We all know that firearms can be extremely controversial and asthey pertain to insurance claims, they carry their own baggage.Whether we're talking about handguns, rifles, shotguns orcollectibles, these are highly specialized items that come withtheir own set of markings and engravings, state laws andregulations governing their use and storage, and the high riskassociated with their handling. For adjusters, determining relativevalue is further complicated by the sheer number of these firearms,their magazines and clips, and their assorted ammunition types.

Looking at 2013 census figures, the population of the U.S. is at316 million people. Nearly half are gun owners. GunPolicy.org pegsthe estimated total number of guns (licit and illicit) held bycivilians at between 270 to 310 million. With numbers like those,the chances of a field adjuster or claims inventory professionalfinding a gun while on the job are almost 100% certain. In fact,Enservio claims data shows that 10% of the $2 billion in claimsprocessed annually contain firearms and ammo.

Policyholders are very passionate about their guns, oftenconsidering them a member of the family. Many are handed down overgenerations. Because of these strong personal attachments,claimants are prone to overstate their relative values. There arealso unique challenges for this specialty category item that claimpros need to master if they are to process a fair reimbursement orreplacement.

Some of the value factors adjusters should look for includeinformation that is typically stamped in metal on the gun itself,such as the manufacturer, model number and caliber. It helps torecord as much information as possible about the gun to assist withvaluation-related research. Describe the materials (finish,grip/stock), the year the gun was made, the dealer where it waspurchased, and any part number listed.

For handguns, describe whether it is a revolver orsemi-automatic. For rifles, mark whether the action is bolt, lever,or semi automatic. Check the barrel or slide near the grips forinformation. Mark its finish. Is it blued, stainless, or coated?Measure the barrel length and describe the grip. Does the gripconsist of rubber, plastic, wood, pearl, bone or othermaterial?

There are also various ammunition types and cases, such asmagazines and clips, that adjusters should make note of such as ifthe ammo is small or large caliber, or shotgun shells. What is thegrain, material and caliber/gauge? What kind of projectile is it?Various kinds include ball, full metal jacket, and shot.

An Enservio webinaron October 15^th will provide an in-depthlook at valuing firearms. Learning the basics on how toinventory and evaluate the relative worth of a firearm will greatlyassist claims pros in their line of work. Knowing how to properlyhandle one may even save their lives.