Insurance Companies, Agents, Brokers, Policies

Plain English Breakdown

The bill requires policyholders to request the discount, contrary to the candidate explanation's claim that no explicit request is needed.

Insurance Discounts for Safe Storage of Firearms

This bill requires Tennessee insurance companies to offer discounts to policyholders who store their firearms safely and request the discount.

What This Bill Does

• Requires insurance companies in Tennessee to give discounts to homeowners or renters if they keep their guns safe using a firearm safe or safety device.
• Insurance companies must provide these discounts on a regular basis, matching when customers pay their bills.
• Policyholders can get this discount without disclosing firearm ownership but must request the discount.

Who It Names or Affects

• Homeowners and renters in Tennessee who have insurance policies for their property.
• Insurance companies that do business in Tennessee and offer homeowners or renters insurance.

Terms To Know

Tangible personal property

Items you can see, touch, weigh, measure, or feel.

Firearm safe

A secure container designed to store firearms safely.

Limits and Unknowns

• The bill only applies to insurance policies issued, delivered, entered into, amended, or renewed on or after July 1, 2025.
• Policyholders must request the discount explicitly.

Official Summary Text

For
agreements for homeowners or renters insurance issued, delivered, entered into, amended, or renewed on or after
July 1, 2025, this bill requires

an
insurance company
, which
is admitted to do business in this state and insures the ta
ngible personal property of a policyholder who resides in this state,
to
provide a discount to the policyholder through the policyholder's homeowners or renters insurance policy if the policyholder
meets the following requirements:



Either
secure
s
in a firearm safe or
u
se
s
a firearm safety device for all firearms kept at the property for which the policy applies
.



Requests to receive the discount in accordance with this
bill
.

This bill requires t
he discount
to
be provided on a recurring basis that aligns
with the policyholder's billing cycle. The insurance company
must
provide notice and information about the discount to a policyholder with the policyholder's recurring bill.
However, this bill
does not require a policyholder to disclose the presence or o
wnership of a firearm, or
to
request the discount
.

Current Bill Text

HOUSE BILL 1240
By Helton-Haynes

SENATE BILL 1243
By Massey

SB1243
002938
- 1 -

AN ACT to amend Tennessee Code Annotated, Title 56,
relative to insurance discounts.

BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF TENNESSEE:
SECTION 1. Tennessee Code Annotated, Title 56, Chapter 7, Part 1, is amended by
adding the following as a new section:
(a) As used in this section, "tangible personal property" means personal property
that may be seen, weighed, measured, felt or touched, or is in any other manner
perceptible to the senses.
(b) An insurance company that is admitted to do business in this state in
accordance with chapter 2, part 1, of this title, and insures the tangible personal property
of a policyholder who resides in this state, shall provide a discount to the policyholder
through the policyholder's homeowners or renters insurance policy if the policyholder
meets the requirements under subsection (c). The discount must be provided on a
recurring basis that aligns with the policyholder's billing cycle. The insurance company
shall provide notice and information about the discount described under this subsection
(b) to a policyholder with the policyholder's recurring bill.
(c) An insurance company shall provide the discount described under subsection
(b) to a policyholder if the policyholder:
(1) Does at least one (1) of the following for all firearms kept at the
property for which the policy applies:
(A) Secures the firearms in a firearm safe, as that term is defined
in § 67-6-358; or

- 2 - 002938

(B) Uses a firearm safety device, as that term is defined in § 67-6-
358, for the firearms; and
(2) Requests to receive the discount in accordance with this section.
(d) This section does not require a policyholder to disclose the presence or
ownership of a firearm, or request the discount described under subsection (b).
SECTION 2. This act takes effect July 1, 2025, the public welfare requiring it, and
applies to agreements for homeowners or renters insurance issued, delivered, entered into,
amended, or renewed on or after that date.