Insurance is an important part of life. Many people have homeowners, auto, life, and health insurance, but not many people know about the importance of gun liability insurance. Just like any other kind of insurance, there are many different providers of firearm insurance and many different policies. It is important to know all the facts so you can be sure to choose the right plan for you.
If you are someone who only has 1 or 2 guns for personal protection, your standard homeowners insurance policy may already include some coverage for firearms. This protection covers any guns that are stolen or lost, but does not cover intentional harm or costs associated with acts of self defense. Coverage for stolen weapons is especially important since in 2020 there were over $135 million worth of guns stolen!
If you have a larger or more expensive collection, you may want to look into additional coverage. Personal property protection policies extend the standard coverage limit for stolen weapons. This means even if a very expensive gun is lost, insurance will be able to cover it.
Another good option is umbrella liabilities which extends coverage for all liability under your homeowners insurance. While extended liability is a benefit, this policy does not cover any intentional acts including self defense.
There are many different policies that are available for gun liability insurance. Like any other insurance type, take time to compare rates and policies to determine which is the best for you. Learn more about the benefits of firearm insurance in the infographic below:
