Do Home Insurance Policies Cover Firearms?

As firearms are considered personal property, they’re generally covered by standard home insurance, up to the limits of your property coverage. If you have a valuable collection of guns, this limit may not be enough. At Paragon Independent Insurance Agency, we encourage you to consider the following aspects when insuring firearms in your home:

Replacement Cost

Expensive firearms or gun collections can be costly to replace. If they’re stolen, damaged or lost, property limits on your home insurance may be insufficient to cover replacement costs. This leaves you responsible for paying the remainder of their value, after subtracting your deductible. By taking out an insurance rider on expensive firearms, you stand a better chance of recuperating their loss.

Liability Coverage

If a visitor suffers injuries due to a firearm accident on your Plano, TX property, your liability insurance will cover medical costs up to the limits of your policy. Many home policies have a liability limit of $100,000 for firearm injuries, which may fall short if injuries are severe or result in death.  

It’s also important to note that liability coverage only protects visitors from firearm accidents in your home; it won’t cover you or members of your household. If you or a member of your household gets hurt in a firearm accident on your property, you or your household member will be responsible for medical costs.

Intentional firearm shootings that cause injuries or death on your property are NOT covered under your liability coverage.

Supplemental Insurance

Supplemental gun insurance can protect you against firearm accidents where medical costs extend beyond the limits of your home insurance policy. You can obtain supplemental liability coverage for as much as $1,000,000 or more.

To learn more about firearm protection under home insurance policies, talk to one of our agents at Paragon Independent Insurance Agency, Plano, TX.