Any of you bother with firearm insurance?

Equipment and accessories for shooting. Safes, firearm storage, bipods, carry cases, slings etc.

Any of you bother with firearm insurance?

Post by Zappa » 26 Aug 2024, 7:54 pm

I haven't declared any of my firearms on my home contents insurance and tbh I'm not sure they'll cover it.
So as the collection grows, I'm thinking about adding firearms insurance from SSAA membership to my yearly policy. For $35 pa seems like a no brainer with up to $25,000 protection.

my concerns are dropping my rifles and damaging barrels, scopes. Or dropping a pistol at the range or worse still firing a squib. .
Zappa
Lance Corporal
Lance Corporal
 
Posts: 213
Australian Capital Territory

Re: Any of you bother with firearm insurance?

Post by mchughcb » 26 Aug 2024, 8:04 pm

No brainier for the price and cover. Home and contents additional items cost a fortune for high end guns and optics. Go the SSAA route.
User avatar
mchughcb
Officer Cadet
Officer Cadet
 
Posts: 1923
Victoria

Re: Any of you bother with firearm insurance?

Post by Billo » 26 Aug 2024, 8:05 pm

Yeap since buying a thermal last year the extra $35 is cheap insurance for a $5K bit of equipment
22lr, 17 WSM, 20 Hornady Hornet, 6mm ARC, 6.5 PRC, 270 Win, 7mm-08, 308 Win, 358 Win, 9.3x62, 44 Magnum, 500 S&W
User avatar
Billo
Sergeant
Sergeant
 
Posts: 611
New South Wales

Re: Any of you bother with firearm insurance?

Post by Wm.Traynor » 27 Aug 2024, 9:06 am

Now you've done it Zappa ;)
I am going to check our policy with Budget to see exactly what they say but not until a few things have been sorted :thumbsup:
Wm.Traynor
Sergeant Major
Sergeant Major
 
Posts: 1726
Queensland

Re: Any of you bother with firearm insurance?

Post by Zappa » 27 Aug 2024, 4:28 pm

Wm.Traynor wrote:Now you've done it Zappa ;)
I am going to check our policy with Budget to see exactly what they say...:


Sorry Wm. My home insurer AAMI has a $2500 limit on personal property. Which firearms are considered as such. Anything more than that, you need to declare as valuables and expect a hefty premium with that I would presssume. Plus hey only cover your firearms at home not outside!

SSAA insurance is a good deal and hope I never need the thing. :thumbsup:
Zappa
Lance Corporal
Lance Corporal
 
Posts: 213
Australian Capital Territory

Re: Any of you bother with firearm insurance?

Post by bigpete » 27 Aug 2024, 4:50 pm

I'll be joining the ADA soon pretty much for the insurance
bigpete
Colonel
Colonel
 
Posts: 3991
South Australia

Re: Any of you bother with firearm insurance?

Post by Blr243 » 27 Aug 2024, 4:51 pm

Just the ssaa
Blr243
Major General
Major General
 
Posts: 4691
Queensland

Re: Any of you bother with firearm insurance?

Post by mchughcb » 27 Aug 2024, 5:23 pm

Zappa wrote:
Wm.Traynor wrote:Now you've done it Zappa ;)
I am going to check our policy with Budget to see exactly what they say...:


Sorry Wm. My home insurer AAMI has a $2500 limit on personal property. Which firearms are considered as such. Anything more than that, you need to declare as valuables and expect a hefty premium with that I would presssume. Plus hey only cover your firearms at home not outside!

SSAA insurance is a good deal and hope I never need the thing. :thumbsup:



Correct. The policies are $2500 ish. SSAA is a great deal.
User avatar
mchughcb
Officer Cadet
Officer Cadet
 
Posts: 1923
Victoria

Re: Any of you bother with firearm insurance?

Post by No1Mk3 » 27 Aug 2024, 5:39 pm

Blr243 wrote:Just the ssaa


No mate, ADA, Field & Game and others also offer insurance as part of membership. Details vary somewhat, ADA is cheaper but coverage is less and doesn't allow handloaded ammo, SSAA is dearer but has higher coverage and less exclusions. Depends what you need and why you want to join with any particular group. I know several SSAA members who are also ADA or F&G for the hunting opportunities and camaraderie those memberships bring. For me, SSAA suits best.
No1Mk3
Second Lieutenant
Second Lieutenant
 
Posts: 2185
Victoria

Re: Any of you bother with firearm insurance?

Post by Wm.Traynor » 27 Aug 2024, 7:04 pm

My firearms are insured for replacement value in House and Contents, by Budget.
Wm.Traynor
Sergeant Major
Sergeant Major
 
Posts: 1726
Queensland

Re: Any of you bother with firearm insurance?

Post by GQshayne » 27 Aug 2024, 7:37 pm

I reckon SSAA is a good option so that is what I have.
GQshayne
Staff Sergeant
Staff Sergeant
 
Posts: 888
Queensland

Re: Any of you bother with firearm insurance?

Post by rc42 » 28 Aug 2024, 10:24 am

SSAA in QLD no longer provide 'insurance', they have changed to a 'discretionary mutual fund' which avoids all of the regulation and decision appeal process of real insurance and makes all payouts entirely at the option of SSAA QLD, no matter how valid the claim is.

Check your small print carefully!
rc42
Staff Sergeant
Staff Sergeant
 
Posts: 807
Queensland

Re: Any of you bother with firearm insurance?

Post by Bugman » 28 Aug 2024, 4:33 pm

rc42 wrote:SSAA in QLD no longer provide 'insurance', they have changed to a 'discretionary mutual fund' which avoids all of the regulation and decision appeal process of real insurance and makes all payouts entirely at the option of SSAA QLD, no matter how valid the claim is.

Check your small print carefully!

And quite possibly, SSAA in other states may follow suit. Insurance, in any form, is a necessary evil.
User avatar
Bugman
Warrant Officer C1
Warrant Officer C1
 
Posts: 1290
New South Wales

Re: Any of you bother with firearm insurance?

Post by Zappa » 28 Aug 2024, 6:22 pm

rc42 wrote:SSAA in QLD no longer provide 'insurance', they have changed to a 'discretionary mutual fund' which avoids all of the regulation and decision appeal process of real insurance and makes all payouts entirely at the option of SSAA QLD, no matter how valid the claim is.

Check your small print carefully!


According to the PDS, the underwriters which are a financial group are not subject to the rules of the Australia prudential regulators. They state "they are not a insurer".
Not sure what that means, but I can't see it diminishing your cover or their payout obligations\ liabilities.

SSAA Mutual's Protection is not insurance
The Agent informs a person applying for Protection that:
(i) SSAA Mutual is not authorised under the Insurance Act 1973 to conduct insurance
business in Australia;
(ii) SSAA Mutual and its products, the Protections:
(a) are not subject to the provisions of the Insurance Act 1973 or the
Insurance Contracts Act 1984, which establish a system of financial and
product regulation for general insurers; and
(b) are not regulated by the Australian Prudential Regulation Authority
(APRA);


So it's not only SSAA QLD -

I'm looking at the PDS here. https://www.ssaaib.com.au/wp-content/up ... Part-1.pdf

under Disputes, There's a complaint and dispute process to AFCA
https://en.wikipedia.org/wiki/Australia ... _Authority

Again, i dont know how that would fare if you had to escalate to a dispute compared to say a proper registered insurer.
Zappa
Lance Corporal
Lance Corporal
 
Posts: 213
Australian Capital Territory

Re: Any of you bother with firearm insurance?

Post by Peter988 » 29 Aug 2024, 9:23 am

I took it out when I put a 5k scope on the rifle.
Peter988
Lance Corporal
Lance Corporal
 
Posts: 215
Queensland


Back to top
 
Return to Shooting accessories and equipment