Summertime, and the living is easy, at least that’s what Ella
Fitzgerald says. The weather is warm, the kids are out of school, and
family BBQs are happening. It’s time to take your warm weather toys
out of storage and get ready for trips to the river, the lake, or the
ocean. The living might seem easy but an accident involving your boat
or ATV could complicate things. No matter what your summer plans are,
we’re here to make sure you and your toys are covered this summer!
Is insurance required for summer toys?
Insurance requirements for boats vary from state to state and depend
on things like use and horsepower. Generally speaking, most states
don’t require boaters to purchase boat insurance and the few
that do require insurance, limit the requirement to boats with at
least a 50 horsepower engine. Even if your state doesn’t require
you to carry coverage on your boat, you may still be required to have
insurance if you plan to rent a slip from a marina or if you have
financed your boat. It’s important to check with your local
marina and your bank to make sure you have any required coverage.
Insurance requirements for ATVs also vary from state to state and
depend on where you’ll be riding. ATVs and UTVs are not
street-legal so there are no insurance requirements to own one; but if
you plan to ride on state-owned land or parks, you will likely need to
carry liability coverage for your ATV. If you know you’ll only
be riding on land that you own or lease, you aren’t required to
carry coverage but it’s still a good idea to consider it. If
you’re involved in an accident and you don’t have
insurance, you would be financially responsible for any damage you
cause and any injuries related to the accident.
Do I really need toy insurance?
Even if you aren’t required to carry insurance on your boat,
it’s still a good idea to consider it. Accidents happen and
insurance will protect you when something goes wrong. Most boat
insurance policies are “all risk” policies which means
you’re covered in a variety of situations including collisions,
theft, vandalism, fire, sinking, and storm damage. You may have the
option to add coverage for personal items kept on your boat such as
fishing gear, wakeboards, surf boards, and other watersports
equipment. Even if you don’t feel like you need coverage for
physical damage, you may want to consider taking out liability
coverage to protect you in the event that you cause damage to someone
else’s property or are hit by an uninsured boater.
You could say the same thing about insurance for your ATV and other
off-road vehicles. You may not be legally required to carry ATV
insurance but riding can be risky so it’s a good idea to look at
your options. You may want to consider taking out collision coverage
to help repair or replace your ATV in the event that you cause an
accident or uninsured/underinsured coverage in the event that someone
without coverage hits you. As with boat insurance, you may have the
option to add coverage for optional equipment such as loading ramps
and safety equipment.
If you’re getting ready for summer fun or thinking about
purchasing a boat or ATV, let us help you make an informed decision
about your insurance. Call your local Acceptance Insurance Agent
today and let’s talk about the options that best fit your needs!