Legislation Insurance?

[tricky9914]

Hey all,

I thought I would throw this out there, but has anyone ever heard of or purchased "legislation insurance"?

 

I own 3 machine guns and every time I think about adding another, the one thorn in my side is: "what if legislation passes, which would greatly hurt their value"? I think of each new machinegun as adding to the heap of money I will lose if something were to happen legislatively. I know, I know... Many of you are probably rolling your eyes since the laws have really not changed in almost 40 years, but still, it is a concern of mine. You can purchase theft and disaster insurance on firearms (which are more likely to happen), but how about legislation insurance? It would make me feel a heck of a lot better adding and adding to my MG collection if I knew I would be covered in the event of their banning or a freezing of the registry.

 

Thoughts?

[Black River Militaria CII]

No doubt Lloyds of London will insure you against a loss from legislation that would destroy the market value for your NFA. An actuarial probability can be determined for the potential cost to them for your loss, a premium established for the risk they undertake to pay for that loss, and a policy written. Determining the probability of the potential for loss by legislation will be tricky, in my opinion, but that's their job and you can choose to accept the cost of their assessment of the probability and buy in, or not. They are always on the side of a higher degree of probability of the threat happening which is reflected in the premium. My bet is that the premium would exceed the value of the asset before too long. FWIW Edited June 10, 2020 by Black River Militaria CII