Thinking of renting a recreational toy such as, a snowmobile, jet skis, snowboards, a motorboat, RV or an ATV? While these "toys" offer hours and hours of family fun, there are some gaps in insuring these rented toys that you need to be aware of.
One insurance gap when you rent a recreational toy is that you are held liable for any injuries or property damaged caused by you to other people or their property. You are also accountable for any damage caused to the rental while it is in your possession. In some cases, as specified by your rental contract, you are responsible for damages to the recreational rental even if you did not cause the damage.
It is important if you rent these toys occasionally, for you to ensure that your umbrella policy offers coverage for these gaps. When you rent a boat, you need to pay close attention to your umbrella coverage because often, coverage is limited. For instance, if the boat you are renting has a high horsepower or is longer than the length limit, it may exceed the special exclusions stated in your insurance agreement, causing a gap in coverage. You can avoid this coverage gap by paying special attention to the coverage on your umbrella policy and purchasing an umbrella policy that does not have length or horsepower restrictions.
Before you rent a fun recreational toy, it is important to make sure that you are aware of any possible insurance gaps involved. Set your personal umbrella policy to cover any gaps and then you are all set. Get out and have some fun!
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