When it comes to buying golf cart insurance, people tend to make the same mistakes over and over. While golf cart insurance is fairly easy to buy and is priced very low, people tend to take shortcuts that cheat them out of better coverage. For the same, or nearly the same price, you more than likely could be getting much better and/or higher coverage if you don't make the same mistakes many others do.
There are some key points regarding golf cart insurance that you need to be aware of before buying a golf cart insurance policy. This article will help you understand what you need to know, so you can choose the appropriate coverage at the right price. Here are some key points about golf cart insurance that you need to know:
1. Buying an exclusive golf cart insurance policy is almost always better than attaching a golf cart onto a homeowners insurance policy.
This is by far the most important key. And it is the most common mistake I see people make. It is very convenient to simply attach your golf cart onto your home insurance policy. But if you look at the fine print, you'll see that the coverage is not always the same:
Many of those attached policies limit where coverage is offered. Some policies don't even cover your golf cart off of your own property. Other attached policies have other limitations that an exclusive golf cart policy would not.
An exclusive policy offers uninsured motorist coverage, medical payments coverage and roadside assistance, an attached homeowner policy usually only covers the golf cart.
2. Golf cart insurance premiums versus other vehicles.
A golf cart policy gets rated at a much cheaper rate than most vehicles. That means either much better rates for you, or much better coverage for the same amount of premium. Because golf carts are considered off-road vehicles, premium for coverage on any golf cart is much lower comparable to an auto or motorcycle. In fact, many golf cart insurance policies cost less than $100 a year. Many golf carts go uninsured because people do not realize just how little golf cart insurance will cost them.
3. Don't shop with the same mentality for golf cart insurance that you would shopping for auto insurance.
The premium for certain parts of auto insurance can be pricey enough for many to pass on. With golf cart insurance, that is almost never the case. Most of the added coverages that you may have passed on with auto insurance coverage is worth another look due to being a much lower price. But many who are familiar with auto insurance tend to turn down certain aspects of coverage because of price. This is especially true regarding comprehensive and collision coverage.
4. Always ask what higher levels of coverage costs.
Sticking to the same levels of coverage that you are used to carrying on other types of vehicles might be making a big mistake as well. With many golf cart insurance policies, increasing coverage to double or triple the level you're quoting with costs next to nothing! So be sure to inquire about higher levels of coverage, and lower deductibles on comprehensive and collision coverage.
5. Additional coverages.
A good golf cart insurance policy will offer other types of coverage that a lousy policy won't. These are all very inexpensive, and worth taking a look at. These include but are not limited to:
6. Cross-sell discount opportunities.
Almost anyone who owns a golf cart also owns automobiles plus other type of recreational vehicles. Having multiple vehicles insured with the same company usually comes with a very nice discount. Be sure you take advantage of this. It may save you a significant amount of money on other types of vehicles that you're paying insurance coverage for.
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Dan Lyles is an Independent Insurance Agent serving Ohio, Indiana, Michigan, Pennsylvania, Virginia and West Virginia..