This bill mandates that all insurers authorized to provide homeowners, renters, excess liability, or personal liability insurance in New Jersey must offer firearm liability insurance as an optional coverage in their policies. This coverage is designed to protect against losses resulting from legal liabilities for bodily injury, death, and property damage caused by the ownership, maintenance, operation, or use of a firearm carried in public. The bill specifies minimum coverage limits, which include $100,000 for injury or death of one person, $300,000 for injury or death of multiple persons, and $25,000 for property damage, all exclusive of interest and costs.

The act is set to take effect immediately upon passage. By requiring this type of insurance coverage, the bill aims to enhance public safety and ensure that individuals who own or use firearms are financially responsible for any potential harm they may cause to others.