The Ins and Outs of Golf Car Insurance

Insurance is certainly a very large and elaborate business. Whether you are dealing with homeowner’s insurance, renters insurance, business insurance, vehicle insurance, life insurance, or health insurance, the confusion and costs add up quickly. So, what is this that I hear about golf car insurance? Is this really necessary?

What Is Golf Car Insurance?

What would happen if your golf car was involved in a collision? Or if it was stolen from your yard or garage? If you have not yet invested in golf car insurance, you would likely be solely responsible for the replacement of your expensive golf car. When my golf car was stolen from my backyard, my homeowners insurance refused coverage and I lost the total value of my golf car. Golf car insurance comes in a few different forms, but it ultimately protects the investment that you have made in your golf car.

Endorsement. If you currently own homeowners or auto insurance through an insurance company that offers golf car insurance, you may request to add an endorsement rider to your existing policy. Costing only a few dollars per month, the rider will protect the full value of your golf car in the event of theft or an accident.

Auto. If your golf car meets the criteria of a low speed vehicle, your golf cart will qualify for auto coverage, similar to coverages obtained for a standard vehicle.

Umbrella. Golf car owners who frequently drive their golf cars throughout neighborhoods or on trails may consider umbrella insurance. This type of liability insurance protects the owner from claims and lawsuits arising from a golf car accident.

How Much Will Golf Car Insurance Cost?

The exact cost of the insurance policy will depend on the type of golf car you own and the way in which it is primarily used. If your golf car is used strictly on the golf course, a simple endorsement added to your homeowners or renters policy will suffice. The cost of the endorsement can be less than $1/month.

If your golf car is speed modified and driven on the street or if it is classified as a low speed vehicle (LSV), it may be necessary to purchase a standalone auto policy. These standalone policies can range from $12/month to $80/month depending on the modifications, use, and value of your golf car.
If your HOA requires that golf car owners carry insurance on their golf cars, policies that meet the HOA requirements are available for as low as $50/year.

What Will Golf Car Insurance Cover?

Depending on the policy you choose, insurance can cover the entire replacement cost of the golf car in the event of theft or an accident. However, some situations will void the policy. Read the policy carefully and avoid the following, which may void your insurance:

• Transporting an excessive number of passengers.
• Using the golf car for business purposes.
• Renting the golf car.
• Allowing the golf car to be driven by an unlicensed driver.
• Driving on roadways where golf cars are not permitted.

Whether your HOA requires insurance or you are simply interested in protecting your investment, I urge you to contact your current insurance company to receive a golf car insurance quote.