A few months ago our insurer advised us of a significant price increase on the firearm insurance offering that ADA (and a number of other organisations) provides as a service to our members. The increase would have been almost threefold and would have cost the Association around $60,000.00 a year extra – this was clearly not a viable or sustainable offer.
Our brokers have worked diligently over the past few months to source an alternative which could make it possible for us to continue to offer this great service.
Going forward, members will automatically be covered for $12,000.00 on any one claim with an excess of $50.00. Unfortunately members will no longer have the ability to “top up” the coverage as this is not being offered by any insurer. These conditions will apply to all organisations and clubs who offer this member service.
This is being provided to ADA on a basis that, whilst still being more expensive than our current offering, will still be affordable and sustainable.
These changes highlight the difficult operating environment we face with financial institutions, particularly when it includes our exposure to firearms.
Policy wording and particulars will be added to the members only section of the ADA website in the coming days.
Exclusions:
Cover is not Provided for:
1. Theft where equipment was not stored in an approved gun safe as required by State and Territory Authority, other than when the equipment is in use or away from the Insured’s premises.
2. Where the Insured or any person or entity to whom the equipment has been entrusted to fails to comply with any law relating to either storage, use or handling of the equipment.
3. Notwithstanding anything in the Policy Wording or schedule to the contrary it is agrees and declared that this policy does not cover any loss or damage to unaccompanied customers goods.
4. Commercial Transport – whether in the course of or awaiting transit, during loading or unloading, or being held in storage by a commercial carrier.
5. Failure to clean Equipment or failure to maintain Equipment in accordance with manufacturer’s instructions;
6. You not following the instructions of the manufacturer including but not limited to Damage caused by using reloaded ammunition.