Whenever gun control measures get defeated, Second Amendment restrictionists pursue alternative avenues to crimp the rights of gun owners. Democratic Rep. Carolyn Malone (NY) is leading a national campaign to require gun owners to obtain special liability insurance policies – or face a $10,000 fine.
Since the Supreme Court okayed Obamacare’s individual mandate requiring the purchase of health insurance, gun grabbers figure they can apply the same principle to guns. The real goal, of course, is to make gun ownership more expensive and thereby discourage more people from owning guns.
Obtaining a handgun, shotgun, or other type of firearm for self-defense is itself a form of disaster insurance. You hope you never have to use it. But in the event of a life-threatening situation to you or someone you love, a gun gives you the ability to prevent a catastrophic loss of life and/or property.
As for insuring guns themselves, your homeowner’s insurance policy will treat them like other forms of personal property. Guns are generally protected from theft and damage. If you have a large collection or an especially valuable firearm, though, you may need to get a rider for additional coverage.
Your homeowner’s umbrella liability coverage may also cover accidents (where no criminal negligence is involved) caused by firearms. You’ll need to read the fine print of your policy or consult your agent to be sure of your liability coverage in this area. It may be inadequate relative to your risk exposure. You can obtain additional liability coverage for a small additional premium.
For now at least, such decisions are still in your hands.