minghis Posted March 30, 2012 Report Share Posted March 30, 2012 I've never mentioned about having guns with my household insurance policies, ever. Nor have I been asked. Do you, or have you? Quote Link to comment Share on other sites More sharing options...
David BASC Posted March 30, 2012 Report Share Posted March 30, 2012 I did and got them covered under my contents insurance for about £10 a year for my three shotguns, but none of my guns are worth much: MacNab Highlandwer 20 bore - £900 Lanber sporter 12 bore - £500 AYA Yeoman 12 bore - £150 Many insurers will want to know about specific items worth more than £xx , if you don't declare them, then you will probably find it hard ot claim for htem if they are lost or dammaged. David Quote Link to comment Share on other sites More sharing options...
steve_b_wales Posted March 30, 2012 Report Share Posted March 30, 2012 I always inform my insurance company that I have firearms. They are then included in my contents, and are classed as 'sporting goods'. As long as each individual firearm is not valued at more than £3000, they don't need details of them. There is no extra cost added either. Steve. Quote Link to comment Share on other sites More sharing options...
Beardo Posted March 30, 2012 Report Share Posted March 30, 2012 i recall my insurance having a £1500 cut off for declarable items, therefore if you strip the elements down (ie scope, mounts, sling, rifle, mod) they all fall below that so don't need to be declared. Quote Link to comment Share on other sites More sharing options...
rimfire4969 Posted March 30, 2012 Report Share Posted March 30, 2012 I always inform my insurance company that I have firearms. They are then included in my contents, and are classed as 'sporting goods'. As long as each individual firearm is not valued at more than £3000, they don't need details of them. There is no extra cost added either. Steve. Same as mine NFU. Quote Link to comment Share on other sites More sharing options...
JonathanL Posted March 30, 2012 Report Share Posted March 30, 2012 I've never mentioned about having guns with my household insurance policies, ever. Nor have I been asked. Do you, or have you? If any of them were over the single item maximum then you would need to, even if you didn't actually want them covered on the policy. There was a company a while back giving a discount on your home insurance if you are an FAC or SGC holder. They reckoned you were a lower loss risk if you were. J. Quote Link to comment Share on other sites More sharing options...
JonathanL Posted March 30, 2012 Report Share Posted March 30, 2012 I did and got them covered under my contents insurance for about £10 a year for my three shotguns, but none of my guns are worth much: MacNab Highlandwer 20 bore - £900 Lanber sporter 12 bore - £500 AYA Yeoman 12 bore - £150 Many insurers will want to know about specific items worth more than £xx , if you don't declare them, then you will probably find it hard ot claim for htem if they are lost or dammaged. David There are potentially more problems than that. If you don't declare something or your contents are worth more than the sum insured then the insurers may reduce the amount of your claim in the event of a loss. I forget how it works specifically but if you are covered for, say £75,000 but your contents are actually worth £100,000 then it's not a simple matter of only getting a £75K payout and taking a loss on the £25k you aren't insured for. You are actually 25% under insured so the £75k loss may be reduced by 25% on payout as the insurers are entitled to take the view that even though they aren't covering the full amount they are taking a risk on all of it. J. Quote Link to comment Share on other sites More sharing options...
454697819 Posted March 30, 2012 Report Share Posted March 30, 2012 There are potentially more problems than that. If you don't declare something or your contents are worth more than the sum insured then the insurers may reduce the amount of your claim in the event of a loss. I forget how it works specifically but if you are covered for, say £75,000 but your contents are actually worth £100,000 then it's not a simple matter of only getting a £75K payout and taking a loss on the £25k you aren't insured for. You are actually 25% under insured so the £75k loss may be reduced by 25% on payout as the insurers are entitled to take the view that even though they aren't covering the full amount they are taking a risk on all of it. J. good old NFU, I told them and I am covered for articles outside the house up to 600 each up to 2k with no increase in premium, yes this includes the shotguns and rifle, yay Quote Link to comment Share on other sites More sharing options...
Robin128 Posted March 31, 2012 Report Share Posted March 31, 2012 You are bound to advise your insurer of anything that may be material to their risk of insuring you...Contracts of insurance are under the utmost good faith...it's legal doctrine...Uberrima fides. At law, all parties to an insurance contract must deal in good faith, making a full declaration of all material facts in the insurance proposal. This contrasts with the legal doctrine caveat emptor (let the buyer beware). Uberrimae fidei is the motto of Lloyd's of London. Decisions, decisions. Quote Link to comment Share on other sites More sharing options...
Bloke Posted March 31, 2012 Report Share Posted March 31, 2012 Bradford and Bingley - no problem, they just asked if the firearms were stored as per police guidance and said if they were under £1500 per item it made no difference to the policy. Quote Link to comment Share on other sites More sharing options...
n11tht Posted March 31, 2012 Report Share Posted March 31, 2012 You are bound to advise your insurer of anything that may be material to their risk of insuring you...Contracts of insurance are under the utmost good faith...it's legal doctrine...Uberrima fides. At law, all parties to an insurance contract must deal in good faith, making a full declaration of all material facts in the insurance proposal. This contrasts with the legal doctrine caveat emptor (let the buyer beware). Uberrimae fidei is the motto of Lloyd's of London. Decisions, decisions. Since when? I sell home insurance and customers do not have to mention they have guns unless they are worth over £2000 which is the same for any sporting item. Quote Link to comment Share on other sites More sharing options...
JonathanL Posted March 31, 2012 Report Share Posted March 31, 2012 You are bound to advise your insurer of anything that may be material to their risk of insuring you. Exactly! Which means you cannot get away with insuring your contents for lots more than they are worth. If you tell your insurers that your contents are worth 10K when they are really worth 100K then you will not be insured for any of it - most likely. Your insurer will take the view that although you only want a pay-out of 10K, because you actually have posessions worth 100K it makes you a greater risk. Which is quite reasonable. J. Quote Link to comment Share on other sites More sharing options...
JonathanL Posted March 31, 2012 Report Share Posted March 31, 2012 Since when? I sell home insurance and customers do not have to mention they have guns unless they are worth over £2000 which is the same for any sporting item. It's not about firearms. As the poster said, it's about ANY circumstance which may affect the insurers decision to whether to offer insurance or what premium they may charge for it. J. Quote Link to comment Share on other sites More sharing options...
minghis Posted April 2, 2012 Author Report Share Posted April 2, 2012 Well since posting this topic I mentioned I had guns whilst renewing my existing home insurance. They just got back to me with the revised figure (they had to refer it to the underwriters as I had guns) - £100 more per year please. No thank you I replied. Called another insurer - gave full detail including the guns and got a better level of cover for a saving of £150! Lesson learnt. Gun unfriendly broker was a big circus animal with a trunk. Gun friendly broker was the name of a group of people working together with a view to co operation who also do funerals. Quote Link to comment Share on other sites More sharing options...
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