Will concealed carry insurance actually protect you and your family?
There are concerns (for example, see thread here) where policies may not be delivering as expected.
You have to read proposed policy language carefully to see what is covered and what is excluded.
Insurance policies seldom cover damages resulting from intentional or reckless conduct, only negligence. Plaintiffs will often plead negligence in order to bring in insurance as a potential resource to satisfy judgment, and regardless of eventual liability determination, the insurance company’s duty to defend is usually broader than the duty of coverage.
So insurance usually makes sense at least to cover some of the attorney fees.
But to truly protect yourself and your family, including family wealth, you need to consider other layers of protection.
Most importantly, foster a family militia ethic of regular training, during your life as well as after your death. Good training can go a long way toward preventing both criminal and civil liability in defense situations. Take advantage of the free handgun training we provide to the public generally and also under our client maintenance program.
Next, make sure you have a comprehensive estate plan that truly protect the inheritances of your children from creditors, predators, and perhaps their own profligacy, depending on the level of control you give them. You can also provide similar prtection to a surviving spouse. This kind of protection is relatively easy to obtain even with a basic, foundational estate plan, even in California.
Next, consider self-settled asset protection planning (protecting your own assets against your own creditors). Some of this is easy, maximizing use of available exemptions from collection. Beyond the available exemption planning, maximum protection is expensive, but often worth it especially for anyone with a business or otherwise facing potential future lawsuits. (It’s generally too late once circumstances arise creating a cause of action.) These advanced options involve sophisticated trust and entity planning, not only in California but also in other states and often offshore as well.
One more thing: Asset Protection Planning may actually help you become a better fighter. It can do that by helping you to avoid DEADLY HESITATION. You try to avoid that with regular practice. And hopefully you would never hesitate if defending your family. But what if it’s some other situation, like defending against a mass shooter in a mall attack? I know many concealed carriers who swear they will never defend anyone other than self or family, but what if you have the opportunity and decide otherwise? Concern over inadequate estate planning (including asset protection planning) could well cause DEADLY HESITATION.
My radio ad on Asset Protection for CCW is located here.
