Concealed carry permits provide a situation where gun insurance is needed that is much simpler than guns in general. Taking the guns out into the community provides an additional reason to provide guaranteed financial responsibility and many of the problems that have to be overcome to design good insurance are mitigated. Some of the reasons that required insurance would be easier to implement are:
- Most permit holders are generally responsible people and many have purchased or would purchase liability insurance to give legal protection to the insurance owner. The insurance that will be recommended here is much broader than currently available liability insurance which is designed to protect victims, it will also provide better protection to the permit holder.
- Permit holders are already registered with government entities. Enforcement of this insurance requirement will not require a new registration system.
- The problem that “criminals won’t buy insurance” is not applicable as they won’t have permits.
- Insurers are likely to be more willing to provide the required insurance to this group.
- The Supreme Court of the United States has declared that there is Constitutional protection for having self defense guns in the home; but it has not done so for guns in other places.
There are also good reasons over and above the reasons for guns in general to require this insurance for guns being carried in the community: Continue reading