Wednesday, January 27, 2010

Specialty Toy Insurance is NOT Auto Insurance

To begin, let’s look at types of insurable “toys”: Motorcycles, Boats, Recreational Vehicles, Dune Buggies and Sandrails, All Terrain Vehicles, Side-By-Side Utility Vehicles, Modified Golf Carts, Golf Carts, Snowmobiles, Collector Vehicles, Travel Trailers and Personal Watercraft.
Why do all of these vehicle types need their own individual insurance coverage? Any vehicle issued a state registration needs to be properly insured. All 50 states have adopted the required minimum liability insurance requirements. In Arizona, the minimum liability limits are 15/30/10. Insurance is not designed to have one policy meet all vehicle needs. If you need a screwdriver you do not buy a hammer. Vehicle insurance is no different. A motorcycle policy is not designed to cover the insurance needs of a boat. ..............
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