Bill > SB1243

This bill requires insurance companies operating in Tennessee to provide a discount on homeowners or renters insurance policies for policyholders who take specific steps to secure their firearms. The discount applies to residents who either store their firearms in a firearm safe or use a firearm safety device, as defined in existing state law. Policyholders must request the discount, and the insurance company must provide information about the discount on their recurring bill. Importantly, the bill explicitly states that policyholders are not required to disclose the presence or ownership of firearms to qualify for the discount. The term "tangible personal property" is defined as property that can be perceived by the senses, such as being seen, weighed, or touched. The law will take effect on July 1, 2025, and will apply to new, amended, or renewed insurance policies from that date forward. This legislation aims to incentivize responsible firearm storage by offering a financial benefit to policyholders who take steps to secure their weapons.

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https://wapp.capitol.tn.gov/apps/Billinfo/default.aspx?BillNumber=SB1243&ga=114