Cheh says that it will create a more careful gun culture, and provide a source of compensation for those injured by firearms. 

However, one of insurance's basic tenets is that it does not cover illegal acts. Typical homeowner's policies already cover unintentional discharge that causes injury or property damage.

NAMIC's Collins says, "Liability insurance covers negligence. It does not cover criminal or intentional acts. With regard to guns, liability insurance would cover accidental events and injuries, but not an intentional use of a weapon to inflict harm. In much the same way that a person would not be covered by their auto insurance if they chose to run someone down with their car, a person is not covered by insurance if they choose to hurt someone with a gun."

Seven states, including California, Connecticut, Massachusetts, and New York, have proposed similar bills, but it does not seem that Washington, D.C. will pass Cheh's legislation, according to testimony made yesterday by the Chester A. McPherson, deputy commissioner of the state's Department of Insurance, Securities and Banking. 

"The Administration is committed to the Second Amendment rights of our residents and protecting the safety of everyone in the District. However, the Executive is not convinced that there is currently a persuasive argument to support the need for insurance for firearms in the home," said McPherson.

He continued, "The Department is aware that several other states have offered similar bills mandating insurance coverage for firearm owners. However, to date, none of the bills have been enacted. Consequently, there is little experience- that is, there is no data- for either carriers or regulators to analyze and evaluate the underwriting and claims experience for this type of coverage."

The Insurance Information Institute (I.I.I.) notes that gun owners can buy a $1 million umbrella policy for about $150 per year, and the National Rifle Association (NRA) offers an accident-insurance plan to its registered members.