What are the benefits and coverage options of firearms liability insurance?

It may come as a surprise, but several cities now require gun liability insurance for legal gun owners. Could your city be next?

What is firearms liability insurance? This is a type of insurance that is available to cover damages associated with negligence and unintentional firing.

While this is certainly a protected right to legally own a firearm, it should be considered with great care and responsibility. There are many unintended consequences when it comes to owning a gun. According to one analysis, 23% of accidental firearm deaths are reported as accidents.

In addition, 37% of non-fatal firearm injuries are unintentional and 2% of firearm deaths are unintentional. Interestingly, gun liability insurance has an impact on securing guns. This is because insurance companies give lower premiums to gun owners who store their guns properly.

Is firearm liability insurance really compulsory?

The short answer is no, for now, in most cities. There are currently a few cities where firearms liability insurance is required, while still others are considering making it a requirement.

The city of San Jose, California already has that on the books. It has been reported that Los Angeles may soon make this a reality for a city near you as well.

Why is firearms liability insurance not included in your existing insurance?

Depending on the homeowner’s or renter’s insurance, there may be sufficient coverage for your particular situation. A typical homeowners or renters insurance policy might cover the actual dollar value of your legal firearms, but it won’t cover you in terms of the costs associated with damage.

Overall, it’s best to be prepared and know your options when it comes to firearms liability insurance. Learn more about the benefits of having firearms liability insurance and how it can better secure your personal situation in the in-depth visual dive above.

Briannot Wallace is the Founder and President of NowSourcing, an industry-leading content marketing agency that makes the world’s ideas simple, visual and influential. Brian has been a Google Small Business Advisor since 2016 and joined the SXSW Advisory Board since 2019. This article is printed here with permission.