Worthwhile addition I hope I never need to use -- myArmoury.com

Aaron Schnatterly

As many of you are aware, my collection has grown... significantly. I'm not alone. A lot of you have sizeable and valuable collections as well. It's unthinkable, and would be unbearable, but how many of us have looked at what would happen if...?

I did.

I checked into what it would take to insure the collection. I found out some very interesting information. Homeowners or rental insurance won't do. Coverage is limited, and claims questionable.

The answer was collectable insurance. There are a number of brokers offering this - just be certain that your collection(s) will be covered. The few calls I made helped me sort through these issues. A couple only dealt with firearms or cars. In my case, I had to write 2 separate policies - one for edged weapons, the other for armour, antique books, and clothing. I was able to get both policies (paid in full for a year) for under $100 total.

As the thread title says, I hope I never need it, but it's well worth the cost. I figured that it might be something some of you may not have thought of or considered seriously...

Russ Ellis · Industry Professional

Oh now that's very interesting... Never thought to look into that and it sounds cheaper then an expensive safe...

Harlan Hastings · Industry Professional

Excellent advice and info Aaron! I have one or two pieces I should have insured myself. Razz

Aaron Schnatterly · Posted: Mon 01 Aug, 2005 1:32 pm Post subject:

Russ Ellis · Industry Professional

That's outstanding news Aaron! Thanks so much for posting your findings!

Joe Fults · Posted: Mon 01 Aug, 2005 2:10 pm Post subject:

I'm actually more worried about liabilty for cutting parties and such than I am about theft. Then again I only have two swords. Different scale altogether, although I have a polearm, dagger, and another sword that may arrive in the next 6-9 months.

Aaron Schnatterly · Posted: Mon 01 Aug, 2005 2:15 pm Post subject:

Steve Grisetti · Posted: Mon 01 Aug, 2005 4:24 pm Post subject:

Excellent point, Aaron. Just the other day, my wife was asking if my pointies are covered under our homeowners insurance. My tepid response was, "well,...umm...I think so??? Confused

" Time to place the call to my agent!

Aaron Schnatterly · Posted: Mon 01 Aug, 2005 4:39 pm Post subject:

Steve Fabert · Posted: Mon 01 Aug, 2005 5:22 pm Post subject:

As an attorney who reads and interprets insurance policies every day, I recommend that each of you who feels a desire to obtain insurance for your arms collection write your insurance agent to ask for a quote rather than just placing a phone call. Homeowners policies use a wide range of forms that differ greatly from company to company and state to state. Many insurance agents are not especially well trained in telling you reliably whether you will or will not have coverage for a specific described loss under a particular form. If you ever need to make a claim under your policy, having the agent's promise in writing that he will obtain coverage for the property described in your letter is your security blanket. That way the agent's errors and omissions coverage will pay your loss if he turns out to know too little about the coverage actually provided by the forms used in the policy he sells you.

Standard homeowners coverage will cover liability claims that arise on your premises from activities that are not business related. So having a friend injured while he is over to look at your swords is likely to be covered, as long as you are not trying to make any money.

Patrick Kelly · Posted: Mon 01 Aug, 2005 8:32 pm Post subject:

What company are you insure through Aaron? I had my collection covered under my homeowners insurance when I bought my house without a problem.

And forget about waivers for cutting parties. Waivers aren't worth the paper they're printed on.

Russ Ellis · Industry Professional

Joe Fults · Posted: Tue 02 Aug, 2005 10:38 am Post subject:

Thomas Jason · Posted: Tue 02 Aug, 2005 11:06 am Post subject:

I use Collector's Insurance Agency for my Nihonto and custom blades.

They have an extremely good reputation in the Nihonto circles.

Daniel Parry · Posted: Tue 02 Aug, 2005 11:32 am Post subject:

If you guys are worried about liability and insurance on your cutting sessions, it might be worth clubbing together your money and asking a US attorney for an overview opinion (but you have separate State laws too don't you ? - don't know if this complicates things). And clarify with your policy providers whether home 3rd party injury policies cover those sorts of events.

I know in the UK it would be a complex issue of tort law in negligence, occupier's liability, vitiating consent (waivers etc), (assuming of course no criminal action) and as the attorney below mentioned 'as long as you're not trying to make any money out of it': then you get into contract law and whether exemptions are allowed for personal injury regardless of waivers etc (aside from the question of whether your home policy covers commercial ventures)

If you want to feel safer, might be worth considering a jointly paid for overall opinion(probably wouldn't cover specifics of your own particular situation).?? And check with insurers. Maybe help you understand the position ?? Don't know.

A thought

Daniel

Thomas McDonald · myArmoury Alumni