Let’s take a look at some potential coverage gaps during your action recreation, such as cruising the Harley, enjoying the trails on your ATV or searching for all the Mississippi River has to offer on your pontoon ride.
Many of us don’t think about the potential gaps in coverage as they partake in these hobbies. For some, it’s the thought that their homeowners policy reaches out to these hobbies and their vehicles. Others may look it an unnecessary expense with the old adage, “It won’t happen to me.” Not the case as motorcycles deaths happen 26 times more than automobile accident deaths.
Find out what your motorcycle coverage is, whether it protects the passenger in the same way it protects you, the driver. Also, look for deeper into that policy to ensure the friend you are lending your bike to is covered properly.
The coverage on these policies are rated much the same way as your automobile, taking into consideration the following:
- Where you live and where the vehicle is stored
- Your age, driving experience for that type of vehicle, along with your driving record
- For motorcycles and ATVs, they may look at Anti-Lock Brakes as they are proven to reduce accidents
- What type of boat, motorcycle or ATV is it? The make, model and engine size will all have bearing on your policy.
Planning for ATV trail riding only shouldn’t be the reason to forego insuring it. Close to 300 accidents per year result in the ‘On Highway’ death of an ATV driver/passenger.
Find out what is covered on your homeowners. Generally, your homeowners will cover a very basic boat valued up to $1,500, but if it’s a boat of decent quality, make and model, you are going to want a separate policy to provide the proper protection for you and your family.
For ATV owners, have that discussion with us about which policy matches your needs. Ask whether a safety course and/or wearing helmets will decrease your premiums. Ask us just who is covered to drive the ATV, such as friends or younger children. Find out about age restrictions as we explain how best to protect those close to you during those weekend hobbies.
Your boat, motorcycle or ATV should have its own insurance.
Lastly, we caution you not to think that your current Personal Umbrella Policy will provide coverage for your ‘action sports’ vehicles. Personal Umbrella coverage actually kicks in after the coverages of an underlying policy are exhausted.
Stop by Key City and have that ‘action sports’ discussion with us. Go forth and have fun on that ATV, motorcycle or boat, but let’s make sure you’re protected first.
(Statistics provided by Insurance Institute For Highway Safety)