Finding affordable golf cart insurance is easy. After all, fewer accidents happen in golf carts than most any other type of motor vehicle. That's why golf cart insurance is more affordable than most all other types of toys.
What you may not know is that many times you're settling for sub-standard coverage when you could be getting much better and higher coverage. For literally pennies on the dollar and sometimes at no extra cost at all, I'll show you how to maximize your coverage for a little or nothing extra in premium. So before you buy a golf cart insurance policy, make sure that you're aware of and avoid these five pitfalls:
Five biggest mistakes made when buying golf cart insurance
1. Attaching your golf cart to homeowners insurance policy. Yes, this way maybe simple and very inexpensive. But the fact is, if you read the policy, you may be surprised to find out what the policy does not cover. Each homeowners insurance company attaches golf cart insurance policies a little differently. And because of that, there are some wide variances from one company/policy to the next as far as what is covered and what is not.
There are several things you need to keep your eye out for with the golf cart attached to a homeowners policy:
Those are just some of the shortcomings you need to be aware of if you're attaching your golf cart to a homeowners insurance policy. But when you buy exclusive stand-alone golf cart insurance, you don't have to worry about any of those lack of coverages because with most stand-alone policies, those things are all covered.
2. Shopping with the same mentality for golf cart insurance that you would shopping for auto insurance. Keep in mind that you need to be very price conscious when you're selecting levels of coverage. The comparisons between coverage versus price are totally different for golf cart insurance then they are for auto insurance. And thus, you want to look at golf cart insurance in a different way. Some parts of auto insurance coverage are pricey enough that people reject or lower important coverages. With golf cart insurance, that is almost never the case.
3. Not comparing prices at higher coverages. This is the part where I let you in on a big secret. With most golf cart insurance policies, there's always a yearly minimum premium. That's the absolute lowest that any company will insure a golf cart for.
Because golf carts are off-road vehicles and because of the chances of them being involved in a collision are very rare, it just so happens that many golf carts rate below the yearly minimum premium. What does this mean? It means that you can get a lot higher coverage than what you're being quoted for little or no extra money.
4. Not taking comprehensive and collision coverage. Many people simply select liability coverage only on a golf cart. Nine times out of 10, they're making a big mistake as far as value versus price. That's because components of a golf cart insurance policy are much cheaper than people realize! And this certainly includes comprehensive and collision coverages, even at very low deductibles. And besides physical damage coverage on the golf cart, you also do not want to pass up on uninsured motorist coverage or medical payments coverage. Both of which may not even be available on the homeowners policy. Once again this coverage is very inexpensive. I highly advise you to look into that.
5. Not being insured for accessory coverage. A lot of golf cart owners like to modify their cart in someway. If you carry physical damage coverage on the golf cart, most stand-alone golf cart insurance policies will also allow you free accessory coverage up to a certain amount (usually $3000) And you also have the option of purchasing even more coverage if need be. Once again this coverage is very inexpensive, not to mention free in most cases. But yet very few people take advantage of it.
Summary: the best way to illustrate how this works is to simply show you examples of quotes I've ran in the past......
Policy A: carries low level of liability insurance (25/50/25) and nothing else..... Cost? $75 per year. .....Now let's take that exact same insured driver and set them up with policy B:
Policy B: is quoted with much higher levels of liability coverage 100/300/100, also carries 100/300 uninsured motorist coverage and $10,000 worth of medical payments coverage. And it has physical damage coverage on his golf cart with both comprehensive and collision that only have $100 deductibles.... How much do you think policy B would cost per year?
From my experience as an agent running golf cart insurance quotes for people, I can tell you that for the majority of people, policy B is going to be somewhere in the range of 75 and $90. That's it! That is at most only a 20% increase,and in many cases especially with older model golf carts, there's not any extra cost.
I know that may sound like something a little too good to be true, but it's really not. It's simply a flaw in the rating system of how many golf cart insurance companies rate the golf carts in comparison with other types of vehicles.
So take advantage of it. If you live within my six state territory, feel free to see for yourself. Click on the link below and I will run your golf cart insurance quote with companies that rate golf carts exactly like I've described. You will see for yourself the difference in value. And as always, I handle all put all quotes personally and privately.
Get a golf cart insurance quote
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Dan Lyles is an Independent Insurance Agent serving Ohio, Indiana, Michigan, Pennsylvania, Virginia and West Virginia..