Is it true some insurance companies decline, cancel, or non-renew home insurance policies based on an applicant’s ownership or use of guns? One major home insurance company in Florida currently does use gun ownership to determine eligibility for its property insurance policies. Which home insurance companies are better for firearm owners? This blog post will explain what gun owners need to know about how insurance companies use information about you and your guns, to determine your eligibility for their home insurance policies. Continue reading
Tag Archives: Guns
Is GEICO auto insurance anti-gun? How to choose a company not against your gun rights
Many GEICO auto & home insurance customers are canceling their GEICO policies over the latest Internet buzz about GEICO being against gun owners and the gun industry. This negative publicity arose when a cancellation letter was posted online, for an auto insurance customer being canceled by GEICO, because their vehicle is used in conjunction with a company that deals in the weapons industry. This letter has led some people to believe GEICO will cancel their personal auto insurance policies, if they transport guns or work in an occupation related to the weapons industry. Some people are upset, and switching to different car insurance companies, because they see the cancellation letter circulating on the Web, as proof GEICO is taking a side in the ongoing national gun debate, showing it is anti-gun, and does not support your second amendment right to own a gun. This cancellation letter may show GEICO is prejudicial against the weapons industry, but many people are misinterpreting the meaning of the cancellation letter, and how their GEICO auto insurance will be affected if they are a gun owner, transporting guns in their car, or work in the fire arms industry. This blog post will explain the real implications of the cancellation letter, and how to choose an insurance company not opposed to your second amendment rights. Continue reading
Firearms, Homeowners Insurance, & Self Defense
If you are sued for the injury you cause when you use your gun to defend yourself, your family, or your property, are you covered by your homeowners insurance? The answer to this question may depend on which insurance company you chose to insure your home.
If you are a gun owner, or someone willing to use reasonable force to protect themselves, it is important for you to shop your homeowners insurance with all the leading insurance companies, to find the insurance company with the broadest coverage in this situation.
Homeowners insurance policies exclude liability for intentional acts, even if the resulting injury was not intended.
For example, if you get in an argument with another shopper over a sales item, the other shopper moves to try to take the sales item out of your hand, you shove the other shopper away from you, and the other shopper falls and injures their head.
Although you did not intend the other shopper to fall and injure their head, you intentionally shoved them, so your homeowners insurance will no cover you if the other shopper sues you for their head injury.
Note this is different from an act where the contact with the other person is accidental.
For example, if you are playing golf, and accidentally hit another person on the golf course with your golf ball, your homeowners insurance policy covers you if you are sued for the injury, because the intentional act was hitting your golf ball in playing a game of golf.
However, you would not be covered by your homeowners insurance if you intentionally hit your golf ball at a person, whether you were aiming to hit the person or not.
The reason for the exclusion of intentional acts should be obvious. Insurance companies, and society in general, does not want to encourage anti-social behavior and physical violence by covering the cost of these lawsuits. Our society has enough problems with violence, without making it worse by insuring away the financial impact of civil lawsuits in these situations.
Wouldn’t you be more willing to punch your soon-to-be-ex spouse’s new significant other in the face, for ruining your relationship, if you knew your homeowners insurance would pick up the bill, for the cost of legal defense and settlement, if they sue you for hitting them? Hopefully not, but you may be surprised how many people would.
All homeowners insurance policies exclude liability for intentional acts, but some insurance companies have an exception for intentional acts using reasonable force in the defense of your home or person.
If you own a firearm, or have a family member who is a self-defense enthusiast, it is a must for you to find a homeowners insurance or renters insurance company with this exception, and a good complaint record.
Insurance companies pay claims, but they don’t pay any claims they don’t have to pay.
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If your use of force was excessive, no insurance company would cover the claim. But situations in the real world are not always clear cut, and you may have to sue your own insurance company to get a claim covered.
Insuring with an insurance company covering home & self defense, and having a good complaint record, reduces the chance you will have a problem with a claim. Go to my website to get the information you need.
Insurance agents for some insurance companies may be unaware of this issue, or tell you not to worry about it, because of the laws of your state and court cases ruling in favor of home defense as not being an intentional act.
Some states, like Texas, supposedly prohibit someone breaking into your home from suing you in civil court if you injure them (I’m not a lawyer, so verify this with a lawyer licensed in Texas).
You can’t depend on the law to keep you from being sued, since the situation may mean the law will not apply, and the law can be reinterpreted or found unconstitutional — maybe on the basis of your lawsuit!
No one loves a burglar, but what if an innocent party is injured? Maybe someone walking their dog by your home is hit by a stray shot while you are defending your home?
The huge cost of having to pay for your own legal defense, and any settlement, for something like a wrongful death lawsuit, is too expensive for you to take a chance, by not choosing the homeowners insurance company with the broadest coverage and fewest complaints. You are most likely to never need the coverage, but not having it, if you do need it, can bankrupt you.
You can use my website to find out complaint information about insurance companies, but where can you find insurance companies specifically covering home defense in their homeowners insurance policies?
First off, ask the insurance company insuring your home now about liability for the use of your gun. If they say you are covered, have them show you where it is written in the policy and provide you with a copy. You may want to have a lawyer review it.
If your homeowners insurance policy does not have a self/home defense exception to the intentional acts exclusion, shop for one that does. Independent agents, representing several insurance companies, are usually most knowledgeable about the difference in each insurance company’s homeowners insurance policy.
You don’t get a copy of the homeowners insurance policy until after you buy it, so get the advice of a few agents, and work with agents willing to prove to you in writing what their homeowners insurance covers. Don’t take any agent’s word alone on this issue, because what an agent told you will not be able to be proved, if your claim is denied.
Do you own firearms? How do you insure them? Tell me about it. Please leave a comment on my facebook page. Follow me on Twitter for important insurance consumer news and new blog entries at CarInsWatch.
Insuring Guns & Homeowners Insurance
Are insurance companies anti-gun? No, but people who own firearms need to know the common limitations in homeowners insurance policies for guns, and how to discuss getting the proper coverage with insurance companies, without getting their homeowners insurance canceled.
Some gun owners feel insurance companies are sending a political message, when they may refuse to offer homeowners insurance, or cancel coverage, for firearms owners keeping guns in their homes. Insurance companies are not really concerned with 2nd amendment rights, but they are concerned with paying out large claims regarding the use of guns, such as a wrongful death lawsuit, if someone is accidentally killed by the use of your gun.
The good news is insurance companies differ as to how concerned they are with their customers owning guns, and many insurance companies have no problem with responsible gun ownership, and do not ask you a lot of questions about your firearms. For most gun owners, getting homeowners insurance is no problem.
A greater concern for you should be if your homeowners insurance policy will protect you from lawsuits, if you have to use your gun to defend yourself, your family, or your home or property. Whether you have coverage in this situation depends on the insurance company you choose, and other factors, and I will discuss this matter in a separate blog post.
In the mean time, shop around for homeowners insurance where the policy says specifically you are insured for using reasonable force to protect yourself and your home. Have your insurance company show it to you in writing. Don’t get ripped off by buying a homeowners insurance policy without the coverage you need as a gun owner.
This blog post will tell you how the basic homeowners insurance policy limits coverage for the loss of your guns, how to insure your guns properly, and what to say to insurance companies to avoid problems, and cancellation of your coverage.
The usual limitation on a basic homeowners insurance policy is limiting coverage for your guns to a certain dollar amount if they are stolen.
For example, you may have a $1,000 limit for ALL your guns (not per item) if they are stolen.
If you have 3 guns, worth $5,000 to replace with the same kind and quality (make sure your homeowners insurance has the replacement cost option, like most customers have) and all of your guns were stolen, you would have a property loss of $5,000. Subtract your deductible from the property loss.
For this example, we will say you have a $500 deductible. $5,000 minus $500 leaves you with a claim for $4,500.
But since your policy has the $1,000 limit for guns in the event of theft, you get only $1,000 for all 3 guns. Whether one or all your guns were stolen, the most you could get for the claim is $1,000.
Now, if all your guns are damaged in a fire, you don’t have the limitation, since it applies only to theft, so you would get $4,500 ($5,000 cost to replace or repair the damaged guns, less your $500 deductible).
Why is there limited coverage for guns on your homeowners insurance? It is not because insurance companies hate gun owners. Guns, like certain other types of personal property (jewelry, watches, camera equipment, stamp & coin collections, etc.) are targeted by thieves, but not every homeowner has these types of property.
Every homeowner has the risk of their house burning down, but not every homeowner has the risk of theft of $50,000 of jewelry, and does not want to pay higher homeowners insurance rates to cover these types of claims. Customers usually have the option to adjust their insurance coverage to cover their high value items, if they need it.
Do you need to adjust your homeowners insurance coverage to properly cover your guns? Here is what you need to consider to make this decision:
1. How much would it cost to replace all your guns with the same kind and quality if they were stolen, and compare the cost to your deductible. Do you really need insurance on them?
It may cost $5,000 to replace your guns, but if you have a high deductible, like a $2,500 deductible, the most you could collect from a claim is $2,500 — without considering the dollar limit for guns on your policy.
You could pay more for a lower deductible, and more gun coverage, but if you have a claim, it could also increase your rates a lot.
Paying more for homeowners insurance to cover smaller claims, which will increase your rates even more if you file them, is rarely a good idea. Having 2 claims in 5 years can often get your homeowners insurance canceled, leaving you to purchase a high risk policy to insure your home, with limited coverage and very high rates.
Paying out of your own pocket to rebuild your stolen gun collection is no fun, but it may be a better option than losing your homeowners insurance.
If the cost to replace your guns, if needed, is bearable for you, you may decide you don’t need to have insurance for them.
I can’t speak for all homeowners insurance companies, but most companies limit coverage for guns only if they are stolen. The best option for you may be to better protect your guns by buying a gun safe.
2. If you think you need insurance coverage for your guns, contact your insurance company and find out about your homeowners insurance policy’s limitation for guns, and what you can do about it.
What is the limit for all guns? Is there a per item limit, too? Does the limit apply to anything other than theft?
The answers to these questions will depend on the details of your own homeowners insurance policy, so you need to ask your agent or insurance company. Ask about the cost to increase your guns coverage.
For example, you ask about increasing your $1,000 gun limit to $5,000. Even though you have $5,000 for all your guns, there may be a $1,000 per item limit. If you have one gun worth $4,000, the $1,000 per item limit makes this a poor option for you. Are accessories, like scopes, and ammo also included in the gun limit?
Some insurance agents & insurance company representatives make the mistake of subtracting the deductible from the coverage limitation.
For example, your agent may tell you with a $5,000 gun limit and a $1,000 deductible, the most you can collect for the theft of your guns is $4,000.
However, you can collect up to the full amount of the limit amount, as long as the property loss, less your deductible, is the limit amount or more. That is if you have $6,000 or more worth of guns stolen, and a $5,000 gun limit, and a $1,000 deductible, you can collect $5,000 for the claim.
Some insurance companies may not offer higher limits beyond $5,000 for your firearms. Some insurance companies may allow you to schedule your guns (list the items specifically, for a specific amount, based on an appraisal or bill of sale) for expensive guns or large gun collections.
3. When you contact your insurance company and ask about gun coverage, they may ask you questions about the guns you own and how they are kept. If the insurance company decides your situation poses a “substantial increase in hazard,” you can see your homeowners insurance canceled, and you will have difficulty getting replacement coverage.
Usually, this applies in less common situations, like if you have an assault rifle, or a shooting range on your property. Though, if you are an avid gun enthusiast, this may apply to you. I never had an issue with it in my work experience, but I have read complaints about some insurance companies refusing to insure people keeping loaded guns in their homes.
You never want to lie to an insurance company, but you don’t want to volunteer information they are not asking of you.
I suggest, if you need to find out information from your homeowners insurance company about guns, you ask about your insurance company’s policy towards guns on behalf of a “friend.”
Ask if the insurance company has any concerns regarding guns, and how they cover guns. This is even more important when you talk directly to the insurance company, and not your agent.
If you have an extensive gun collection, contact an independent insurance agent, representing several insurance companies, who does NOT insure your home. Ask about a separate insurance policy to insure your guns. These types of policies are called inland marine policies or personal property floaters. A separate policy for your guns can keep you from having problems with your homeowners insurance, and avoid higher rates or cancellation of your homeowners insurance due to claims.
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