New York House Representative Carolyn Maloney has introduced a new bill that would force gun owners to have liability insurance or face fines of up to $10,000.

According to Maloney the stipulations in The Firearms Risk Protection Act would curb gun violence, much like car insurance has lowered vehicle fatalities because gun owners would be more careful.

"We require insurance to own a car, but no such requirement exists for guns," Maloney said in a statement. "The results are clear: car fatalities have declined by 25 percent in the last decade, but gun fatalities continue to rise."

Maloney said auto insurance carriers incentivize drivers to take precautions to reduce accidents, but no such incentives exist for firearm owners.

"An insurance requirement would allow the free market to encourage cautious behavior and help save lives," she said. "Adequate liability coverage would also ensure that the victims of gun violence are fairly compensated when crimes or accidents occur."

Source: The Hill