Golf Cart Insurance Skyrocketing.
 

I just got my renewal from Foremost and they want $78 more on top of the $309 I was paying them for a 2023 Yamaha with no claims filled.

Progressive wants $279 on a 10k/20k plan with comprehensive and $1000 deductible.

Geico won't do insurance on a golf cart unless it registered with the state.

The value of the cart drops significantly in the first year so I don't understand a 75% increase from last year.

Anyone know of any reputable golf cart insurance companies with competitive pricing.

I have an impeccable driving record, great credit and never filed a claim in my life for anything.

Premiums are not only based on driving records but also on credit report. We’re paying $154 for a 2023 Yamaha sticker price was 23,000. $500 deductible from State Farm. Premium is based on cost of cart, in 2010, never asked for DL or SS#.
Since ours has everything that was possible gave them the out of door costs.
our 2016 with minimal perks is $108

What does the 10K/20K plan refer to?

Safeco $100 for 18 years

I have Progressive and I pay $88 a year. I have 250,000/500,000 for bodily injury liability and $100,000 in property damage.

It sounds like you have liability only, no comp/collision.
OP has comp/collision.

I am wondering if an increase in golf cart theft is driving up the comp/collision part of the premium. One's record of claims wouldn't likely impact that risk, I'm thinking.

I have comp/collision as well as liability coverage on a 2018 Yamaha and a 2002 Club Car (cash value on both likely less than one 2023 Yamaha), and my premium is considerable less than what OP reports. Mine is through Allstate, but bundled with two home insurance policies, two automobile policies, boats, umbrella, yada yada yada....so I might be overpaying for the apples to get a discount on the oranges.

Comparing insurance costs is like trying to beat a card shark at 3 Card Monte.

$184 with Progressive under Motorcycle policy.

2022 EZ Go Lithium cart. Full coverage.

I have comp/collision with a $500 deductible.

Insurance carriers are learning what Villagers (& other communities) are doing with these carts. Old people, driving 20, 25, 30 mph on roads, with cars & trucks. Carriers no longer have 1,000 golf carts & related exposures..............now they have tens of thousands of carts on their books.

Historically, these carts were driven on farm land, on dirt roads with no traffic, in small towns with a population of less than 1,000 people, etc.

Exposure for carriers have changed, we're not in Kansas any more.

:gc:

We're paying $172 per year for a 2010 Yamaha and a 2016 Club Car. Collision, comprehensive, and uninsured for bodily injury. That's with Allstate.

Golf Cart Insurance Skyrocketing
 

I think you’ll see rates only rising. If you look at the cost to buy/replace, its on par with a decent mid range automobile used. Plenty of reported accidents with injuries plus the proliferation of battery fires which is an issue for most fire departments that are not equipped with foam equipment. It all adds up. I think if you average out the responses here, several hundred dollars a year for adequate coverage seems like a good deal.

Someone needs to find out how cart insurance is priced. Is the auto driving record figured into the pricing? A lot of different prices with the same company. We have had Progressive for 3 years with high liability limits($250/500) and a $200 premium on a 2020 Yamaha with collision and comprehensive coverage. Note that theirs is a motorcycle policy. Are cart owners mixed in with motorcycle riders for coverage? If so, this might be a part of the reason.

Why wouldn’t it go up? Everything else is.:MOJE_whot:

That’s an easy find. If you are new to company they ask for DL and SS# then both are involved. Otherwise just ask your agent

I have mine added to my car insurance with State Farm, 60 a year. Perhaps try your auto insurance.

Battery Fires?
 

Battery fires rising? Last three carts to burn in TV were gas powered.


Back on topic - my GC insurance went down 10% this year.


Time for the OP to shop around. I’ve had to do that every five years or so with auto insurance.

Golf cart insurance
 

Call The Bascom Agency in Lady Lake. My rates are lower than yours on a 23 Star.

I pay $122/yr with Allstate. Have my home/car also with them. Best prices around last time I checked our insurance.

My two motorcycles and two golf carts are on same Progressive policy.

‘14 HD Street Glide
‘07 Buell Lightning
‘20 Yamaha cart
‘21 Yamaha cart

Total policy is $501.00. Carts are $67.00 for the ‘20 and $77.00 for the ‘21.

2019 cart. Bought in 2020 new. Cost with State Farm is $127. No towing.

Just got Progressive. 250k/500k plus others to satisfy my Umbrella policy. $111 per year.

Call State Farm (Nathan Thomas) on Route 301. Excellent rates. Easy to work with. You do not need to have any other insurance with them, to purchase golf cart coverage.

I suspect there is something else at play here. There is much more that goes into your insurance rates than simply the year/make/model of vehicle, and claim history for that policy. Insurance companies also rely on many other factors, and a big one is your credit rating. They also look at your overall claims history (home, auto, etc), not just for the golf cart.

As an example, we have two golf carts...2021 & 2022 Yamahas. Full coverage on both, with $250 deductibles on comp & collision. We are with Progressive. Just renewed in January for another year at $220/yr for both. Last year the premium was $202/yr.

The rates you are being quoted are quite high. Ask why.

My bill was under $200 from Foremost for a cart about 5 years old

I pay Progressive $107. Just renewed.

Golf cart insurance
 

Just switched from Foremost at 258 per year to Progressive at 138.

2023 Yamaha Quiet Tech
 

We just purchased a brand new 2023 golf cart from TV golf cart store in Magnolia Plaza for $21k. We got Progessive insurance with comp and collision with a $250 deductible for $119 a year. We got the insurance through TV Insurance in LSL.

am thinking that the OP doesn't understand how to buy insurance.. .

ours with Progressive at $130-140, with house insurance, no auto insurance with them. . the bundle string broke.. .

LOL it's not my first insurance rodeo but thank you to everyone else for useful information.

Not all policies and protections are the same so just throwing a premium and deductible number out there doesn't tell the whole story of what coverage you actually have.

After speaking to someone who does insurance as a career has informed me rates in TV are slowly increasing for golf carts because of all the DUI's, accidents and carts jacked up to go faster than 20 MPH and so many uninsured carts.

This was bound to happen with such expansion in TV.

I just priced insurance for a new cart from State Farm. I have multiple other lines of insurance and a credit score of about 825.

LOL, you don't even have collision and comprehensive on that quote.

All these folks with so-called cheap insurance may want to look at what their policy actually covers.

so the someone with a career in insurance states "Slowly increasing" and the title post "Skyrocketing" , that may be where the hyperbole results in certain responses. large percentages on small dollars are still small dollars.

I agree witheverything in the quote above.

However, I am also thinking that its easy for someone who buys car insurances all their life, wants a similar policy size for a golf cart. Am thinking that car weight x speed causes a multiples times larger debris field than a golf cart, so physical damage and liabilities should not have the size of coverage than a car does.

The question is what's a reasonable level of coverage for a golf cart in TV? and what's the price for that. .

which is precisely to your point about what's in the coverage in the premium, totally agree. .

also don't know what the insurance stats collected on golf cart cost and specs have as an influence on the golf cart. Some of us have sh!t boxes, 10 years old, etc, versus a brand new, top end lithium battery, cart. As a data guy, there is golden explanations in that heap of data

Golf cart premiums
 

Allstate has the best rates. Call 352-245-2423 for a quote.

Physical Damage is comp & collison
 

[QUOTE=JGibson;2307920]LOL, you don't even have collision and comprehensive on that quote.

All these folks with so-called cheap insurance may want to look at what their policy actually covers.[/QUOTE

Physical damage is Comp & Collison

Will self insure for that, ie, not worth the cost for a $12 K golf cart, with very low probability of totalling a golf cart.

[QUOTE=Gatorfan1;2308618]After days of this thread and 35+ posts....the truth enters the equation. I appreciate you posting. My only confusion is why would any insurance broker fail to advise a client on what some would see as a major component of a policy? Unless everyone posting low premiums blew off the recommendation

Nope, didn't blow off the recommendations, have looked and confirmed I have full coverage at a rate about half of what the OP claimed he was quoted.

Golf Cart Insurance on The Rise in The Villages | Sumter County Injury Lawyers


Just an interesting article/ad I found....

The article appears to be over 10 years old. Yes, insurance rates have risen since then.

On recreational policies (which this is) Comp and Collision are listed as physical damage.

I don't think 180 a year for golf cart is is a cheap policy, do you? I'm curious what your coverages are and your annual premium.

lol