Monday, January 2, 2012

About Firearm Insurance

By Andrea Percontino


Are there any differences between firearm insurance and firearm business insurance? Yes there is and it is based on the use that the weapons receive. You have to get firearm business insurance not only firearm insurance if your business deals with firearms.

Firearm insurance can protect the bearer from accidents and liability by damages produced with the gun. You need to purchase another kind of policy if the firearms are used as part of a business like in sporting firearm commerce or collector's exhibitions. Known as firearm business insurances are two different policies.

Learning Firearm Insurance

With firearm insurance, the owner and/or bearer of the weapon is protected from damages caused by its use or misuse. This is depending on the extension of the insurance contract. Actually, the average policy includes only those accidents caused by the use of the gun. Still, there are some insurance policies which may include other risks like damage to properties when using the weapon reasonably, etc.

An insurance policy will cover the illegal use of a firearm, those results in damages to people or possessions, under no circumstances. But the damages caused when using a firearm to defend one are usually covered by firearm insurance policies. This is because self defense is an exception that excludes the misdemeanor from most actions that would otherwise constitute a crime.

The Firearm Business Insurances

Again, you have read above that there are two different types of firearm business insurances. The actual firearm insurance is not the concern of both, as well as complementing it. Both insurances protect the holder, user or transporter of any damages caused to the weapon or by the weapon under its commercial use. There has to be more than one insurance policy created as firearms can be used commercially in different ways.

Firearm business insurance that protects the owner against damages when the weapons are not fired or used is the collector policies. The use of weapons would only be during exhibits and it needs also to protect the goods while they are in route to a show or exhibition against: fire, flood, theft, damage, explosion or other accidental damages that may render the firearm useless for the commercial purpose covered.

On the other hand, the insurance that protects weapons that are used for target shooting, competitive shooting, hunting or any other LEGAL use that implies firing the weapons is the sporting firearm business insurance. Both weapons and other possessions and people from the damages caused by the firearms are being protected.

See to it that, whatever case you may have, you get an appraisal of the firearm value before the insurance contract, especially when the weapon is an antique. You can better get it from a third party and not to resort only to the insurance company's appraisal specialists. This can be possible even if you are asked to provide a value of yourself for the insurance contract because price variations can occur and you should be protected of that too.




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