Guns and Insurance

I got an email challenge from Jim Estill. He wrote, "I use Smith and Wesson for my insurance. Doesn't work too well on hurricanes."

Okay, he was joking. But that made me think: what about guns and insurance?

If you have a gun, can you avoid insurance? The short answer, of course, is no. While a gun may make you feel safer, it doesn't protect you from a whole host of possible threats, and burglary is only one of them.

In fact, having a gun doesn't save you any money on insurance either! A much better bet is a home security system. (Personally, I'd much rather have a security system than a gun. It doesn't depend on me being able to stay calm or pull a trigger in a tense moment.)

Making the right home renovations to help prevent damage in the case of severe weather or geological event can also save you money on your insurance. And, depending on where you live, it can do a lot more to protect you than a gun could.

In addition, you may find that insuring the gun itself requires an additional rider on your existing homeowners insurance policy. This can be quite expensive. Your only way around this requirement (if you own a gun) is to find a homeowners policy that specifies replacement cost for all contents and for all risks, and doesn't have a gun exclusion. Unfortunately, this can be a tall order.

If you are a gun owner, membership in the NRA will help you to get insurance. This could be one way to ensure that you have the right insurance both for your firearm and for your home and liability coverage.

Why would insuring a home with a gun cause you a problem? The issue really is all about liability. Accidents with guns do happen, and in the event that a person is maimed or killed with your gun, your insurer could be looking at a hefty settlement. Since insurance is all about risk, the insurer is looking to reduce their risk by having you pay more.

If you are looking for homeowners insurance, check out our site sponsors. You might find a policy that will cover that gun.

Monique L. Attinger

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