Gun Ownership and Your Homeowners Policy
If you own a gun, you need to consider whether you are covered in the event the gun is stolen or destroyed and protected against any potential liability should your firearm cause an injury.
Gun ownership is a big responsibility and having the proper insurance coverage is an important element in meeting that responsibility.¹
For most standard homeowners policies, guns are considered personal property and are covered as such. However, they may be subject to sub-limits that are lower than the overall property limit, primarily due to the fact that they are small, usually valuable and easily transportable.
You should check with your insurance agent to determine the extent of your coverage. If you need additional coverage, you can obtain it through a rider if your current provider offers it. If such a rider is not offered, you may want to ask about a separate policy for your firearm.
The liability risk that gun owners face is a complicated issue since it turns on the circumstances of any injury and the prevailing state laws and court decisions. Having said that, you may want to consider higher levels of liability coverage to protect yourself from this unique risk.
Speak with your agent to discuss how to raise the personal liability protection on your policy, including asking him or her if an umbrella policy may be an appropriate solution.
1.The information in this material is not intended as legal advice. Please consult legal or insurance professionals for specific information regarding your individual situation.