new york

N.Y. bill would force gun owners to buy at least $1M in insurance

by Jessica Chasmar, The Washington Times  |  published on February 20, 2013

A bill introduced in the New York State Assembly by Assemblyman Felix Ortiz, a Democrat, would require the state’s residents to acquire liability insurance as a condition for gun ownership.

“Any person in this state who shall own a firearm shall, prior to such ownership, obtain and continuously maintain a policy of liability insurance in an amount not less than one million dollars specifically covering any damages resulting from any negligent or willful acts involving the use of such firearm while it is owned by such person,” the measure, dubbed S2353, reads.

Any person who has not purchased insurance in compliance with the law within 30 days of its passing would be in violation of the law.

Such an occurrence “shall result in the immediate revocation of such owner’s registration, license and any other privilege to own such firearm.”

The bill also states that if a gun is stolen, the legal owner of that gun is responsible for any damage incurred until a loss or theft is reported to the police department.

Liability insurance for $1 million in coverage for gun owners is estimated to cost between $1,600 and $2,000 annually, the Examiner reports.

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