We the people petition the administration to pass a law that mandates a private insurance policy for all private firearms owners.
This law will serve in the following manner.
1- The insurance policy will serve as a compensation for victims of gun violence.
2- The insurance cost will serve as a deterrent for people to multiple guns; therefore, the responsible gun owners can own a single gun that they are responsible for monitoring much like a car.
3- The insurance company can regulate the conditions surrounding the policy. i.e If the gun owner owns a safe for the gun, they receive a discount in the same fashion that home insurance provides discounts for fire safety.
Also, different types of gun would require appropriate policy. Hunting rifles would need basic while assault rifles full plan