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Establishing the real value of guns & ammo

Sentimentality increases their perceived worth.

By Patricia Harman | Updated on December 08, 2014

Americans treasure their Second Amendment right “to keep and bear arms,” and according to GunPolicy.org, there are approximately 101.05 guns in the U.S. for every 100 people, the highest per capita in the world when it comes to owning firearms. For insurance adjusters this means the chances of encountering guns and ammunition as part of a claim are extremely high.

Enservio, a provider of software and valuation services across the entire spectrum of contents, announced that firearms and ammunition are frequently overvalued in insurance claims from more than 50% to 126% respectively. Of the $2 billion in claims the company processes each year, 10% contain guns, ammunition and firearm accessories, and there is a common misperception among policyholders that guns hold their value and are worth more than their purchase price. In reality, the opposite is true.

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