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Amends the Firearm Owners Identification Card Act. Provides that any person who owns a firearm in this State shall maintain a policy of liability insurance in the amount of at least $1,000,000 specifically covering any damages resulting from negligent or willful acts involving the use of such firearm while it is owned by such person. Provides that a person shall be deemed the owner of a firearm after the firearm is lost or stolen until such loss or theft is reported to the police department or
Originally posted by Wildbob77
What would it cost to have a million dollar policy on your guns?
Would you get a discount if you had a gun safe?
Would this just be a rider on your house insurance?
I'd like to see what it costs before I have issues with it.
Amends the Firearm Owners Identification Card Act. Requires a person who is not a federally licensed importer, manufacturer, or dealer and who desires to sell or transfer a firearm of a size that may be concealed upon the person to another person, who is not a federally licensed importer, manufacturer, or dealer, to do so only at the place of business of a federally licensed firearm dealer. Provides that the federally licensed firearm dealer shall conduct a background check on the prospective recipient of the firearm and follow all other applicable federal, State, and local laws as if he were the seller of the firearm. Provides that the purchaser or transferee may be required by the federally licensed firearm dealer to pay a fee not to exceed $10 per firearm, plus any applicable fees. Makes exceptions for (i) the transfer of a firearm between spouses, a parent and child, or a grandparent and grandchild, (ii) transfers by persons acting pursuant to operation of law or a court order, or (iii) transfers on the grounds of a gun show. Imposes conditions on any rulemaking authority.