How Gun Liability Insurance Can Return Money to Your Wallet

With stark disparity, those in the United States are four times more likely to die from inadvertent gun injuries than those in other high-earning countries. Research reveals that 23% of unintended gun casualties are reported as accidents.

4.6 million children, and counting, in the United States, dwell in homes with at least one registered, unsecured firearm. An astounding 75% of school shootings are performed by kids who retrieved the firearm from home. Accidental shootings by children produced appalling totals of 242 injuries and 154 deaths in 2021 alone. Commenting on these gut-wrenching statistics, a spokesperson from The Society for Public Health Education says, “Injuries are not accidents – they are not random incidents. Injuries have identified risk and protective factors making them preventable”.

Why Gun Storage is Important

Secure gun storage is the key to preventing innumerable unintentional firearm injuries and fatalities. Human safety is the greatest incentive of all to invest in gun security, but through gun liability insurance, doing so can present monetary advantages as well. 

Safe firearm storage is rewarded with lower insurance premiums. Investing in audited safes for the storage of firearms, the implementation of trigger locks, participation in a gun safety course, and the installation of a loaded chamber indicator are a few of the measures taken that lower rates and that are rewarded by insurers. By definition, gun liability insurance covers injuries resulting from inattention or accidental shootings. Self-defense cases where “reasonable force” is deemed necessary also receive a significant amount of coverage from claims.

Home insurance policies as well as rental insurance policies often provide some level of coverage for guns. The bulk of firearm liability insurance policies do not protect against premeditated shootings (including self-defense), whether this coverage is incorporated in a homeowner policy or renters policy or purchased as a stand-alone plan. Moreover, these insurance plans include protection from stolen firearms, which totaled a whopping $135 million (USD) for 2020. 

In Conclusion

There have been increasing legislation in which several cities are starting to require gun liability insurance for legal gun owners. Other cities are also now considering to make this a requirement as well. Whether you live in one of these cities or not, those who are contemplating investing in stand-alone gun liability policies should seek those that cover criminal and civil defense expenditures and harm, supplementary insurance plans can encompass self-defense, and the most encompassing plans available can cover firearm replacement, bail reimbursement, psychological care, and profits invested in court-related expenses.