Golf cart insurance question
 

I did review the thread from last year about cart insurance. I did notice a large swing is premiums presented....some under $100 per year others over $100 per year.

When I look at details of my quotes the one item that can make the prmium more or less than $100 per year is the uninsured motorist. The amount for uninsured can easily be 1/3 to 1/2 more annual premium.

What is the opinion regarding the need for uninsured motorist in a golf cart.

Seriously ? This is Florida...

none, as long as you only get hit by insured motorists!!!

Just trying to understand the big swing in premiums presented in the thread with no details to compare.

I think the largest swing in coverage costs relate to limits and deductibles.

Another items............you might want to have your golf cart listed on your umbrella liability policy (if you have one)......it's about a $25 all.

Seriously, I would guess the premium is based on actuarial calculations regarding accidents involving uninsured motorists, and like RD stated, "This is Florida" It may be percentage wise higher than the same coverage on your auto, perhaps because of the higher likelihood of serious injury as well cart damage costs when cart meets car. Insurance companies have these kind of costs pretty much nailed down---we all know they don't LOSE money!

I looked at my policy and the uninsured motorist is 20% of the policy.

And of course the other variable folks leave out when they tell their premium is what year is the cart.

Yep, "limits and deductibles".

I insure what I can't afford. Can I afford to lose a $5,000 cart??.......yes, it will be painful, but I can afford it. Can I afford to lose a $15,000 cart........Hmmmm, maybe I should not have a $15k golf cart.

I insure my home, my auto, my liability risk. I use to insure my life (for my dependents), but not any more.

I was told by my agent that uninsured motorist coverage is high in FL because FL has the highest number of uninsured drivers in the country.
(He also said insurance is high in New Jersey because they have the highest rate of insurance fraud).

With no facts to conclude from, I would venture a "guess" that the number of uninsured over the highway motor vehicles is a significantly different percentage (much higher) that the number of uninsured golf carts. With the golf carts of course being much lower percentage.

And Florida's minimum liability & property damage is a joke. 10K on each. Underinsured protection is a no brainer as well.

btk: Normally the largest charge is for collision. Its wise in my view to carry collision on a car or cart until the value is such that you can self insure and can drop the coverage. . Premium may also be affected if you carry all of your coverages with the same insurance carrier. Its also wise to carry an umbrella policy which are in most cases reasonable. chances of this policy coming into play are low but given this litigious society and plaintiff attorneys who would be honored to handle people's claims its a smart move.

The way umc was explained to me is that it only provides medical coverage for you and your passengers if the other motorist is at fault and doesn't have insurance. If you have comprehensive and liability coverage, your vehicle is covered, and your passengers can seek damages through your liability coverage.

Look at both uninsured and under insured coverage. If you get hit in your cart by someone with 100,000 of liability insurance and your bills total 200,000 you will need under insured coverage for the extra 100,000. The answer depends on how much you need insurance vs what you can afford to pay out of pocket if someone hits you and they can not pay all your bills.

I consider the Villages a high risk area for carts. Lots of traffic and more importantly lots of visitors that could be distracted.