Guns and Property Insurance – It’s a New Day!

In Insurance law, Insurance News on February 24, 2014 at 1:32

A proposed plan in the legislature would prevent insurers from refusing to issue a policy to a gun owner who has legal ownership of his or her firearms.  Insurers sometimes use gun ownership as one of several factors to determine insurances rates.

It makes sense.  If you live on the coast where flooding could happen, rates are higher.  If you live in Texas or Florida or other hurricane state, rates are higher.  Why not have higher rates if there’s a decent possibility of weapons damage?

The new plan would eliminate that element in rate consideration.  If it passes, it will take effect July 1.

Here’s the House bill in its entirety.

  1. You are really on top of the leading issues. You last couple of articles are really good! I finally have a chance to talk about the underwriting cycle and am going to the ABA Insurance coverage Litigation conference in Tucson Arizona next week to do so. Right now I am trying to figure it our in simple terms.

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