Insurance Companies aren't screwing you. Just think about it as the more money they pay for claims the higher your premiums. Its all about the numbers. Typically 80% of every dollar that comes in goes toward claims, overhead, and etc. 20% profit isn't much but with the huge numbers of people who don't file claims the system works. The reason the limit on firearms is so low is because they are frequently stolen. If you had no limits for theft of firearms, the increase in your premium would be a big hit. Also, most people don't need higher limits for guns since they may have only 1 or 2 firearms. And they don't want to pay for your guns through higher premiums on their policy. Are you starting to see how it works? Think of it like paying for Florida's hurricane risk. No way I want to pay more on my policy just so they can sunbath on the beach at my expense.
Also, the special limit you are referring to is likely for theft only. Read your policy carefully. But pay particular attention to the Special Limits of Liability Section. You'll see other special limits for cash, jewelry, silverware and guns. Some are for theft only. But some are for all perils. If your policy is like mine and your guns are damaged by fire, the limit is the limit of your contents coverage. I would suggest you speak to your agent and see if they have an endorsement that can increase the limit for theft. I have one on mine which increases the limit to $5,000. Still not enough but I have a big safe!
