Over the past several days I have been in touch with both Larry and Cole Cushman of Guns & Trophy Insurance. I have done so as their name surfaced as a possible source for firearms coverage. My contact with them was both for personal needs and to discuss some PGCA perks with them as well. The PGCA nor I have any vested or financial interest in Guns & Trophy Insurance nor do we have an axe to grind with Eastern or any other Carrier or Agency offering similar products. Given my experience in the insurance industry I deemed it upon myself to do a little research which I will share.
First let me state that both Larry and Cole were responsive, knowledgeable, and courteous folks. We have had a tremendous amount of discussion on a discount for PGCA members. The initial response was an emphatic YES. Next words out were, but I am not sure how we can make that happen. Not to get to detailed here but when it comes to insurance laws, IT capabilities, Carrier willingness, and a number of other things that come up this discount became complicated. They did come up with a solution in that each of their policies contains an Administration Fee (AF). They cannot eliminate or waive the AF but they can refund it to PGCA Members after they sign up. The AF varies based upon the amount of coverage purchased. From what I can see the net effect could be a savings of up to 13% for an insured who buys the smallest amount of coverage and about a 6% savings for the larger policies. The following will give you some idea where you may fit and it will also give you an idea of their rates:
Annual Premiums w/ $500 Deductible:
Up to $48,000: $150 ($20 admin fee refund)
$100,001: $283 ($35 fee refund)
$250,001: $550 ($45 fee refund)
$500,001: $875 ($50 admin fee refund)
They have also stated that they will honor the refund of the AF to anyone they presently have insured who is a PGCA Member and requested that you simply email them to let them know and please provide them with your PGCA Member #. For new folks who may sign up there is an area on the first page of the application to list your member #. Following is some additional information that will be of use when it comes to contacting Larry or Cole:
Gun & Trophy Info:
- Larry Cushman & Cole Cushman administer the program. They suggest members call them first to get a quick overview of the collection so that they can answer questions & discuss the best coverage option i.e., $250,001 in coverage costs less than $200,000 in coverage
o Larry Cushman 703-901-4899
larry@gunandtrophy.com
o Cole Cushman 571-352-7097
cole@gunandtrophy.com - Firearms that are worth over $10,000 each need to be scheduled (description, serial # and value to insure). Guns under $10,000 can be insured using a blanket/unscheduled limit where no information is needed other than a total limit of coverage. - Coverage can be purchased directly through gunandtrophy.com or by calling Larry or Cole
- Member #: The 1st page of the “application” lists the field “where did you hear about Gun & Trophy” this is where you list your member #
- There is no “admin fee” added in NY or NJ so these members will not receive a “refund” of the admin fee.
Lastly, I am going to attach a coverage comparison between the 2 Hanover contracts, one being Eastern and the other being the Guns & Trophy contract. I am not going to get into every single facet of these polices nor am I offering advice on which is best for you. I will however direct you to the first topic on the comparison which is Transit/Off Premises and pick one that works for you. Eastern does have a substantially lower limit however they may offer a buyback at a premium. You would need to inquire with Laura if this is a concern. This should be an area of concern for all. I hauled 9 guns to Ernie’s this month, how many do you have in transit and or off premises at times? I am glad that the Theft From Vehicles language has been softened from prior years as coverage is now afforded if stolen from an unlocked vehicle while at a shooting event or gun range, the language does not include gun show. Eastern has other beneficial language here as well that affords coverage here if a signed police report is provided. One other area would be the Valuation section. This is how the Carrier is going to calculate how your firearm value after a loss occurs. Sorry but I am not playing Agent on this one, read it closely and call your Agent or Carrier of choice to discuss your needs. Hopefully you will have found something within here that may be of use to you and save you a few hard-earned dollars while getting the coverage you need for those precious Parkers and lesser guns. Another perk of being a PGCA member.
06-17-2021, 03:28 PM
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