Many who own firearms do so for the purpose of personal protection. Family and loved ones come first when it comes to a home intrusion or other situations that require self defense – and it typically only takes a split second to do what is best for those whom you care about.
Unfortunately, what many gun owners don’t realize is that even in the act of self protection, if an intruder or aggressor is injured – or worse – from the firing of your gun, it is probable that they could file a lawsuit that could potentially cost you hundreds of thousands of dollars or more. If this is the case, the question then becomes, how can you protect yourself from this devastating financial situation?
The answer: Self-defense insurance.
In our lawsuit-happy society, legal battles can pop up almost as quickly and unexpectedly as convenience store robberies – and they can be far more damaging financially to the defendants – even those who are simply trying to keep their family out of harm’s way during a crime.
Because of this, today, many gun owners have been flocking to a newer type of insurance protection known as self-defense coverage. This insurance may also be referred to as firearm owners insurance, gun owner insurance, or simply firearm coverage.
In any case, it is a type of liability coverage that offers benefits for legal defense expenses should a gun owner become involved in a “lawful” shooting. This is a shooting that is defined as one done in the act of self defense such as during a home invasion.
Self defense insurance can provide a policy holder with funds to pay for the cost of civil liability, as well as to pay the cost of the insured’s bond, and to pay for the cost of civil defense if it is needed. Policies are typically also quite flexible, allowing the insured to choose the attorney of his or her choice if and when litigation is necessary.
A number of years ago, the NRA (National Rifle Association) began endorsing a similar type of protection for gun and firearm owners that covered some or all of the costs for criminal and civil defense expenses, as well as coverage for bodily injury or property damage that was caused by the use of a firearm.
The association recognized that there was a large gap in the coverage that was offered in most homeowners insurance policies for acts of self defense, so it created the plan in order to help its members should the unthinkable occur.
Over the past few years, several insurance carriers have begun to also offer this type of coverage – giving gun and firearm owners a choice in the benefits they can obtain and the coverage limits on their policies.
Companies such as CarryDefense, for example, offers basic policies with aggregate limits of up to $100,000 for monthly premiums as low as $19.95. With such affordable premiums on self defense insurance plans, gun owners should really consider adding this coverage – especially for the added peace of mind that it can provide.
Michael Busby Jr.
Visit me on the web at www.busby-lee.com