As a homeowner who owns various firearms and a concealed carry license/permit, you may wonder what is or is not covered under your homeowner’s insurance policy. Reading through your policy or talking to your insurance agent is a quick and easy way to find out what is included, but takes time, some of us might not have. Rather than spend hours reading through pages of the fine print or spending time on hold waiting for your agent, we are here to provide you with some necessary information in regards to whether or not your homeowner’s insurance covers your concealed carry.
What a Standard Homeowner’s Policy Covers
Most insurance policies cover firearms in the event of an accidental loss. Accidental losses include theft, damage from a fire, and in some cases, unintentional discharges may be covered. What is not covered under any homeowner’s insurance policy are criminal and intentional acts. Intentional acts include property damage and injury to a person. In most cases, your primary policy does not cover you shooting an intruder even if you have a concealed carry.
As any firearm you own is considered personal property, the gun itself is treated the same as other valuables you won. Most policies include something called an “intentional injury exclusion,” which is where the policy doesn’t cover any liability claims if the harm or damage done was deliberate. With your standard homeowner’s policy, you are on your own if you harm or kill somebody who has illegally entered your home.
Some policies will cover gun-related deaths or injuries that occur on the homeowner’s property as long as it’s not a criminal act. Where it gets dicey is in determining what is or is not considered a criminal act, which varies drastically by state. An excellent example of a criminal act not covered by any liability insurance is an intoxicated homeowner accidentally discharging a loaded firearm and injuring somebody with it.
Investing in Firearm & Concealed Carry Coverage
When it comes to concealed carry, self-defense, or even defending one’s property with a firearm, things become a lot more complicated. The reason it becomes such a complex situation because the matter of intent often comes up, as well as if the actions of the homeowner were considered criminal. Whether or not these acts are covered under a liability portion of any homeowner’s insurance policy depends on the state and their definition of “reasonable force.” In these matters, everything from the homeowner’s state of mind to whether or not it is a criminal act is carefully reviewed by the insurance company in deciding whether it is a valid claim or not.
You want what is best for your home and family, and you want to keep them protected, but how do you do that if your concealed carry is not covered under your homeowner’s policy. The most straightforward answer is to purchase additional coverage. Adding a personal umbrella policy, such as a firearm and concealed weapon coverage, ensures you are covered.
Most standard homeowner’s policy cap the liability amounts at $100,000 with a $2,000 cap on the theft of a firearm. If you are a collector of weapons or own some antique pieces, this presents a problem, as the theft of these items can easily pass $2,000. If you are involved in an incident where somebody is injured or killed by your firearm at your home, attorney fees, medical bills, etc. can easily exceed $100,000 if you are found liable. Adding a personal umbrella insurance policy to your standard policy solves both of these problems as it provides additional financial protection. A firearm & concealed weapon insurance policy generally starts at $1 million limits for liability and costs an additional $150 to $300 each year. This added protection ensures your losses are covered in the event the damage exceeds your standard policy.
Will my Homeowner’s Insurance Rate Increase?
If you added on a firearm and concealed carry rider to your homeowner’s insurance policy, the company providing you with the policy is now aware that you own at least one gun. Many homeowners question if that will raise their yearly premiums on their standard homeowner’s insurance policy.
The short answer is most companies will not increase your yearly premiums. Many companies won’t even ask you if you own a firearm or not. Your annual premiums only increase when you purchase the additional rider to ensure better liability coverage. While most companies won’t raise premiums, some will because they feel owning a gun is a risk and increases the odds of a claim being filed. When looking at insurance policies, asks about gun ownership to see if it will impact your rates or even your insurability. This is why it’s essential to shop around for your homeowner’s insurance to ensure you obtain the best coverage for your needs.
Most standard homeowner insurance policies cover the theft of a firearm, plus accidental discharge. What they don’t cover is an intentional or criminal act, so if you are not always covered even with a concealed carry. To ensure you and your firearms are covered under your homeowner’s insurance policy purchase a firearm and concealed carry a rider for your current policy.
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