Insurance and WA State Firearm Bill HB1504

Here we discuss Washington State bill HB1504, which proposes that gun owners in the state be required to purchase a firearm liability policy or equivalent bond. The proposed bill would require gun owners in Washington state to purchase a firearm liability policy or a $25,000 bond and would be required for each firearm. This new bill mentions that those with 25 or more firearms may qualify as self-insurers, but it lacks specific details on how to. HB1504 will require at least $25,000 of coverage per incident arising from accidental or unintentional discharge. However, most homeowners and renters insurance policies in Washington State already cover such incidents. The firearm liability policy would have to be purchased from an insurance company authorized to do business in the state but the standard insurance companies do not sell a firearm liability policy to an individual.