While most people have home and auto insurance, there are also many other activities that you may need insurance for. Sometimes, it can make sense to go with your existing insurance company. There can also be times when you can get a better deal by buying insurance separately. Your insurance agent can help you explore the different products that are available and where you can find them.
Motorcycle
Whether your motorcycle is your daily commuter or your hobby ride, you have to have insurance for it. This isn’t just because you want to protect the money you’ve invested into your ride. Motorcycle riders who ride on public roads have to have at least the state minimum insurance just like any other vehicle on the road. To fully protect your assets, you’ll probably also want to add things like additional liability coverage and maybe medical payments, extra equipment coverage, and roadside assistance.
A motorcycle insurance policy works almost exactly the same way as a car insurance policy. The main difference is in the pricing. In addition to variations due to the different vehicle types and risks, you may also have a few additional options. If you have a car that serves as your primary vehicle, you may be able to receive a discount on your motorcycle coverage as a less frequent rider. There are also coverage options for seasonal riders who store their motorcycles during the winter months and don’t need to maintain full coverage during that time.
ATV/UTV
ATV and UTV coverage is mostly optional, although you may come across places that require you to carry coverage as a condition of you being allowed to ride there. However, you still have financial liability for anything that happens while riding even if you don’t have insurance. Without insurance, you would have to pay out of your own pocket if you injured someone or damaged their property. You may also not want to take on the risk of having to pay to replace your ATV or UTV if something happened to it.
The coverage options for an ATV or UTV are similar to that for a motorcyle or car. You can get protection for your ATV or UTV, for your liability to others, and even for your own injuries. Because ATVs and UTVs are generally part-time recreational vehicles, the costs will usually work out to much less than it would to insure a car or a motorcycle.
Umbrella
Even if you’ve dutifully selected more than the minimum liability limits on your car insurance and home insurance, that may not be enough. Think about how much it would cost to replace the most expensive car you’ve come across on the road or if you made a mistake that put someone into the hospital for months. Those costs could easily exceed standard liability insurance limits, and you’d be personally responsible for any difference.
Umbrella insurance is a way to get additional liability protection. Umbrella insurance works on top of your existing insurance policies to cover those high-value claims. So if you get sued for a million dollars but only have $250,000 in liability coverage on your home or auto insurance, you won’t need to worry about where the rest of the money will come from. In addition, umbrella insurance is usually cheaper to get than it is to add the same amount of coverage to all of the different liability policies that you may have.
Boat
Like an ATV or UTV, boat insurance is usually optional when you’re using your boat for recreation. However, you probably don’t want the amount of money that you spent on your boat to literally sink to the bottom of a lake or river. You can also have liability in the event that you injure someone or damage their property in an accident. Boat insurance can protect your boat, provide liability protection, and even add benefits like emergency assistance if you get stranded while you’re out on the water.
RV/Camper
RV and camper insurance is like a hybrid of car and home insurance. You are required to have liability coverage when it’s a vehicle that you drive on public roads. You also probably want to have protection in case a fire, storm, or other disaster destroys your RV or camper or the belongings you have inside of it. You can also add liability coverage that protects you from mishaps that happen around your campground. Coverage options and pricing may vary based on whether you use your RV or camper for the occasional trip or live in it full time.
Other Products
If there are any other activities that you’re engaged in that could result in medical bills or property damage that are higher than what you’re comfortable taking out of your savings account, insurance is probably something that you want to consider. There are insurance policies for most types of common activities, hobbies, and business ventures. Even when there isn’t a specific policy available, your insurance agent can often help you customize an existing solution to your needs. Your insurance agent can also help you determine if you may or may not already have coverage under another policy like your home insurance agent.
Talk to Your Insurance Agent
Cornerstone Insurance Group is based in Zimmerman, MN, and serves the northwest suburbs of the Minneapolis metro area. Chris Klemesrud is here to help answer all of your questions and to help you find the right coverage. Call or email now to get started.
