Ah, summer. It’s the time of year many Minnesotans wait for; the time of year to bring out and enjoy the summer toys.
Before you do, however, you might want to make sure you have the best insurance coverage for the toys you have.
Whether it’s a boat, personal watercraft, ATV, golf cart, RV, motorcycle or more, here is what you need to know about insuring your summer toys.
Although Minnesota does not mandate that you have insurance on your boats, we strongly recommend that you do to cover a loss, damage or injury to one of your passengers.
And while your homeowners insurance may cover a kayak or canoe, you may only be covered up to a certain amount.
Boat insurance can provide coverage if your boat is stolen, vandalized, or is in an accident. It also provides coverage against uninsured or underinsured boaters that are involved in an accident, and it can cover medical bills for you and any passengers that are injured in an incident involving the boat.
And if you have jet skis or other personal watercraft, you should insure those, too.
A study in the American Journal of Preventive Medicine found that nearly 150,000 golf-cart related injuries were reported between 1990 and 2006. So, if you drive a golf cart, you might want to consider insuring it.
If you only drive it on the links, then it might not be necessary. But if you drive your golf cart anywhere else, consider coverage for it, even if you only drive it on your property or around your neighborhood.
Most homeowner policies allow a golf cart to be endorsed onto the policy but we recommended it has its own policy. This keeps any claims off the homeowners policy.
Golf cart insurance is similar to automobile or motorcycle insurance. In fact, most insurance companies cover golf carts under their motorcycle insurance policies, along with scooters, mopeds, and ATVs.
Typically, coverage includes:
While Minnesota law does not require ATVs to be covered by insurance, it is still a good idea to purchase a separate policy for the ATVs that you do have. Coverage typically includes:
You can also get coverage for custom parts and equipment. This includes:
If you have other summer toys like a motorcycle, moped or RV, you’ll need a separate insurance plan for those as well. And of course, don’t forget to get a separate homeowners plan for a cabin, too.
Whatever summer toys you have, contact me so that I can provide you with personalized service that meets your needs while keeping your costs as low as possible. Then, have a great summer enjoying those toys!