Feb. 7, 2007

I'm interested in learning the effect that guns have on homeowners insurance. Do you pay more for homeowners insurance when you own a gun? What if you own multiple firearms?

Phil, Connecticut

Dear Phil,

According to both the National Rifle Association and the Insurance Information Institute, guns are simply considered a part of personal property. They arenœt seen as an added risk, or considered in terms of rates. There also arenœt any special provisions for owners of multiple firearms, except for the standard limit, which is generally set at $2,500. If people have a gun collection worth more than that, they are encouraged to buy a floater on their homeowners policy.

In terms of liability, most homeowners policies cover the accidental use of a firearms.

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