Gear up for summer

Summer’s almost here – time for camping, fishing and all the fun warm-weather activities summer brings.  Before slipping into your swimsuit and slathering on suntan lotion, consider this: Do any of your favorite summertime hobbies involve a recreational vehicle?  If so, do you have insurance protecting that vehicle against loss?

EXACTLY WHAT IS A RECREATIONAL VEHICLE?
   A recreational vehicle is just what is sounds like: one that is used primarily for enjoyment or relaxation.  For example, a speedboat that you run only during the summer; or the motorcycle you ride on the weekends both count as recreational vehicles.

WHY DO YOU NEED SPECIAL INSURANCE?
    Most recreational vehicles don’t come cheap and represent a substantial investment.  Shouldn’t you protect these assets just like you do your home or automobile?  Additionally, if another person uses your vehicle and is injured, an insurance policy would reduce the legal liability you might face.

   Need further convincing?  Here are specific examples of recreational vehicles and reasons you should insure them.
   Motorcycles:  According to the National Highway Traffic Safety Institute, motorcyclists are 35 times more likely than passenger car occupants to die in a crash.  If that isn’t enough to make you seek coverage, keep in mind that, according to Insurance Crime Bureau Statistics, nearly a quarter of motorcycles that are stolen are never recovered.
   Motorhomes:  Obviously, the coverage needs for this dual-purpose vehicle are going to be unique.  Sometimes these needs can be met by adding coverage to your auto policy, but a separate policy often is required.
   All-terrain vehicles:  A typical homeowners policy will cover liability for vehicles, like ATVs, so long as they remain on your property.  Of course, any seasoned ATV rider knows that half the fun is cruising on one.  Additionally, ATVs have a notoriously high theft rate, so why take any chances by not purchasing the needed protection?  
   Golf carts:  Like ATV’s, there may be liability coverage on your homeowners policy if you only use your goft cart on your property, but not if you use your golf cart as a means to travel around your campground, retirement park or down the street to the community swimming pool.  There is also no coverage for theft of, or damage to, your golf cart.
   Boats:  Different boats require different types and levels of coverage.  For example, a speedboat would create higher risk than a rowboat.  Like so many other recreational vehicles listed here, boats are an expensive investment that you should be prepared to protect.

   Summer fun is just around the corner.  Before the temperature heats up, ensure your favorite summer toys are protected and give us a call if you have any questions or concerns about your recreational vehicles.

Call us at (856) 935-0845 or visit our website at www.hdyoung.com before you head out to play.

The information in this article is meant as a guideline only.  There is nothing in this article that alters the coverage or interpretation of any specific policy.  Because some statements are generalizations, and because different companies’ policies contain slight differences, please refer to your specific policy.  Call our office before making any judgements or decisions concerning your particular situation and coverage that may, or may not, apply.

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Renter’s insurance: don’t put it last on your list

It is easy to lose your priorities during a time of change; and, moving into a new apartment is no different.  There is the excitement of buying new furniture and designing your new living space; there are even the necessities of setting up utility service and switching mailing addresses – but, once you open the door to your new apartment you have to think about protecting yourself and your valuables.  Your first priority should be purchasing renter’s insurance.

Renter’s insurance covers the damages to or loss of your personal property from a host of circumstances, including; fire or lightening; windstorm or hail; explosion(s); riots or civil commotion; aircraft; vehicles; smoke; theft; water-related damage from home utilities; and more.  It also will cover you if you are negligent and someone gets hurt while in your apartment.  Property owners insure their property, which you are renting, against specified losses, but their policy is not necesarily going to cover your losses.  In fact, some landlords make purchasing renter’s insurance a requirement to rent the property.

If your apartment becomes unlivable due to an insured loss, renter’s insurance may cover certain costs with finding a new place to live … but it is nuances to this type of insurance that makes working with a professional independent agent a must.  There are misconceptions and misunderstandings about renter’s insurance – we are ready to help you find the right coverage.

When you shop for renter’s insurance, it is important to know whether the company will be writing actual-cash value or replacement cost.  Replacement cost will be higher in premiums, but it will cover your losses to a greater extent.  Because actual-cash value pays out only what the item was worth at the time it was damaged.  In other words, you won’t be reimbursed for the cost of a new item.  Some companies will quote replacement cost or actual-cash value by default.

We, your professional independent insurance agent, are available to discuss your many coverage options … including additional coverage in case of flood, which renter’s insurance will not cover.

Call us at (856) 935-0845 or visit our website at www.hdyoung.com for additional information.

The information in this article is meant as a guideline only.  There is nothing in this article that alters the coverage or interpretation of any specific policy.  Because some statements are generalizations, and because different companies’ policies contain slight differences, please refer to your specific policy.  Call our office before making any judgements or decisions concerning your particular situation and coverage that may, or may not, apply.