Gun insurance bill in New York to require liability coverage

gun insurance new yorkThe new proposal from State Assemblyman Felix Ortiz suggests that owners will need to be covered.

Bill S2353 has just been introduced into the New York State Assembly by Assemblyman Felix Ortiz (D-Brooklyn), which would make it required for residents of the state to have to obtain liability gun insurance in order to be able to own a firearm.

The bill identifies not only the minimum coverage but also the consequences for failure to buy a policy.

This new gun insurance bill stated that owners will need to purchase and “continuously maintain” liability coverage that has a minimum of $1 million worth of protection. Failure to do so will cause them to experience “immediate revocation of such owner’s registration, license and any other privilege to own” a firearm.

Simply owning a firearm without gun insurance liability coverage will be considered breaking the law.

Should this bill pass, it will amend the current State Insurance Law in New York. It says that anyone who owns any form of firearm is required to obtain gun insurance liability coverage before the weapon is purchased. It must be active and maintained in an amount that is no smaller than $1 million and must be specific to coverage for the damages that could result from any willful or accidental acts that involve that gun.

The bill does take into account that there are individuals out there who already own the weapons. These people will be given 30 days after the law goes into effect, in order to find and purchase the required gun insurance.

Should the firearm ever be stolen or lost, it must be reported to the police immediately. Should a crime occur involving the use of that weapon, before the report has been made which informs the police of the loss or theft, then it is the gun’s owner who will be held liable.

The bill doesn’t explain exactly what will be done with the weapon should gun insurance coverage not be obtained. It states that the owner will lose his or her legal “privilege” for its ownership, but doesn’t say whether it will be confiscated or whether the owner will be required to surrender it.

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