To all,

How many of you have product liability insurance that covers your gunsmithing shop and those that do, if you don't mind, what companies do you use and what are your premiums for the coverage?

In todays world, seems like a smart thing to have but would like to hear from some more experienced smiths first to see what you do.

Thanks for your time and information!

Good Shooting!!!

50

Fiftydriver, I agree that it's a prudent thing to do. I tell myself that over and over every year while I write the premium check. I know a couple of gunsmiths that don't have insurance but are incorporated. They seem to think that insulates their personal assets. I'm not going to risk everything I own to prove a point. Besides, an insurance carrier has a fiduciary responsibility to defend you. They hire the lawyer on your behalf.

I use to use a local agency to find coverage. First they dropped coverage for my tools & equipment. Then they dropped coverage of completed operations. Completed operations is the biggest liability a gunsmith has. It got to the point that the only thing covered was someone tripping over the front stoop. I now use an insurance broker from NJ, Joseph Chiarello & Co., 908-352-4444. They specialize in gunshops, gunsmiths, ranges, etc. Maybe they handle other lines too, I don't know. I don't remember how I got ahold of them but I've seen that they have a booth at the SHOT show.

I would keep insurance of some type. Old friend of mine had a small gunshop for years. He wanted an old powder keg someone had and they tried to pour the powder out inside the shop. The powder detonated, killed the owner, put a second person in the UPMC burn center for the better part of a year and hurt a third person. The shop burned to the ground. No insurance.. was not pretty.

Before someone asks.. Not sure what the powder was either.