Firearms Insurance is underwritten by Lloyd's of London UK through Precision Underwriting Pty Ltd.
This insurance covers the ADA's financial members (aged 18+) for $12,000.00 on any one claim with an excess of $50.00.
Unfortunately, members no longer have the ability to “top up” the coverage.
This cover is being provided to ADA on a basis that, whilst still being more expensive than our prior 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.
'Fine print' below:
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.