| Regardless of the time of year, recreation plays a | | | | When your equipment is scheduled, it also has a |
| prominent role in our lives. Whether we're hitting | | | | set dollar value assigned for replacement, which |
| the slopes or hitting the links, whether we're sailing | | | | means depreciation is not a factor. You won't |
| or water skiing, we love to get out and enjoy life. | | | | have to worry about haggling with a claims |
| And the toys that help us enjoy life become | | | | adjuster over what each of you believes it will |
| more expensive as our disposable income grows. | | | | cost to replace your water skis. |
| That new set of Callaway golf clubs, those K2 | | | | You can endorse a number of recreational toys |
| skis, or a 25-foot sailboat not only bring you | | | | onto your homeowner's policy for a nominal |
| pleasure, but also put a small dent in your wallet. | | | | charge, including golf clubs, snow and water skis, |
| So have you taken the extra step of protecting | | | | hunting rifles, mountain and racing bikes, and |
| your recreational investments? | | | | camera equipment. The small additional cost will |
| If you own expensive recreational toys, I | | | | save you a fortune in frustration in the event of |
| recommend you speak to your personal insurance | | | | a loss. |
| agent about taking out a special articles floater, | | | | Even smaller boats can be included on your |
| commonly called "scheduled personal property." | | | | homeowner's policy; every policy is different, but |
| Why should you pay extra to specifically insure | | | | a rule of thumb is a maximum $2,000 value for |
| these items? Doesn't your homeowner's policy | | | | your boat, including the motor. The same goes |
| already cover them? Yes, but read the fine print. | | | | for the trailer. For your larger investments, such |
| First, these items are subject to your deductible, | | | | as a ski boat or sailboat, you need to take out a |
| which might range from $250 up to $1,000 or | | | | boat owner's policy that will not only protect your |
| more. That's money straight out of your pocket | | | | boat, motor, trailer, and onboard equipment, but |
| if you suffer a loss. Second, your policy might | | | | will also provide liability coverage. Your lending |
| contain a theft limitation, such as for firearms | | | | institution might have already required you to do |
| (take note, sportsmen). Finally, if these items | | | | this, but make sure that the values assigned for |
| aren't named on your policy, you risk being | | | | the hull, motor, and any ancillary equipment are |
| disappointed in the replacement value a claims | | | | adequate. |
| adjuster might determine for your equipment. | | | | For those of you who own other types of |
| The advantage of naming (or in insurance jargon, | | | | recreational vehicles not licensed for road use, |
| scheduling) your recreational equipment is that the | | | | such as snowmobiles, golf carts, and dirt bikes, |
| property deductible is waived and the coverage is | | | | most insurance companies will offer a recreational |
| broadened. About the only things that won't be | | | | vehicle policy to meet your needs. It works just |
| covered are wear, tear, and war. So even if you | | | | the same as the boat owner's policy. |
| lost your $600 Big Bertha driver in the lake (it | | | | Take stock of the investments you've made in |
| just slipped out of your hands, right?), your | | | | your family's fun and games. Then do just what |
| insurance would replace it. Your unendorsed (that's | | | | you do for your home and your car: Preserve |
| insurance gibberish for regular) policy, however, | | | | your assets and your money with the best |
| covers only the classic losses most of us | | | | possible insurance protection. Don't allow bad luck |
| associate with insurance, like theft, vandalism, and | | | | to take the fun out of your recreation. |
| fire. | | | | |