UPDATE – Homeowner’s Insurance, Umbrella Coverage… and a Gun Trust

Check your insurance coverage with your agent and review your policies… both homeowner’s and umbrella coverage.  The two insurance coverage issues discussed here are property damage and liability insurance.

Property damage, i.e. the replacement value of your firearms collection if lost in a robbery or fire, would likely be covered if owned in your name and possibly if owned by your gun trust.

  • There may be limits of coverage.
  • You may need to name your gun trust as an “additional insured”.
  • NOTE:  NRA has a gun owners insurance program and you may want to check it out.  Your insurance company may over a “rider” to your policy increase coverage at additional cost.

Liability coverage for personal injury due to a gun event is more complicated.

  • An assault or battery is an intentional act and would likely be excluded from conventional coverage.
  • A self-defense shooting is an intentional act and would likely be excluded from conventional coverage.
  • A negligent discharge causing injury might be covered.

IN ALL CASES YOU MUST READ AND UNDERSTAND YOUR POLICY.  DO NOT ASSUME.

Your homeowner’s insurance Probably not… a gun trust does not own your home. According to several insurance agents, a gun trust cannot be added as an additional insured on your policy. This means that the umbrella policy riding on top of your homeowner’s insurance will not cover you either.

What to do? We are looking into a number of solutions… stay tuned. The NRA has several liability insurance programs for members, so that is another benefit of membership. Look under Insurance Programs for Members and you can read up on types of coverage.

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