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by Michael Harbron on Apr 19, 2019

We live in a world that seems to be getting more dangerous every day. When a threat is imminent, a call to the local authorities is not always possible. Even if you do reach them, they could be minutes away; so many homeowners are opting for their own protection by obtaining a firearm. While this could be a smart decision in the case of an intruder, for an insurance company it could throw up a number of red flags that every homeowner needs to think about.

Because every insurance company has its own guidelines for determining homeowner insurance rates, owning a gun would definitely be something that could constitute a risk factor when issuing a policy. However, this does not automatically mean that you will pay higher rates.

What’s Their Concern?

While there are some very real risk factors associated with owning a weapon of any kind, it is not always the weapon that is of the utmost concern to the insurer. In most cases, they will be focused more on whether or not the homeowner or any of those in his or her household that have access to the firearm have been properly trained and considered competent enough to know when and how to use it.

In fact, some believe that owning a firearm could prove to be very effective in some communities in reducing the amount of violence and threats that may have become a problem. Some insurance companies even offer discounts on their policies if they can show that they are responsible gun owners. An owner can demonstrate this by their use of gun locks, taking a firearms course, or applying other safety features that can prevent accidental shootings.

Other Factors

Other factors that may be taken into consideration could also include the type of firearm you have. Some homeowners have a single weapon for security purposes only, while others may own numerous weapons or expensive gun collections that are of very high value. No doubt, your insurance company will want to look at a variety of different factors surrounding your use and ownership of a firearm to determine the final value of your policy.

There are many things that an insurance company will want to look at carefully when it comes to issuing homeowner’s insurance to someone who owns a firearm. While most companies will not come right out and ask you if you own a firearm (they are not in the business of policing the public on whether or not they know how to use a gun properly), if you do own a firearm, it is definitely in your best interest to report that along with any other safety measures you are willing to exercise in an effort to protect your home. Doing so in the right way could get you some benefits when it comes to obtaining new homeowners insurance in Phoenix.

All homeowners want to protect their families and possessions. Having a weapon does not automatically mean you will take a hit on your policy. Your community, your knowledge of weapons and your skill in using them along with applying necessary safety features to prevent accidents can make all the difference in how much you will pay in premiums.


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