As the weather cools down and snow approaches, you might start preparing for your favorite outdoor activities. And as an outdoor enthusiast, you may have really exciting possibilities for an adventure this winter. However exciting your plans may be, take a second to consider what could happen if your equipment gets damaged, stolen, or lost. Will your plans be ruined? If you take a trip, do you have the ability to repurchase the equipment there, and how much might that set you back? If your equipment is damaged, how soon can you get it repaired?
Many people are unaware they can protect their outdoor equipment against damage, loss, or theft. Outdoor equipment insurance is essential for any outdoor enthusiast looking to enjoy safe adventures in the great outdoors this winter and beyond. This article explains your coverage options for outdoor equipment insurance and why you should consider purchasing it as soon as possible.
What types of outdoor equipment can I insure?
High-net-worth individuals and outdoor enthusiasts take great pride in their sporting equipment for its monetary value and the joy and respite it brings them. If your equipment gets damaged (regardless of the season) and you lack adequate coverage, outdoor sporting activities will quickly go from fun and relaxing to aggravating. So, before you head out on future adventures, it's important to know what types of outdoor equipment can be insured and what is available in various insurance plans. Below are a few types of outdoor sporting equipment that may have insurance coverage options available.
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- Skiis
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- Snowboards
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- Snowmobiles
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- Bicycles
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- Camping gear
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- Snowplow
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- Tractors
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- Field equipment
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- Climbing equipment
Does homeowner's insurance cover outdoor equipment?
When choosing a homeowner’s insurance policy, you should look for one that offers extensive protection. Standard homeowner’s policies do not always protect you against damage caused by severe winter weather or other hazards. If you have outdoor equipment that you want to protect, you must select a policy that has extensive coverage for all of your belongings.
When purchasing insurance for your outdoor equipment, there are a few types of coverage to consider. The best option depends on your current situation and the main reason you want to insure your gear. Here are some of the most common coverage types to prepare for the upcoming months:
Travel Insurance
When purchasing winter equipment insurance, your thoughts might not turn to travel insurance—but if you love to travel in the winter on skiing or snowboarding trips, travel insurance is essential to protect yourself and your equipment.
Say you're hitting the slopes in Big Sky, MT, a trip you've been anticipating for months, and you damage one of your skis while also losing your ski pass. Travel insurance will help you cover the cost of your damaged equipment while on your trip, so you don't have to worry about coverage when you're miles away from home. Additionally, the right traveler’s insurance plan can help you recoup costs in the case of a lost or stolen snowboard or ski pass and help you in a medical emergency related to your vacation.
Winter weather is especially unpredictable, so if you plan to travel during winter or to a ski resort, it is essential that you prepare for any eventuality if you plan to take a trip this year or next.
If you have a vacation home, check out the featured blog, Vacation Home Insurance: Why You Need It & How to Get It.
Collision Coverage
If you own and operate outdoor equipment, it's crucial to have collision coverage for any potential damages in case of a collision. For instance, if you have a snowmobile as part of your outdoor winter equipment, collision coverage is crucial for any possible damages to your snowmobile if you collide with another object or if another vehicle collides with your snowmobile.
A good collision policy will include the cost of vital winter safety equipment for operating heavy machineries like your snowmobile, such as helmets and eye gear.
Comprehensive Coverage
If your outdoor equipment includes vehicles like a snowmobile, car, or tractor, you should consider policies with comprehensive coverage clauses. Comprehensive coverage is optional but crucial for the thorough protection of your outdoor equipment. This type of coverage protects vehicular damage not covered by collision clauses, including vandalism, accidents, theft, and acts of nature.
Personal Property Coverage
An insurance plan with personal property coverage is among the best ways to protect your outdoor equipment, as this coverage protects you if your belongings are damaged or stolen.
Ensure that your policy covers other personal belongings or related equipment like bicycles or camping gear. Not all policies cover expensive belongings, such as valuable collectibles or art. However, if someone breaks onto your property and confiscates your outdoor equipment, a thorough homeowner’s policy should have personal property coverage to help you replace the items.
Off-Premise ThEFT Coverage
Your insurance policy should have an off-premise theft coverage clause that protects you if your belongings located separately from your primary property are damaged, lost, or stolen. If you have sizeable outdoor equipment that you cannot feasibly store on your insured property, an off-premise theft coverage clause can give you extra protection for your outdoor equipment.
Typically, your off-premises insurance coverage is 10 percent of the personal property limit you’ll find on your current policy. This coverage also offers up to $500 of extra coverage for any unauthorized use of your credit cards. You can protect numerous possessions with a comprehensive off-premise clause offered in your homeowner’s insurance, including outdoor equipment.
If you worry that off-premise theft coverage won’t be enough to cover the cost of outdoor equipment that is more expensive or difficult to replace, you can increase your coverage through two methods. First, you might consider raising the limit of your liability. With this option, you will still have limited amounts available for your property and losses.
Your second option is purchasing a floater policy for your possessions. This option is costlier than raising your liability limit but will give you better coverage and protection for your valuable outdoor equipment. Purchasing a floater policy is the best way to protect your valuables, as floaters will cover any of your losses not included in your standard homeowner’s insurance policy.
Custom coverage designed for your outdoor equipment
Outdoor equipment coverage is essential to create a practical homeowner’s policy fit for any type of outdoor enthusiast. If you have outdoor equipment that needs extra protection this winter, Highline can help. Let us build you an insurance policy that addresses all your concerns, striking the perfect balance between cost and coverage to create the ultimate, personalized plan needed to protect you and your equipment, this year and every year. Contact Highline Risk Solutions today to prepare for a fun, exciting, and safe season.
