Higher price on LSV insurance

[mrdills]

I received a letter in the mail yesterday that my LSV cart insurance will be going up on my next renewal date. I had to call my insurance company, they said it would cost the same amount for my golf cart that I was paying for my cars, will I don't know if you want to hear what I told them but if wasn't good. Its just another Government law to make money on stupid things. I guess what I don't understand is that you can ride a motorcycle without a helmet or insurance its fine, but when you have to pay the same amount as a car thats not acceptable to me. I can't wait until they start enforcing the seat belt laws on regular golf carts and charging more for insurance. There is alot of holes in there thoughts but we will wait and see what happens. Has anyone else gotten a letter from there insurance company?

[pooh]

I received a letter in the mail yesterday that my LSV cart insurance will be going up on my next renewal date. I had to call my insurance company, they said it would cost the same amount for my golf cart that I was paying for my cars, will I don't know if you want to hear what I told them but if wasn't good. Its just another Government law to make money on stupid things. I guess what I don't understand is that you can ride a motorcycle without a helmet or insurance its fine, but when you have to pay the same amount as a car thats not acceptable to me. I can't wait until they start enforcing the seat belt laws on regular golf carts and charging more for insurance. There is alot of holes in there thoughts but we will wait and see what happens. Has anyone else gotten a letter from there insurance company?


Does seem a bit high, but the cart is registered and can be driven on roads where automobiles are....however not on all roads. Have you used this company for a while? Guess I'd be searching for another company. Time to get quotes from other insurance providers.

[getdul981]

When I used to ride a motorcycle, the insurance was dirt cheap. I asked the agent why that was and he told me that if I have an accident and run into something, it wouldn't do as much damage as a car would, so the insurance is cheaper. I would assume the same would be true of a golf cart, plus they don't go nearly as fast as a car, so the potential for damage is much less.

[erictarleton]

We had a similar problem and it all depends on whether the LSV can go more than 20 mph.

If it does not change your broker. We got two Allstate brokers one of whom treated our <20mph LSV as a car and another who treated it as a golf cart. Guess who we went with!

Eric

[EdV]

In this thread of a year ago https://www.talkofthevillages.com/forums/showthread.php?t=24965&highlight=tomberlin I warned you that your LSV insurance was going to take a big jump, but you chose to ignore it. Here's what I told you back then:

"Well Mrdills, I called the State Farm agency phone number that you pm’d to me and spoke with an agent named Brenda. She said the Florida insurance laws were changed recently and they can no longer issue those low cost 1 year LSV policies like they used to. Registered LSV’s must now be insured with regular vehicle 6 month polices and at a much higher rate.

When your existing policy comes up for renewal, you’ll be getting a regular vehicle 6 month policy and you can probably figure on around $400 per year for basic coverage.

She also suggested that you call your agent for an update. "

[spk7951]

I recently played golf with a couple who have an LSV and they said their new policy was around $600 per year. That is almost what it costs for my car.

[mrdills]

All LSV's insurance will go up that includes Gem carts also.

[collie1228]

Our nanny government is helping us again. Nice tax break - not so nice fallout from the insurance companies.

[bimmertl]

Our nanny government is helping us again. Nice tax break - not so nice fallout from the insurance companies.

It's the Florida Financial Responsibility laws. Being street legal means you have to be registered and subject to the FR law which requires you purchase PIP (Personal Injury Coverage) for the vehicle. Minimum PIP is 10K in medical coverage on the vehicle in addition to the standard liability coverages.

There are multiple PIP packages some of which include a wage loss component. So if you are retired and have other available medical coverage, make sure you get the minimum amount of coverage required. (10K in meds, no wage loss component) Even if you have other available medical coverage available you still have to buy the PIP coverage. It's a ridiculous requirement.

[JimJoe]

How is home insurance lately in TV? I heard awhile back that it was raised, and recently again some premiums saw a bigger increase than usual. How does it compare to the north?
JJ

[DENNIS G]

If your cart or LSV isn't properly documented and you are involved in an accident, your insurance may refuse to pay. LSV is defined as an electric vehicle whose speed is 20+ mph and meets other state requirements are required to be registered and ALL DRIVERS must have a VALID DRIVER LICENSE. If you are registered and have a plate, the insurance must be a vehicle type policy $$$$. Policies that are for 19.6 mph or less are recreation types $.:police:

[jebartle]

I received a letter in the mail yesterday that my LSV cart insurance will be going up on my next renewal date. I had to call my insurance company, they said it would cost the same amount for my golf cart that I was paying for my cars, will I don't know if you want to hear what I told them but if wasn't good. Its just another Government law to make money on stupid things. I guess what I don't understand is that you can ride a motorcycle without a helmet or insurance its fine, but when you have to pay the same amount as a car thats not acceptable to me. I can't wait until they start enforcing the seat belt laws on regular golf carts and charging more for insurance. There is alot of holes in there thoughts but we will wait and see what happens. Has anyone else gotten a letter from there insurance company?



We have Safeco and insurance on our street legal is $101/yr and we just renewed....They didn't say anything about an increase.

[downeaster]

We have Safeco and insurance on our street legal is $101/yr and we just renewed....They didn't say anything about an increase.

Does your insurer know it is street legal? Is it registered?

$101.00 per year seems low for an LSV. The insurer may think they are insuring a golf cart.

If it were me, I would clarify this with the insurer. If you have an accident and find it is insured as a golf cart the insurer may have the right to deny the claim.

[jebartle]

Does your insurer know it is street legal? Is it registered?

$101.00 per year seems low for an LSV. The insurer may think they are insuring a golf cart.

If it were me, I would clarify this with the insurer. If you have an accident and find it is insured as a golf cart the insurer may have the right to deny the claim.

Yes, on both questions...We were VERY specific that this WAS a street legal cart and we have registered cart..

[EdV]

I’m sorry to tell you that your agent is making a big mistake and in the end it could cost you tens of thousands of dollars.

Take a close look at the policy you receive and answer these questions:

1. Does the title of the policy say ‘Off Road Vehicle Insurance’? If it does, it’s the WRONG policy.
2. Does the policy have a section with coverage for ‘Personal Injury Protection (PIP)? If there is no coverage for this, it’s the WRONG policy.
3. Is the term of the policy 1 year? If it is, it’s the WRONG policy because regular motor vehicle policies in Florida (including LSV’s) are for 6 months only.

And remember that regardless of what some mindless clerk in your agent’s office told you, it’s your responsibility to review the policy and understand the basic terms and conditions of it. Unfortunately, few people bother to even glance at their insurance policies, let alone try to understand it.

[BogeyBoy]

I’m sorry to tell you that your agent is making a big mistake and in the end it could cost you tens of thousands of dollars.

Take a close look at the policy you receive and answer these questions:

1. Does the title of the policy say ‘Off Road Vehicle Insurance’? If it does, it’s the WRONG policy.
2. Does the policy have a section with coverage for ‘Personal Injury Protection (PIP)? If there is no coverage for this, it’s the WRONG policy.
3. Is the term of the policy 1 year? If it is, it’s the WRONG policy because regular motor vehicle policies in Florida (including LSV’s) are for 6 months only.

And remember that regardless of what some mindless clerk in your agent’s office told you, it’s your responsibility to review the policy and understand the basic terms and conditions of it. Unfortunately, few people bother to even glance at their insurance policies, let alone try to understand it.

I'm not sure where you get your information, but by coincidence I just renewed my auto policy. I double checked - it is clearly for one year.

[zcaveman]

I'm not sure where you get your information, but by coincidence I just renewed my auto policy. I double checked - it is clearly for one year.

I agree. My auto policy has always been on an annual basis. Some insurance companies make you pay the policy on two six month installments. Maybe that is what you are looking at.

[downeaster]

Yes, on both questions...We were VERY specific that this WAS a street legal cart and we have registered cart..

I hope when you checked with your insurer you didn't consider your agent as the "insurer". The terms of the policy prevail regardless what the agent claims.

I will amend my advice and second EdVinMass's advice. Read your policy thoroughly.

Whether the premium is for one year or six months, it sounds too low for a registered LSV. In fact, some golf cart premiums are pushing $100.00. As insurers gain more experience insuring golf carts in "golf cart communities" we may see even more increases.

[pooh]

..... In fact, some golf cart premiums are pushing $100.00. As insurers gain more experience insuring golf carts in "golf cart communities" we may see even more increases.


Just got mine this week. It is indeed over $100 for my golf cart. $101 for an LSV just seems wrong....for a year, too.

[GatorFan]

When in doubt, talk to Susan at the Sumter County Tax Collectors office on Hwy 466. If you do not have the proper insurance, you could be in a world of financial trouble if you have an accident. Is it really worth the risk to lose everything you worked so hard for all your life? LSV's are not a golf cart and if your policy does not have a charge for personal injury protection (Florida no fault) you have the wrong policy by Florida law.

[784caroline]

Why wold someone in the Sumter County tax Collectors Office be an expert on Insurance matters ???

[EdV]

Just talked with my Allstate agent about the ‘6 month issue’. He said that most of the major insurance companies in Florida only issue 6 month auto policies but that there may be some exceptions to that rule, so I stand corrected on this.

But what I don’t understand is how this is getting by the clerks at the DMV. When you register your LSV and get license plate, they should be verifying that you have the PIP coverage and that it is a regular vehicle policy.

I and I’m sure many other LSV owners would love to know of a legitimate LSV policy for even $200 or even $250 for that matter.

[784caroline]

My bet is the owners of the LSVs are NOT registerig them and driving them not on the roads but as if they were golf carts. May be very short sided in the long run.

[GatorFan]

The tax collections office can tell you by serial number if you have a golf cart or LSV. If they confirm LSV then by Florida Law you must register and put a license plate on vehicle. Even if you drive like a golf cart you need the correct insurance or you will pay out of your pocket. LSV's by Florida law are required to have no fault insurance.

To answer your question how does it get by DMV? If you renew by mail you verify with your signature that you have required insurance. You only have to give them the name of your company and policy number.

The VHA's golf cart safety meeting is tomorrow at Savannah Center 10:00. Representatives from law enforcement are always there and will be happy to answer all your questions. If you can not attend tomorrow, they have a meeting the 3rd Wednesday of every month.

[RVRoadie]

This is really pretty simple. Look at your auto policy. If your LSV is listed as a motor vehicle with a VIN number along with your other vehicles, you are covered properly.

If your LSV is listed on anything other than an auto policy, it is not correctly insured.

It would be interesting to compare what is actually covered in a Golf Cart policy verses an LSV Auto policy. Maybe it would make sense to drop some things from LSV coverage, maybe uninsured motorist. Anybody know what a Golf Cart policy covers in this respect?

[gongoozler]

How is home insurance lately in TV? I heard awhile back that it was raised, and recently again some premiums saw a bigger increase than usual. How does it compare to the north?
JJ

I pay about half of the amount I paid on my home in New England . . . the value of my Florida home is about 2/3 of the value of my home up north!

[morancheryl]

Unfortunately, most local insurers are ignorant on on the topic of golf cart insurance. My husband and I have studied and served the community for 25 years in insurance interpretations. Here are the facts (I AM LICENSED IN FLORIDA TO PRACTICE INSURANCE AND ALSO HOLD A MASTERS IN INSURANCE)

1) If your cart is licensed and registered for the road as a LSV, you must pay for PIP Florida auto insurance. In otherwords, pay the same as a car. The risk is the same as a car and Florida requires no-fault and PIP coverage. Should you get into an accident or pulled over with your LSV, you will be required to show an insurance card sepcifically listing Bodily Injury.

We then checked with all of our LSV owner friends and found that 50% of them had the wrong insurance even though they consulted their agent! Not only could you get fined, you will be assessed for not having insurance and face suspension of your driving licenses and violations. IT IS UGLY!

We called numerous insurers and believe it or not, we originally bought the wrong policy. The agent had no clue despite the challenges that we presented. When we read the insuring agreement, we called the agent and guess what? They gave us a refund and advised us that they could not insure a LSV.

In our experience, there are only two carriers that can handle the golf carts that are LSV. They are Allstate & State Farm. Progessive, Geico, etc. do not write the LSV policy although they have golf cart policies. We went on a major search, and through much work found that we can only do as good as about $400 a year. Your driving record will effect your rates too.

2) If you are not in a registered and licensed golf cart, then the separate $75- $100 policy is ok. DO NOT ASSUME THAT YOUR HOMEOWNERS POLICY AND ENDORSEMENT WILL COVER YOU! As soon as you leave your property, no coverage! Buy a separate policy!

3) Folks who have villas etc and rent them out including a golf cart, look out. This is a gap in all golf cart policies! There is not any coverage available for golf carts that are part of rental agreements. Sensitive subject, but read the insuring agreements. LIABILITY IS UGLY! I recommend to fiends that they have the guests rent a cart from a specialty company rather than take the risk that can lose them their retirement lifestyle. NOT WORTH IT!

LASTLY! BUY AN UMBRELLA POLICY! PROTECT YOUR RETIREMENT FUTURE!

[cunch]

Just recieved my renewal from Hartford AARP and it is still 243.00 per year. My motorcycle is 156.00. Go fiqure!

[784caroline]

Morancheryl

I agree with everything you say ESPECIALLY about not insuring your golf cart as part of your homeowners policy. What if you have an LSV but it is NOT licensed/ registered for road use and you simply use the LSV on the golf carts paths at speeds less than 19.5 MPH. Would that qualify as an unlicensed golf cart??

The bigger question is how do you insure a golf cart that has the capability of going more than 19.5 MPH?

[BogeyBoy]

Morancheryl

I agree with everything you say ESPECIALLY about not insuring your golf cart as part of your homeowners policy. What if you have an LSV but it is NOT licensed/ registered for road use and you simply use the LSV on the golf carts paths at speeds less than 19.5 MPH. Would that qualify as an unlicensed golf cart??

The bigger question is how do you insure a golf cart that has the capability of going more than 19.5 MPH?

I think it would be impossible to operate the LSV legally without it being registered. How would you get from your driveway to the golf cart path? At some point you are going to have to drive on a road.

If a vehicle is capable of going more than 19.5 by Florida vehicle code definition it is no longer a golf cart. (I think the law actually defines a golf cart as a vehicle that cannot exceed 20 mph)

[gongoozler]

This is really pretty simple. Look at your auto policy. If your LSV is listed as a motor vehicle with a VIN number along with your other vehicles, you are covered properly.

If your LSV is listed on anything other than an auto policy, it is not correctly insured.

It would be interesting to compare what is actually covered in a Golf Cart policy verses an LSV Auto policy. Maybe it would make sense to drop some things from LSV coverage, maybe uninsured motorist. Anybody know what a Golf Cart policy covers in this respect?

I have my LSV insured with USAA (military officrs) and the policy is exactly the same as those on my two autos . . . the only difference is that the cost . . . the LSV has a $50 deductable on Collision and cost only $2.05 verses $68 for my other two cars with a $1,000 deductable. The Comprehensive is $3.88 on the LSV verses about $20 on the two cars . . . Bodily Injury Liability (100k,300k), Property Damage Liability (25k), Uninsured Motorists Bodily Injury (100k,300k),and Personal Injury Protection (10k) bring the total bill on the LST to $68.90 for six months of coverage.