Boats and Motorcycles and ATV’s, Oh My! Recreational Vehicle Insurance

Daniel Crichlow
Written on April 23, 2018

So you went out and bought yourself a new recreational vehicle. Congratulations! But now what do you do with it? Is there such a thing as insurance for boats, motorcycles and RV’s? Of course! If there is insurance for alien abductions, there is insurance for recreational vehicles.

There are four major things you should understand if you’re looking for motorcycle, boat, RV or ATV insurance.

Insurance for your toys is going to look very similar to an auto policy.

Don’t fret over trying to figure out how to navigate the waters of boat insurance, it’s pretty easy. You’ll want to make sure you are insured with a reputable company, and carrying a minimum of $500,000 liability insurance, or a minimum of $250,000/500,000 bodily injury coverage. Even though it may not seem like you need very much liability protection on the water, boat accidents can be very severe and cost thousands of dollars.

Know the current value of your vehicle.

When you insure your vehicle, you will want to let your agent know the cost new, and the current value so they can make sure you have the correct amount of coverage. You don’t want to simply insure your vehicle with a guess, and find out later that you came up way short and now don’t have enough coverage to replace it.

Talk to your agent about what is important to cover.

Most vehicles come with lots of extras and gizmos. Many insurance policies will provide coverage for extra electronic equipment installed in these vehicles. If you have a nice fishing boat with expensive depth gauges, fish finders and the like, talk to your agent about getting those covered.

Come up with a Risk Management strategy with your agent to ensure the best use of your vehicle.

Even though you now have insurance on your vehicle, come up with a plan to make sure you are staying safe while using it. Talk about safety rules to put in place for your ATV or boat to help ensure everyone stays safe. Ask for advice on when are the best conditions for riding your motorcycle, or going for a cruise. You may be surprised how much information your independent agent can provide.

As always, give us a call if you need help insuring your boat, RV, ATV or motorcyle!