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What Does It Mean to Have Gun Liability Insurance? – Mezzanine Financing Legal News

The country’s first law.

The gun owners will also be required to pay an annual fee of about $25, which will be used to fund programs to reduce gun violence. This new fee would be in effect from August 1st without court intervention. According to the law, anyone who lives in the City who owns, or is the owner of gun within the City, must obtain an insurance policy covering homeowner, renter, or gun liability with an insurer that has been approved as in the California Insurance Code. Gun owners who don’t have firearm liability insurance under their renters’ or homeowners insurance policies could face problems: “No major regional or national insurer will provide separately gun liability coverage.”

The ordinance also requires firearm owners to submit an “city-designated attestation” for proof of this insurance and to keep the form with the firearm whenever they travel carrying the firearm. If they fail to comply, the firearm could be the cause of an administrative hearing. The firearm could be confiscated. wy6jn3e4hl.

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