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Originally Posted by tonyz
Some food for thought on the subject of firearms insurance at the link to the blog at the end of my post below.
Just off the top of my head I have a few of my own questions:
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Quote:
Originally Posted by tonyz
If firearms were to be covered by insurance -- would we be free to own whichever firearm that we want? That is, would there no longer be firearm, magazine or ammo restrictions? After all, we (firearms owners) would theoretically all be paying to insure against the risk of any misuse of all firearms in existence.
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From post # 305 "If it were me (and I really do think there are a lot of people out there like me) I will grant that only crazies
(I want to amend this part to "crazies and criminals") kill innocent people. So, I'm for
allowing any law-abiding US citizen over the age of 18 to own any and as many semi-automatic weapons as they want as long as 1) they undergo a background check to prove they are a law-abiding US citizen 18 years or older and 2) with the purchase of any
(I want to amend this part from semi-automtic to "all") weapon they are required to also purchase an effective gun lock, and 3) the gun-owner assumes complete financial liability for the damage they cause or that their gun causes in the hands of someone else.
No change to the number or types of weapons currently allowed.
I'll throw in no magazine restrictions, too.
Quote:
Originally Posted by tonyz
If we are required to insure our firearms against misuse - would we receive a credit for proper use in a lawful self-defense situation? What if a shot is not fired but the bad guy just runs away? How much credit? How about a tax deduction every year regardless of the legal use? Just tied to having mandated liability insurance.
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That is a valid concern, your proposal might be a little unwielding. How about a tax deduction every year tied to legal use?
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Originally Posted by tonyz
Since the underwriting of risk by a private firm is essentially a business decision, what are the variables that factor into cost? Is the perceived "lethality" of an EBR more expensive than a mint WWII era Garande? Should a fit octogenarian pay more than a twenty something unemployed OWS kid? What medical records would need be disclosed to underwriters? What about the uninsured motorist, I mean firearm owner? Fear not, I suspect that the actuaries already have the software "loaded."
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Fear not, for sure.
I would not push a government insurance program similar to Flood Insurance -- which is government sponsored because in flood situations the cost of the multiple damages is usually so great that independent insurer cannot cover the potential claims. We probably want to limit to the minimum degree .gov's involvement. In a competitive market underwriters and actuaries will accurately assess risk and assign premiums. The information needed for underwriting the policy would be subject to the "invisible hand" if one didn't like certain underwriting criteria they would go elsewhere and then make a decision based on factors like price. I imagine the more help a consumer provided to accurately assess the risk would be rewarded.
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Originally Posted by tonyz
Finally, would insurance have stopped Adam Lanza?
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Insurance alone? No. A lock? Probably. Would unlimited liability exposure been a factor in the first victim's decision to secure her weapons. The marketplace would say, "yes".