Wednesday, May 25, 2011

Firearm Insurance

As Carl pointed out in his entry below, guns in the hands of law abiding citizens deters crime, or at least can save your life.

This morning the wife and I paid a visit to our new insurance agent. He requested the meeting and we wanted to see if our insurance needs are excessive or less than what we needed.

Motorcycle. Sold the Harley. Saved $300 a year. Check.

Auto. Just fine. In fact he informed us that for $8 per year extra we would be in effect buying a $20,000 life insurance policy if either of us died in a collision. Cool. That’s a no-brainer.

Boat. I am overinsured. But for what we pay it's a bargain since the replacement cost of the boat is equal to what we paid for it 20 years ago. Good to go.

Home. As we went through his itemized list we discovered our insured home value is more than double what we originally paid, should a fire or tornado wipe out our dwelling. Hard to believe since there is no way it would sell for that amount in today’s market.

Then he came to the part about the value of possessions. This would be luxury items such as jewelry, furs, expensive artwork, family heirlooms, artifacts and firearms.

He looked at me and told me I was insured for $2500 worth of firearms, was that correct? I answered maybe. He looked at me and said, “my last job was working for an agent in Lake County, IN and it honestly shocks me how many people here in Porter County request firearm insurance in excess of $10,000.”

I just looked at him and said, “everyone’s well armed in Porter County, why do you think violent crime out here is non-existent?”

He nodded.

1 comment:

James R. Rummel said...

Good post, Gerry!