Are Your "Toys" Properly Insured?

Are Your "Toys" Properly Insured?

April 13, 2021
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Here at Sandy Garza & Associates, We Know Insurance.  One of our specialties is insurance for those big toys of yours such as RVs, motorcycles, and boats.  Keep your cool as we move into warmer weather and begin to take those big toys out for a spin!

As you kick back, relax, and enjoy the coming warmer weather, make sure that you are adequately covered for all of your fun, big toys that you will be taking out and dusting off this spring and summer. Without proper coverage, you could find yourself in a situation where you are liable for property damage and personal injury. An accident with one of these toys could even potentially lead to a lawsuit. Are you ready for that? Don’t fret. We’ve got your back.

Does your auto insurance or your homeowner insurance cover these toys? Sometimes the answer is yes. However, sometimes the answer is no. It is imperative to meet with us at Sandy Garza & Associates so we can go over what policies you have currently and ensure you have proper coverage as you get ready to go out and play!

Toys, Toys, Toys…

  1. Personal Watercrafts Personal watercrafts such as jet skis can be fun and fast. Your homeowner’s insurance policy may not have the liability coverage needed for personal watercraft. If you own a personal watercraft, you will likely need a personal watercraft policy and umbrella insurance to be appropriately covered while operating it.
  2. Boats There may be some coverage on your homeowner insurance policy for damage to your boat, but it is limited. Many situations in which your boat may be damaged are not covered under your homeowner insurance policy. Some boats under specific sizes and motor power may be covered for liability, but coverage is limited. You must ask yourself if you are okay with risking not having enough coverage while operating and storing your boat.
  3. Motorcycles If you own a motorcycle, you likely know that they are not covered under your regular auto insurance or your homeowner insurance policy. Motorcycles require a motorcycle policy. Motorcycle insurance, much like traditional auto insurance, has its requirements for coverage and can change state to state.
  4. Recreational Vehicles Recreational vehicles have different requirements for insurance depending on whether they have their own motor and other factors. You’ll need at least liability coverage and potentially a full policy for RV insurance depending on the type of RV and what level of risk you are comfortable taking when using and storing it.
  5. Other Toys  From backyard toys like pools and trampolines to other toys like golf carts, your various recreational activities come with a level of risk involved. It is essential to have your policies regularly reviewed to ensure that you are covered in the case of an accident or emergency. Some of these things may have limited coverage from your homeowner insurance policy, but an umbrella policy will ensure that you have the coverage you need.

Get Yourself an Umbrella Policy

Umbrella insurance is great because it adds an additional layer of protection against liability on top of policies you may already have, such as homeowner, auto, etc. Umbrella insurance kicks in when your other policies max out, so you know that you will be protected in the case of property damage or injury when you are using and storing your toys this spring and summer.

In Summary

The best thing you can do for yourself before you start to take out your big toys and dust them off for the warmer weather is meet with us at Sandy Garza & Associates. We will review your current policies, consider your inventory of toys, and find out if you have enough coverage. The goal is to find a balance between maximizing your coverage and not emptying your wallet. We are an independent insurance agency, so we can access several insurance carriers and see what works best for your budget without sacrificing coverage. Call to find out how we can serve you today!