HB 24-1270: Firearm Liability Insurance Requirement

• Colorado firearm owners must maintain continuous liability insurance covering at least $100,000 in damages from accidental or unintentional firearm discharge to third parties, effective January 1, 2025.

• Failure to maintain required insurance is a civil infraction punishable by a minimum $500 fine on first offense (half may be suspended if insurance is obtained) and a minimum $1,000 fine on subsequent offenses within 5 years.

• Persons denied coverage by 2+ insurers or indigent persons who cannot afford the coverage may petition a court for exemption if they demonstrate safe firearm storage practices and possess a gun safe or secure container.

• Insurers must make firearm liability coverage available within homeowners and renters insurance policies and include notifications about the requirement by January 1, 2026, but may deny coverage based on individualized risk assessment.

• Federal firearms licensees and those with valid court exemption orders are not subject to the insurance requirement.