Feb 20, 2013 Comments Off on It Continues: New York Democrats Propose Bill to Force Gun Owners to Buy $1 Mil Liability Insurance, or Lose Rights to Own Firearm Toro520
“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.
The bill has been referred to the Assembly’s Insurance Committee.
Mr. Ortiz represents a district in the New York borough of Brooklyn.