Insuring Your Sports and Recreational Vehicles
Boats, jet skis, ATVs and recreational vehicles are exciting modes of
transportation. They provide a great means of escape on weekends and
vacations, but ownership of these thrill-seeking vehicles creates the need
for special insurance to protect you, your passengers and others.
While all recreational-type vehicles can be protected by the same basic
coverages, each one has its own special requirements and restrictions.
This brochure, prepared by the Independent Insurance Agents of America,
offers some basic information about insuring the vehicles you use for
sports and recreation.
Basic Coverages
At a minimum, boats, jet skis, ATVs and recreational vehicles need
"liability" and "comprehensive" insurance coverage.
Liability protects you if your vehicle injures someone or damages someone
else's property, and comprehensive insurance protects your property in
case of vandalism, damage or destruction caused by theft or fire.
Depending on the age and value of your investment, you may want to
purchase collision insurance, which provides coverage for damage you cause
to your own property.
Boats
The amount you pay for your boat insurance will depend on many factors
including the boat's value and the value of your boating equipment, the
engine's horsepower and whether it's in-board or out-board, and the length
of the boat.
You may purchase additional coverages for such things as such as Fuel
and Other Spillage Liability, your boat trailer, medical payments,
personal effects and liability to protect you from an uninsured boater.
You may be eligible to receive lower rates if you hold a captain's license
or have completed safety courses provided by the U.S. Coast Guard
Auxiliary or Power Squadron Courses. You may also receive discounts for
having safety equipment on board or providing protective storage for your
boat during non-use or off-season.
Jet Skis
The price of insuring a jet ski varies depending on its engine power
and value. Your insurance costs will typically be higher for a jet ski
with more than 500 cc. You also may obtain insurance to protect your
trailer or to pay you for medical payments if you're in an accident.
Recreational Vehicles
You may want to purchase an automobile policy to cover this type of
vehicle. This policy will provide you with liability, medical payments and
physical damage coverage for your motor-home and can be endorsed to
include coverage for rental to others. Other coverages you may want to
consider are:
- Replacement Cost/Purchase Price - In the event of a total
loss, you will receive a new unit equal to the model, class, body type
and equipment of your previous one. You will be compensated for the
actual purchase price of the vehicle.
- Personal Effects - Your valuables (clothing, jewelry, etc.)
may be covered against most hazards.
Other coverages you may want to discuss with your independent insurance
agent are Towing and Labor or Emergency Expense Allocation insurance.
Special rates may apply if you are more than 45 years old and have a good
driving record.
A Final Note
All recreational-type vehicles can be protected by the same basic
policy. Ricketson Insurance & Realty Inc. can provide you with
more details about this special insurance and guide you in purchasing the
best coverage to maximize your enjoyment and meet the insurance needs for
your recreation equipment.
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Ricketson Insurance & Realty Inc.
P.O. Box 921 - 955 Augusta Rd.
Thomson, GA 30824
Phone: (706) 595-4354
Toll Free: (800) 613-5874
Fax: (706) 595-9225
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