The Parkland school shootings in February and the subsequent #NeverAgain movement—which, on May 18, were followed by the Santa Fe High School shooting in Texas—have changed the narrative of gun ownership and gun laws in the country.

As state gun laws change and business relationships with the National Rifle Association (NRA) are severed, gun owners are left with a lot of questions, especially about the type and amount of insurance they should and can carry.

It’s time to talk to your clients and explain their existing coverage related to gun ownership, as well as the options available to them if they want to expand that coverage.

Current Options

According to the Insurance Information Institute (III), no domestic insurance company offers standalone gun liability coverage. Most policyholders usually have some property and liability coverage for firearms under a standard homeowners policy, with additional liability coverage available through a personal umbrella. Some of that coverage will even cover losses form accidental shootings.

Note, however, that all of the above differs greatly from concealed carry insurance, which  involves a far more complicated process.

Four main self-defense insurance organizations offer comprehensive personal firearms liability insurance for armed citizens: the United States Concealed Carry Association, the Armed Citizens Legal Defense Network, U.S. Law Shield and NRA Carry Guard.

This type of insurance can cover acts of self-defense and typically includes personal protection plans with individual benefits administered by a national broker and underwritten by an insurer. Membership in the sponsoring organization is usually mandatory.

These policies generally offer protection against civil liability, the cost to defend against civil and criminal legal actions, and immediate access to attorney referrals. They also include supplementary payments as needed for bail, criminal defense legal retainer fees, lawful firearm replacement, compensation while in court, psychological support and cleanup costs for any covered claim resulting from the use of a legally possessed firearm, including an act of self-defense. Benefits, according to III, can range from $250,000 to $1.5 million in civil protection, and $50,000 to $250,000 in criminal defense.

But even this type of insurance is becoming more limited. Recently, the two primary brokers for insurance policies that cover NRA members—Chubb and Lockton Affinity—ended their coverage of those sued over shootings. In doing so, they dismantled their partnership with the NRA.

Agents need to be prepared for a continuing changing climate.

Mandatory Gun Insurance?

By the end of 2017, several states—including New York, Hawaii, Washington, North Carolina, New Hampshire and Massachusetts—introduced mandatory gun insurance legislation using reasoning similar to the 2015 measure introduced by Rep. Carolyn Maloney (D-New York).

Most of the bills include a steep proposed fine for having no insurance, with amounts varying from state to state.

Those in favor of mandatory insurance maintain that the goal is to protect both homeowners and society from the misuse of firearms, arguing that:

• It would result in a reduction in gun crimes, similar to how mandatory auto insurance has reduced automobile fatalities by 25% in the last decade
• It would provide coverage for a gun that is lost, stolen or used by a third party.
• It would protect innocent gun owners by covering legal fees.
• It would not impact an individual’s ability to purchase a gun, since the insurance company does not make that decision. 

Those who are against mandatory insurance requirements argue that:

• It is not comparable to auto insurance, since gun ownership is a constitutional right, not a privilege like driving. Additionally, you don’t need a license to own a car, just to drive it.
• Criminals won’t buy insurance—and even if they did, acts of crime would be excluded, anyway.
• The cost of premiums would discriminate against the poor.
• It would embolden people to shoot, making it “murder insurance.”

More than any other mass shooting in history, the Parkland shooting has stirred an unprecedented level of controversy and activism that shows no sign of leveling off anytime soon. And while nobody can predict how this critical national debate will play out, one thing is certain: Up to one-third of Americans may be in need of gun insurance, according to Pew Research. 

Jason Hargraves is the managing editor of insuranceQuotes.com, which publishes in-depth studies, data and analysis related to auto, home, health, life and business insurance. A veteran reporter, editor and content creator, Hargraves has covered business, personal finance and consumer trends at major daily newspapers and consumer-driven publications, including The Houston Chronicle, The Washington Times and Angie’s List.