You spend a lot of money on them:  Watercraft/boats, jetskis, snowmobiles, dirt bikes, all-terrain cycles (3 wheels), all-terrain vehicles (4 or 6 wheels).  These can be costly items to purchase, and if not insured properly, they can be costly to replace.

You might think you have automatic coverage on your Homeowners policy, however, that is not usually the case.  Your homeowners policy has provisions (for an additional premium) to cover MOST of these toys for physical damage and liability, but not all of them.  Things such as horsepower, cc’s, maximum speed, and an operator’s driving record will have an impact on whether or not an item can qualify to be endorsed onto the homeowners policy or if separate coverage is needed.

Keep in mind that most insurance companies cover these toys for Actual Cash Value only.  If you paid $6,000 for a watercraft or sport vehicle 5 years ago and it is still insured at $6,000; you are probably over-insured and are paying a little too much for coverage you’ll never be able to collect on.

Regardless if you have your toy(s) insured with us or not, give us a call.  We’ll be happy to review the coverage and limits with you and if necessary make recommendations to be sure you’re insured properly.

By Brendan White

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