There is a saying, “The bigger the boy, the bigger the toy”. If you have any “Big Toys” it’s important you know what insurance coverage you need to protect it and yourself from possible liability lawsuits. I got a call from a client not too long ago wanting to report a claim on two dirt bikes that had been stolen from his home. Unfortunately home insurance policies only cover items that are within the home as a unit or furniture. Your policy does not cover sports equipment such as golf carts, Jet Skis, boats, go carts, etc.
Is Toy Insurance Better for My 1977 Shelby Coupe?
Did you know that covering your highly valued collectors cars under a standard car insurance policy does not necessarily cover the value of your vehicle? With Toy Insurance, the agreed value coverage starts at the beginning of the policy. That way there are no surprises if an unfortunate accident causes your prized possession an heavy bill. These policies also come with generous mileage coverage, and the repair facility of your choice. There is even coverage for vehicles under construction. Have a few cars you would consider antique? We offer a multi-car discount!
Argument: I may be A Collector but My Money is Tied in these Assets!
You may be thinking, ‘But Mark… I keep my toys under lock and key or garage door. Nothing is getting them without my permission.” If a house fire starts, are you going after the Shelby or your family first? With toy insurance, you know that your loved ones get counted first and your covered. Regardless if your home owners insurance values your antique car at 5 dollars or $1000, being that it is based on completely different rating standards.
Insuring these items is relatively simple and affordable but mostly it is advisable. It provides you with liability protection just in case a third party gets hurt or injured. Even if you don’t care if the old dirt bike gets stolen, your boat sinks, or the golf cart crashes. You can still get just liability coverage to protect yourself from possible lawsuits for less than a trip to McDonalds once a month. Don’t procrastinate, if you have a “Big Boy Toy”, call your insurance agent and make sure you are protected! If you don’t have an agent then call us and we can help get you and your “Toy” covered.
And remember, at Samaha Insurance it’s not about us, “It’s always about you”.