What Kind of Boats Need Insurance?

One of the most common questions boat owners ask is whether they need insurance, and what kind of boats require such insurance. Based on state law, you are not legally obligated to invest in boat insurance. However, you leave yourself susceptible to a number of issues if you fail to invest in such protection. Whether you live in Fisherville, KY or the surrounding communities, you’ll want to protect your boat. TruePoint Insurance can help. 

Consider What You Paid for the Boat

You do not legally need to have boat insurance to own a boat or even use it. However, first consider what you paid for the boat. Now think about what would happen if your vehicle is involved in an accident while driving it to the lake. Your auto insurance coverage does not protect your boat. This means even if someone runs a red light and crashes into your boat during transport, your auto insurance coverage will not pay for it. 

All Kinds of Boats Can Receive Coverage

If you’re able to take the vessel out onto the water, then it can be protected with a form of boat insurance. Whether you have a sailboat you’re taking down to the gulf, or you have a paddle boat you like to take out on the lake, all vessels can (and should) be protected with boat insurance. 

You are never legally required to obtain boat insurance. However, an accident on your way to the lake, on the lake, or even inside of your garage, may put your purchase at financial risk, and can even put you at risk of paying out due to liability issues. To find out what kind of coverage options are available for you in the greater Fisherville, KY area, you need to give the team at TruePoint Insurance a call today. 

Perils of Tailgating

High School FootballAutumn is noted for the color and delight found in the changing of the seasons! But change also arrives in the form of the colorful masses that gather and celebrate…..around football stadiums. It happens around high school games on Friday nights and on crisp cool Saturdays around colleges and universities. It happens on Sunday afternoons, Sunday Nights, Monday Nights and all the other times that they squeeze in days and times for professional football. From amateur to professional contests, upwards of 50 million people annually enjoy tailgating.

Tailgating refers to the custom of arriving to games many hours before the scheduled event’s beginning, Tailgating, reducing the risklowering vehicle tailgates and enjoying food, drinks and recreational activities! Tailgating began simply enough with socializing among folks who came to game locations early enough to secure scarce parking. The socialization was enhanced by food and drinks, then the events became more elaborate involving bring your own pitch-ins, barbecues, concerts, recreational sports, etc.

  • Sadly, most activities that involve large crowds are too frequently accompanied by various dangers. Of course, it makes sense to reduce the chance of injury or loss by taking precautions such as the following:
    Avoid using breakable containers for beverages or for any food service items. Dropping items is unavoidable and glass shards can cause serious injuries during a time where getting quick medical assistance can be difficult
  • Carry a well-stocked, comprehensive first aid kit, especially to handle burns, dehydration, sunburns, cuts, and bruises
  • Restrict games and activities to larger, clear areas that minimize the chance of injury to non-participants
  • If games or activities are near high-traffic areas, use spotters, persons situated to warn those passing by such areas.
  • Be very careful with cooking areas, never leave them unattended, keep them away from pedestrians (especially children) and be sure to have safety gear, such as fire extinguishers
  • Keep an eye out for thieves who often target unlocked vehicles for valuables

It is also very important to make sure that you are properly insured to handle possible damage or loss of your property. It is far more important to carry insurance coverage to protect you for injury or loss you may cause to others. Tailgating can be enormous fun, but with great fun comes great responsibility. Protect yourself and others.

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Does My RV Insurance Protect Me When I’m Out of State?

RVs mean time spent with family and friends on the open road. They represent adventures and the opportunity to develop lasting memories of time together. Just as you are required to insure your regular vehicle, you are also required by law to carry insurance on your RV. The situation that an RV represents is different than a normal vehicle and your insurance needs will also be different as well. Consider this; an RV is both a vehicle and a vacation home. When you are looking at various insurance options, it’s important to consider the pitfalls that you could encounter while you are away from home. The team at TruePoint Insurance serves the needs of residents around the Fisherville, KY area. They understand the unique challenges that RV owners face and can show you the options that are available to you.

Policy Options

Just like an auto policy, an RV policy can provide comprehensive, collision, and liability coverage. It will go further to provide coverage for the contents of the RV including equipment such as satellite dishes and awnings. It can also provide protection from accidents involving uninsured or underinsured motorists. You will want to make sure that the policy that you select also provides some roadside assistance. If it is not your primary residence and remains on your property most of the year, there may be discount options available. Talk with your agent at TruePoint Insurance about potential savings if you only use the RV for a limited amount of time during a year. If you are in the Fisherville, KY area, feel free to stop by our office to discuss a policy and get a quote. Get ready to hit the road with TruePoint!

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Boatowners Coverage

The insurance approach for covering boats and boating property is quite like what is used to protect cars Boat Insuranceand homes. Essentially insurance is offered on a package basis, meaning that there is coverage for physical property as well as protection against the legal and financial consequences of injuring others or damaging property that belongs to others.

Watercraft Insurance

Property Coverage РTypically a boatowners policy covers:

  • Boats – Refers to property designed to travel on water and includes sails, its permanent equipment, spars and fittings.
  • Boating Equipment – Includes a wide variety of property that is used in conjunction with boats and it includes accessories. Items considered as equipment are property used for communication (radios), navigation, sonar, radar, outboard motors, dinghies, skis and sports equipment (recreational flotation devices) that are towed by boats and similar property. As a rule of thumb, the more related an item is to the ownership and use of a boat, the greater the justification to classify it as boating equipment.
  • Boat Trailers – Trailers used (and designed) for transporting boats (as defined by the policy).jet ski insurance

This property must be owned by the person who is named as the policyholder. There are limited instances when such property that is temporarily in the policyholder’s possession also qualifies for coverage.

Items and situations that aren’t covered include boating property that is used in business activity, losses that involve races or competitions (an exception is made for sailboats) and boats that are used, full-time, as residences.

Liability Coverage РBesides protecting boating property, a boatowners policy also responds to claims or lawsuits caused when another person is injured, and /or when another person’s property is damaged or destroyed. An example would be a collision where the owner of a large speedboat collides with a person on a jet ski, seriously injuring the rider and demolishing the jet ski. The policy would handle both portions of such a loss. The liability portion would also provide a legal defense against lawsuits.

Another important coverage under the liability section is medical payments. This provides reimbursement for, typically, emergency or immediate medical treatment expense. Consider a person who slips on a boat deck and needs transportation to an emergency for treatment of a broken bone or concussion. Such costs would qualify under medical payments.

As is the case with property coverage, there are liability situations that are NOT covered by a boatowners policy, including losses that involve business activity, transmission of communicable disease, unauthorized operation of boating property, intentional acts, and criminal activity.

Boating property is a substantial investment and boatowners coverage is an efficient, affordable way to guard against accidental losses.

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What’s the biggest exposure for homeowners?

Tree falls on neighbor's houseIf you‚Äôre like most, replacing your home and personal property are the primary reasons for purchasing a homeowners insurance policy.¬† While that is important, insuring your property may not be the most important coverage offered by your homeowners’ insurance policy.child injured on trampoline

What would happen if a tree fell on your house during a windstorm and damaged your home?  After you meet your policy deductible, your homeowner’s insurance policy would cover the cost of repairs.

 

What if the wind had been blowing in the other direction and instead of crashing through your rough, your neighbor’s home is the one damaged.  In most cases, your neighbor’s insurance would cover the damages to his house.

However, there are cases where you are liable.  If the tree was dead, dying, diseased or unstable you could be on the hook.  If you are cutting the tree down, you are liable.

What’s your liability exposure?  We don’t know!  What should your liability limit be?  It depends!

The job of the insurance agent would be fairly simple if you were only getting property coverage.  How much is your house worth, how much personal property coverage would you like, and what causes of loss do we need to protect against.

Liability exposures are much more difficult to define.  How much will it cost to repair/replace your neighbor’s home in the example provided above?  Do you have adequate personal liability protection?

While the claim to repair the neighbor’s home could be very significant, relative to other potential liability exposures, this would be small.  Kids open the door to much larger exposures when their invited and even uninvited friends have access to your pool, trampoline, treehouse, fireworks, go-carts, and more.  How much coverage would you need if an injury or death occurred on your property due to your negligence?

Take some time to review your homeowner’s policy.  The limits on your home will most likely exceed the value of your home and personal property.  Can you say the same about your liability limits?  Finally, speak to a qualified insurance broker that can provide you guidance.  The last thing you need is for someone that can sell you insurance, what you truly need is an individual that can work with you in developing a compressive risk management plan.

 

Golf Carts: Cute, Handy…..Dangerous

Golf cart on courseAt one time golf carts were seen exclusively on golf courses. Then, since golfing is part of the sports world, other sports saw their usefulness, so carts popped up along the sidelines of football fields and near baseball dugouts, shuttling players about. Today, many more people are aware of the non-sports usefulness of golf carts…..and that is becoming a problem.

Increasingly, more exceptions are being made regarding golf cart use. At first they could be used on areas close to golf courses, then retirement communities made exceptions, then gated and other, larger property-owner communities allowed their use. Now, exceptions are being made for their limited, public street use in small towns, college communities and in other situations.

The increased use of golf carts means the increased number of golf cart accidents. Such incidents are a particular concern since they may involve elderly drivers who may have impairments or slower reaction times. Further, golf carts are popular with very young, frequently unlicensed drivers who may lack care and experience in operating golf carts safely.

 

Pairing up golf carts with higher risk operators creates a high-risk situation. Consider several features of golf carts:

  • Lightweight
  • Open vehicles without roll bars
  • Low clearance
  • Rigid frame construction
  • Capable of deceptive speed (some models can reach 25 mph)
  • Do not include seat belts

While carts are ideal for traveling along fairly level, soft-surface areas; their features and design make them quite hazardous on other surfaces. Some golf carts can move at higher speeds, but their low clearance and rigid structure make them prone to rollovers. While carts are relatively light, they still are easily heavy enough to cause serious, even fatal injury to persons trapped beneath them. It also makes a Golf Cart used in competitive driving tremendous difference being in an accident on a grass surface as opposed to an asphalt, gravel, packed-dirt or cement road. Some accident statistics reveal that golf cart accidents often involve children who are hurt when flung from carts during turns.

Another issue with golf carts is that there is no consistent regulation regarding their use and safe operation. The real issue is awareness! Persons who own and use golf carts away from courses should be careful about how they operate such vehicles, who are allowed to drive and ride in them and what safety procedures must be used to minimize accidents. No matter how cute, easy-to-operate and economical they are, golf carts are motorized vehicles that can cause serious loss and injury. Use them with care!

COPYRIGHT: Insurance Publishing Plus, Inc. 2016

All rights reserved. Production or distribution, whether in whole or in part, in any form of media or language; and no matter what country, state or territory, is expressly forbidden without written consent of Insurance Publishing Plus, Inc.

Meet Your TruePoint Customer Service Team

http://www.insuringky.com

 Welcome to Truepoint insurance. We are insuringky.com

Thank you for choosing us for your insurance needs! It is our commitment to provide our clients with quality insurance products at a great price, and we are so pleased to have you as a new customer! As you may have already discovered, we offer real-time quotes on our website, payments over the phone, and E-signature options for most documents. Did you know you can also print ID Cards directly from our website? Of course, we always enjoy meeting and seeing our customers face to face! However, we understand your time is valuable, so we offer electronic options, as well as two office locations in order to accommodate your schedule. We have expanded our service team, as well, and look forward to helping you protect what is valuable to you!

OUR SERVICE TEAM:

 

 

Fisherville, KY Insurance           Insurance Lawrenceburg, KY TruePoint Insurance

6287 Taylorsville Rd.             1085 Eagle Lake Drive

Fisherville, KY  40023           Lawrenceburg, KY  40342

CSR TruePoint Insurance, Fisherville                         PHONE: (502)410-5089                                                          Insurance Lawrenceburg KY, Home Auto Business

 

Jordan Milburn, ext. 105                                                                                                                                     Jessica Coleman, ext. 120

Licensed Service Specialist                                                                                                                                   Director of Client Services

CLIENT LIAISON                                                                                                                                              ACCOUNT EXECUTIVE

jordan.milburn@truepointgroup.com                                                                                                               jessica.coleman@truepointgroup.com

Jordan will likely be your first point of contact when you call. She is a licensed P&C Agent, and her primary responsibility is to ensure your satisfaction. From providing proof of insurance, taking payments, and processing policy changes to quoting/issuing new policies, she can often handle your requests quickly and efficiently (or direct you to the most effective resource available).

Jessica will be in the Lawrenceburg office from 8:30-4:30, M-F. She will coordinate with Jordan to ensure our agency is meeting the needs of our clients. As the Director of Client Services, she will be happy to review your policy at each renewal, and make sure you are receiving all of the discounts and coverage options available to you. You can call or email her to schedule your personal policy review. Also, if things change in your life (and they usually do), don’t forget to call and tell us! We want to keep you covered correctly! And if the worst should happen, and you need to file a claim, Jessica will gladly help you through the filing process for the quickest resolution possible.

They are both committed to giving you amazing service, and looking forward to working with you.

Please let us know if you have any questions about your new policy, or if you would like for us to quote another type of insurance for you. We appreciate your business!

Sincerely,

 

Brad and Kristen Smith

P.S. If you are happy with your service, Like, Share, or Leave a Review!  We’d love to hear your thoughts!

Homesharing ‚Äď Part 2

Homesharing has been a ‚Äúthing‚ÄĚ for years and its use is growing along with internet applications that facilitate transactions involving making a residence available for short-term rentals. Standard homeowner policies have long been issued under the assumption that a covered residence is usually occupied by the named insured and that person‚Äôs family on a full-time basis.

While insurance policies issued for homes, condos, and apartments do contemplate some situations involving other persons staying in a residence, those situations are allowable when they don’t involve financial transactions. Renting for income alters a residential situation into a business. Business activity creates a coverage problem which could result in policies being canceled or claims being denied. Renting all our part of a residence also results in types of losses that are uncovered because they haven’t been contemplated as insurable, residential activities.

Policy wording may exclude coverage for losses when they are directly related to a business. So, protection may be lost for the residence, residential property as well as for liability for damage or injury to others and their property.

Basic HO policies, if they don’t outright exclude losses involve compensated rentals, severely restrict other coverage. However, due to the rising popularity of homesharing, the insurance market is responding with options to provide more protection. A basic policy may be amended to extend protection which does the following:

  • Extend eligibility of a rented residence to continue to qualify for all policy protection
  • Add protection for household contents that might be damaged or destroyed during rentals
  • Extend medical payments coverage to insureds who may be injured by renters
  • Loss of income specific to homesharing activity
  • Add liability coverage for injury to third parties that occur during rentals

However, this additional protection may still fall short of what is needed. The insurance market is now making broader coverage available that handles less common exposures such as ID theft resulting from homesharing, pest infestation caused by renters, liquor liability coverage arising from alcohol served during rentals, extra cost caused by excessive use of utilities, or personal and advertising liability.

Even with special coverage for homesharing, property owners should also be aware of consequences and cost of resolving issues such as breaking local zoning laws, violating residential association bylaws or legal costs of dealing with squatting situations. Homesharing is a popular component of the sharing economy, but participants need to be careful to get proper protection.

 

           Return to Part 1

 

COPYRIGHT: Insurance Publishing Plus, Inc. 2018

All rights reserved. Production or distribution, whether in whole or in part, in any form of media or language; and no matter what country, state or territory, is expressly forbidden without written consent of Insurance Publishing Plus, Inc.