What Type of Insurance Do You Need for Your Recreational Needs?
Posted on Dec 27, 2019
As a society today, we believe in working hard and playing just as hard. We love to live out loud and outdoors. Whether your interests lean towards hunting, camping, fishing, or boating, your “toys” are investments in your recreational happiness.
It’s important to protect those investments with the right kind of insurance.
RV Insurance and Why It Matters
RV insurance is essential if you own a camper. The typical RV presents unique challenges when it comes to the insurance process. That is why it warrants its own individual protection. In fact, how you use your camper or RV may require additional riders and protection as well.
For instance, if your camper is one you drive, you will also need a policy that offers the following protection in addition to basic or general liability and personal property coverage:
- Bodily injury and property damage liability
- Uninsured or underinsured motorist
- Comprehensive coverage
- Collision coverage
- Personal property protection
These are just the basics for getting your RV or camper on the road. You’ll also need a few specialty types of coverage, including:
- Personal effects coverage
- Vacation liability coverage
- Custom equipment protection
- Replacement value protection (in case your RV is a total loss)
Some people even elect to include roadside assistance as part of their RV insurance packages. If you choose to live in your RV, then your insurance needs will change once again. Don’t forget, though, if you winterize your RV during the cold winter months, you may qualify for discounted insurance rates for the time it isn’t on the road.
Boats and Personal Watercraft Coverage
New Jersey has many winding rivers and waterways for families to enjoy. There are many types of boats on the water, and most of them require insurance protection. It’s not only about protecting you and your family from financial losses if these items are damaged, stolen, or destroyed. Boat or Personal Watercraft Coverage (PWC) insurance is also about protecting you from liability claims if someone is injured while on your watercraft or by your watercraft.
There are some special types of insurance you’ll need for your boat as well, including the following:
- Salvage Insurance. While salvage, pulling a sunken boat out of the water, is covered by many insurance policies, it only covers between 10 and 25 percent of the costs. Anything more than that will be up to the boat owner unless you purchase a policy that specifically covers the costs of salvage.
- Consequential Damage Insurance. This type of protection covers the costs of consequential damage that may cause your boat to sink (thereby nullifying traditional insurance coverage for salvage), that will help you recover your sunken vessel.
- Fuel Spill Pollution Coverage. This is one of the most important types of insurance you can purchase for your boat. It will help to cover the costs of cleaning up pollution that results if your boat sinks and fuel leaks into the waterways. You need to read carefully to see whether the cause of the spillage must be a covered loss to qualify.
Don’t forget liability protection. In the case of boat ownership, additional liability protection is wise, as is umbrella liability protection. There are too many variables that can result in extremely high liabilities in the event of an accident, injuries, or death.
Snowmobiles and ATVs Insurance Coverage
Liability insurance is required for snowmobiles in New Jersey, and while it is not required for ATVs, it is a wise investment to consider.
Liability insurance for snowmobiles and ATVs protects you from the financial fallout of accidents causing injuries or property damage. You will need additional insurance protection to cover your financial investment and personal losses related to injuries, damage to your property, and the theft of your favorite new toys.
Otterstedt Insurance Agency understands New Jersey residents and your love of recreational vehicles.
Contact us today to learn more about how you can protect your investments and overall financial interests with the right kinds of insurance for your recreational vessels, whether they are on land or water.
See for yourself why we’ve been insuring New Jersey and beyond for the past 100 years.
