In this YouTube video, Dave Ramsey shares his opinion on whether a person should purchase CCW insurance. This type of insurance may help people with high defense costs if they find themselves in court due to using their firearms.
While Ramsey is a firearm enthusiast and is usually armed by admission, he doesn’t carry concealed carry insurance personally.
He feels that due to the extensive training he and his staff and family have had, the chances of ever using the firearm are nearly zero. He states in this video that he relies more on knowledge of how to avoid situations where it becomes necessary, more than focusing on when a person might have to use it.
It’s an option for a person to purchase. It’s a personal choice for a person to get it. Ramsey has not read the policies available from many insurance providers. Still, based on what he’s heard through the firearm communities he’s familiar with, he feels that if a person has to defend themselves in court, the defense costs can be nearly one million dollars.
Ramsey reiterates the best way to avoid this scenario is to avoid using a firearm. He warns that if a person should purchase it, to get in deep to understand what it covers, what it explicitly does not cover, and then judge whether a person is getting value from that policy.