HOMEOWNERS' Patrick Wraight
INSURANCE AND FIREARMS
Once again, we find ourselves in the deeply political and emotional debate about guns, the second amendment, gun control, and safety. This is not the place for my feelings about gun control, so I'm not engaging in it. However, it is important to clear up some misconceptions about guns, insurance, and the place of the insurance industry. We may have to deal with some misinformation from a popular (and growing) insurance company. Rather than referring to guns, handguns, rifles, etc. I will use a term that seems a little less inflammatory. I will refer to firearms.
Question #1: Is the firearm covered for loss or damage? Let's start from a property standpoint because when you boil it down, firearms are personal property. When an individual owns a firearm and keeps it in their home with the rest of their property, the homeowners' policy applies. What's covered on the HO-3?
Director of Insurance Insurance Journal's Academy of Insurance
