanted to make a claim, even if you had good documentation. Honestly, if you keep a picture of each gun, a short description, and serial number, I think you'll be fine. I think they pay replacement value (the amount it would cost to replace the gun), not pay you your purchase price. So the replacement value could be higher or lower than what you paid.

Also, the insurance company will probably want a copy of the police report or the report number if things get stolen.

Joe Mamma

[rob_s]

I have a USAA policy for my guns.

what i do is keep a spreadsheet on each gun online, with a picture and a list of what's attached to it or what has been changed out. So if I had a colt 6920 with a FF rail system I'd have the base price for the gun, with an adder for the rail, and then a per-firearm total at the bottom and an overall total for the "collection". I use links to the manufacturer's website to document price, as the insured value should be for replacement not for actual cost and I don't want to be penalized for having gotten a good deal on something if I can't get that same good deal after the loss.

I've gotten a lot better about keeping my receipts too. I have a paper file for each gun that matches the online spreadsheet, and any new accessory that goes on a given gun gets put in that paper file.