$200 to $300 is ridiculously high for gun insurance. There are about over 20% more guns than cars in the US and there are about 10 million auto accidents every year causing about 40,000 deaths and costing around $300 billion.
There are only about 14,000 to 19,000 non-fatal accidental shootings each year, resulting in about 600 deaths.
If we go by fatalities, car insurance (for liablity, this does not include collision to cover your own car) should be about 80 times more expensive than gun insurance.
If you go by total accidents, it auto insurance she be about 640 times more expensive. If we average those, a reasonble mutiple would be about 360.
So, if a fair premium for gun insurance is $200 per year, auto liability premiums shold be about $72,000 per year. Even using the most conservative estimate (based upon fatalities), it should cost $16,000 per year.
A fair price for gun insurance would be more on the order of $5 or $10 dollars per year.
This doesn’t even take into account the fact that auto accidents typically cause far more property damage than gun accidents.
Agree -- homeowner's insurance usually covers firearms accidents, and my insurance company doesn't even think the risk is high enough to ask me about any guns. They do put a ceiling on theft claims of firearms. But they don't seem to think it's much of a liability risk.