Insurance Company Notification (FOX NEWS)

[steamnsteel]

Copied from Fox News:

Lawmaker proposes requiring gun owners to register with insurance companies



By Michael Bielawski
·Published February 03, 2016
· watchdog.org




A bill introduced last week at the Statehouse would require gun owners to report their weapons to home insurance companies.

The bill, H.709, is currently in the House Committee on Commerce and Economic Development, and it’s only in “short form.” This means it’s relatively simple and vague.

“This bill proposes to require an insurer that writes homeowner’s insurance policies to require a policyholder to disclose to the company whether the homeowner or member of his or her household possesses a gun that is stored on the insured property.”

State Rep. Thomas Stevens, D-Waterbury, one of the bill’s two sponsors, views the proposed legislation as a way to let the private sector regulate guns.

“I believe it can be a free market answer to an important gun safety issue — let the insurance companies and banks decide what risks they need to consider when making mortgages and home owners insurance. Insurance companies ask lots of questions to determine that already.”

Stevens’ bill is one of many gun control initiatives beginning to flood the Statehouse. Others include municipal gun laws proposed for Burlington, as well background check legislation, which failed last year.

[Oh Shoot]

Interesting that VT, being the first and for a long time the only open and concealed carry free state, has both the House and Senate dominated by Dems.

 

- OS

[Sidecarist]

And a socialist senator running for President... Vermont is strange. I have many friends from there and it is explainable.

 

As an aside how is it "free market" if it is mandated by the state? Insurance companies can already ask about your possessions when writing a homeowners policy, and frequently they will exclude expensive items that are not disclosed ahead of time. I think the free market is already working fine thank you!

[bersaguy]

All my home owners/renter agent ask me is what I place the value of in a complete loss and did not ask me to itemize anything in particular as worth x amount of dollars. Now I do have a renters policy and not a homeowners policy but I put an amount out there on what I think it would cost to replace a total loss. They accepted that with no exemptions or itemizing any particular items. I do keep a list of all my firearms with all information on them with them that are in my gun safe and the house guns also but my agent has never ask me about them. Been with them about 12 years now.................... :shrug:

[rmiddle]

All my home owners/renter agent ask me is what I place the value of in a complete loss and did not ask me to itemize anything in particular as worth x amount of dollars. Now I do have a renters policy and not a homeowners policy but I put an amount out there on what I think it would cost to replace a total loss. They accepted that with no exemptions or itemizing any particular items. I do keep a list of all my firearms with all information on them with them that are in my gun safe and the house guns also but my agent has never ask me about them. Been with them about 12 years now.................... :shrug:

 

Read your policy many have limits on certain class of items.  Many times if an item or group of items is about a certain value you have to list them on the policy or they might not pay you if they are destroyed in something like a fire or burglary.  

[Garufa]

All my home owners/renter agent ask me is what I place the value of in a complete loss and did not ask me to itemize anything in particular as worth x amount of dollars. Now I do have a renters policy and not a homeowners policy but I put an amount out there on what I think it would cost to replace a total loss. They accepted that with no exemptions or itemizing any particular items. I do keep a list of all my firearms with all information on them with them that are in my gun safe and the house guns also but my agent has never ask me about them. Been with them about 12 years now.................... :shrug:

 

Most policies have an absurdly low limit on firearms and firearms are usually explicitly addressed.

[Oh Shoot]

Yeah, Bersa keeps saying that, and I have encouraged him to read his policy several times.

 

I know State Farm, having had a renter's policy with them not long ago,  and that policy he has will pay $2500 on "valuable items", which includes things like jewelry, artwork, and firearms.  After a $500 deductible of course.

 

Regardless of what Bersa thinks his agent has said about the matter, the agent won't be writing the check. A total claim will follow a standard checklist of categories, clothes, furniture, appliances, whatever, and when you bring up guns, they'll include max $2500.

 

I've wondered how claims for stashed ammunition might be handled since it isn't mentioned superficially AFAIK.

 

- OS

Edited February 4, 2016 by Oh Shoot

[bersaguy]

Yeah, Bersa keeps saying that, and I have encouraged him to read his policy several times.

 

I know State Farm, having had a renter's policy with them not long ago,  and that policy he has will pay $2500 on "valuable items", which includes things like jewelry, artwork, and firearms.  After a $500 deductible of course.

 

- OS

I just went and read my policy and there is no exclusions on Valuables specified as a certain amount like stated above. It just reads a total loss value with a $500.00 deductible and my total loss sustained value is a lot more than it would cost me to replace everything in my house except me or Kasey. It also has personal Liability coverage, Damage to others property and Medical payments to others Coverage's. And this is the third time I have read it...................... :shrug: 

[Oh Shoot]

I just went and read my policy and there is no exclusions on Valuables specified as a certain amount like stated above. It just reads a total loss value with a $500.00 deductible and my total loss sustained value is a lot more than it would cost me to replace everything in my house except me or Kasey. It also has personal Liability coverage, Damage to others property and Medical payments to others Coverage's. And this is the third time I have read it...................... :shrug: 

 

I think you are reading some summary, and not the actual policy? How many pages is it? If it ain't 20 or more, it's not likely the actual policy.

 

- OS

Edited February 4, 2016 by Oh Shoot

[JayC]

The reason would be the wording of their state constitution...  Which the legislators can't muck with easily.

 

We'd have the same here if it wasn't for that purview to prevent crime part that was added during the occupation.

 

Interesting that VT, being the first and for a long time the only open and concealed carry free state, has both the House and Senate dominated by Dems.

 

- OS

 

[Pete123]

Bersaguy,

 

I'm almost sure that you don't have the coverage on your guns that you think you do.  I have State Farm Renter's ins.

 

It covers around $2000 after a $500 deductible.  You may have $100,000 worth of coverage, but guns, and some other items, are capped.

 

I purchased a State Farm personal articles policy to cover the guns.  

 

Your actual policy will show the exceptions.  I believe your insurance agent is incorrect if he is saying you are covered.

[btq96r]

USAA lists guns as a specific item to insure under their Valuable Personal Property, saying they'll cover "Legally-owned firearms, scopes, cases and accessories."  I don't have any of my guns, or my optics listed at the moment, but I should probably change that.  The only thing I actually have under the policy are watches, since aside from guns and my truck, I don't own anything that is too expensive for renters insurance to cover.

 

ETA: Just remembered this thread had an another purpose entirely. 

 

So, this legislator is obviously a bit out there.  But on the whole Vermont is very good for gun rights, and some of the land up there is just awesome.  So, I hope this idea never makes it past the ridicule stage.

Edited February 4, 2016 by btq96r

[K191145]

USAA lists guns as a specific item to insure under their Valuable Personal Property, saying they'll cover "Legally-owned firearms, scopes, cases and accessories."  I don't have any of my guns, or my optics listed at the moment, but I should probably change that.  The only thing I actually have under the policy are watches, since aside from guns and my truck, I don't own anything that is too expensive for renters insurance to cover.

 

ETA: Just remembered this thread had an another purpose entirely. 

 

So, this legislator is obviously a bit out there.  But on the whole Vermont is very good for gun rights, and some of the land up there is just awesome.  So, I hope this idea never makes it past the ridicule stage.

 

So if I read the bill right that the OP posted, it would be mandatory to list all firearms? Sounds like a back door registration. Well, it doesn't sound like it, it is a firearms registration.

I have a photo copy with serial numbers of my firearms on a disk in case they are stolen but no one else has that. I guess that Farm Bureau would just have to trust me being truthful about my guns if they were stolen, at least in a fire the metal would still exist to prove you had them. My personal agent in Kingston does know I own a MAK 90, that's because he has one also. :)

Anyway, there will NEVER be any list of any information about what, how many, serial numbers etc of any of my firearms given to any insurance company unless of course they are stolen, but not before that. 

 

P.S. If there's a fire I will tell the firemen there's boxes and cans of ammo in the house for obvious reasons.

Edited February 4, 2016 by K191145

[ehull20000]

I already have a seoarate rider for my guns, but making it mandatory and then calling it a free market solution is crap.

[Randall53]

My firearms are insured by Cannon. Fire, water and burglary. I don't need no stink'n insurance company.

[LI0NSFAN]

My insurance agent just asked the estimated replacement value for my entire collection and if I had any rare or any over 5k. I don't have any over 5k so I just told them the overall value and they added 50% value and that was it. I did not have to tell them anything about individual items. It is a rider on my home owners policy, it only covers $2,500 without the rider.


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[DaveTN]

I have never asked my State Farm agent about guns; didn’t want to go there. But years ago I ask him about computer equipment and he said there was a $5K cap without adding a rider.

I know insurance companies were talking about declining or requiring more insurance on certain breeds of dogs (don’t know if they ever did that or not). But I suspect they may have problems with requiring you to disclose guns in the house; although I’m sure they could decline coverage on them. They aren’t the government and can do what they please. But legislation requiring it might have problems.

[K191145]

I may stop by my agents office today and ask him about how much would they pay for stolen or fire damaged guns without listing anything, I feel perfectly comfortable asking him because he's a pro-gunny himself and will understand my asking. Farm Bureau was great after the tornado in 2012, they listed things and paid to repair them I never asked for. My roof wasn't that old then, he insisted that the damaged texture of the shingles from the hail was enough to replace the roof, I didn't argue but it seemed like he was eager to give me money, even painted the cedar siding too.