Owning firearms does not have an effect on the cost of your home insurance premiums. However, you can increase your coverage by opting for a higher amount of liability insurance or scheduled personal property insurance, which will result in a higher premium. If you want to insure your firearms, the process is simple and usually takes 1-2 steps. It is important to remember that if a minor fires a gun inside your home and someone is injured or property is damaged, your insurance will not cover it if the child intentionally pulled the trigger.
If you already have a home insurance policy with the same company, you may be eligible for a discounted rate on your firearm insurance policy. Additionally, some insurers have recently updated their coverage policies, such as Lemonade Insurance, which no longer insures assault rifles. The final premium for any policy is determined by the insurer upon application. Firearms are usually covered by the personal property component of a homeowners insurance policy, but there may be limits on how much the insurer will cover for certain valuables. Homeowners insurance also covers your belongings while they're away from your property, but off-site coverage is subject to a sub-limit.
If your gun is stolen from your home or destroyed by a fire or bad weather, your insurance company will likely cover the loss.
