According to the infrequently firearms-related claimsjournal.com, Enservio is “a provider of software and services across the entire value chain of contents claims processing.” Claims related to guns, ammo and gun gear account for 10 percent of the $2b claims the company processes each year. Enservio’s bean counters counted the ballistic beans; the statistical results don’t say much about gun owners’ honesty. In fact, Enservio reckons that firearms and ammunition are commonly overvalued in insurance claims by . . .
more than 50 percent to 126 percent respectively. Specifically . . .
– Handguns: Average policyholder claims $285; actual cash value is $186
– Rifles: Average policyholder claims $291; actual cash value is $186
– Rifle Ammunition: Average policyholder claims $104; actual cash value is $46
– Rifle Magazines: Average policyholder claims $36; actual cash value is $10
– Shotgun scopes: Average policyholder claims $62; actual cash value is $31
Enservio Senior Contents Consultant Chad Horlbogen, a man who claims 26 years of advanced firearms experience and tactical weaponry training (?), was kind enough to provide the journal with some non-criminal, non-greed-oriented excuses for customers’ claims inflation.
“Americans love their guns, but valuing them can be difficult. Being a specialty item, firearms have unique characteristics that claim pros need to know about in order to fairly reimburse or replace these items correctly.”
A common perception held by policyholders is that guns depreciate very little and are worth more than what they paid for them–in some cases, more than retail value. One reason for this thinking is due to the fact that they are constructed of solid, lasting materials.
“Many people believe that all guns appreciate in value. They are often passed down between generations, and considered a member of the family,” added Horlbogen.
State and federal restrictions placed on purchasing guns can also amplify their perceived values.
So it’s all an honest mistake, really. Or not.