As the weather starts to get nicer you might be eagerly awaiting the day you can pull out your summer toys from the garage again. Whether you have a boat, RV, seadoos, or a motorcycle don’t forget to ensure you have the right insurance coverage in place to protect yourself and your investment.
We’ve laid out all the steps you can take to insure your toys for the summer:
Assess your insurance needs
Determining the type of coverage you need is your first step. Consider your usage, location and value of vehicle when deciding on liability, collision, comprehensive or uninsured/underinsured motorist coverage. Our brokers at Park Insurance can help you through this process.
Understand the policy
Before you purchase a policy, work with your broker to ensure you understand the terms and conditions. Confirm what your deductibles, limits and exclusions include so you are not surprised further down the road Most importantly – make sure you understand what is covered and what isn’t covered. Understanding this can save you a lot of hassle!
Choose the right coverage
Choose the coverage that fits your needs, lifestyle, and vehicle type. There are a few different types of coverage you can get on your recreational vehicles. In most places, liability coverage is required by law and will protect you in the case of an accident where damage or injuries are caused to others. Collision coverage will ensure that you, or whoever is driving the vehicle will be covered in case someone else hits you and causes bodily injury, or damage to the vehicle. Finally, there is comprehensive insurance. This will cover any damage that happens as a result of non-collision events such as weather, theft, or vandalism.
Consider your accessories and equipment! Some recreational policies automatically cover items such as helmets, motorcycle gear and coverings.
In order to ensure you are protected for all situations, we recommend your policy contains all three of these coverage types. You never know when an accident could happen, and it’s important you and your assets are protected.
Take safety precautions
Many times insurance companies offer a discount for taking safety precautions. These can include things like using a GPS tracking system, installing an alarm, or taking a safety course may help lower your insurance premium.
Review and update your policy regularly
Sometimes your insurance needs can change! Make sure you review your policy yearly as a refresher to ensure you are adequately covered for the summer ahead.
Do any of your summer toys require a new policy? One of our brokers will be happy to support you with all the details in insuring your recreational vehicles for the summer. We’ll take care of the nitty gritty, so that you can focus on enjoying your time in the great weather with your summer toys!
