As an avid golfer, I have been asked this question many times. At least they are asking me what to do before a claim has occurred!
The Real Question
Will my current homeowners, condo, or tenants policy cover my golf clubs?
The Personal Property section of your home, tenant or condo policy covers your golf clubs. That is the good news.
The not-so-good news is that the deductible that you have on these policies will also apply. Let me explain further.
How Could A Claim Hurt Me?
Claims made against the Personal Property section can impact your Claims-Free discount upon renewal of your policy.
Let me give you an example of a typical claim:
Your clubs, bag and accessories are damaged in an insured loss. If you play with top line clubs (Callaway, TaylorMade, Titleist, Ping or a custom made set) the total value could be $1200 or more. You have a Personal Property deductible of $1000. After providing receipts of replacement, the payment made to you, less your Personal Property deductible, would be $200.
In this case, it may make sense to schedule your golf equipment on a Personal Articles Floater.
The Benefit of a Personal Articles Floater
A Personal Articles Floater is an excellent option, particularly if your golf equipment is of significant value and if your Personal Property deductible is high. With this, you will have the option of choosing a lower deductible on the Personal Articles Floater (as low as $50), which will apply exclusively to your golf equipment.
Another advantage is that any claims made against the golf equipment on your Personal Articles Floater will not affect the Claims-Free discount on your Personal Property policy.
What Happens If I Lose My Clubs While On A Trip?
No worries! Your golf clubs and your Personal Property are covered worldwide, while temporarily removed from your home. This means that you can have peace of mind while traveling on that ultimate golf trip with your pals.
What Happens If My Golf Clubs Are Stolen From My Vehicle?
Claims for your golf clubs and equipment are settled on your home, condo, or tenant policy, as they are considered Personal Property and are not typical of automobile equipment.
If your vehicle suffered any loss or damage from the attempt, a claim would be submitted on your Auto Insurance policy, if Physical Damage coverage is in place.
We Are Here For You
Some carriers may have slightly different terms and conditions; give us a call at Consultative Insurance Group and we will make sure that you have the right coverage for your golf equipment.