It's Play Time!

Spring is in the air, and even in the midst of an economic downturn, you're probably itching to get outside and play. Who can blame you? After a long, cold winter of nothing but doom and gloom, who doesn't want to get out there and blow off a little steam? Whether it's on that motorcycle that's been calling to you from the garage, a day of boating on the river or bay, or maybe you take a couple 4-wheelers and head for the hills ... whatever your escape, this season you'll likely pursue it with a little extra passion and appreciation.

Before you or your loved ones strap on that helmet or gas up those jet skis, it's a good idea to think through a quick checklist of exposures that could spell disaster if you don't have the proper protection. Like Mom used to say, "It's all fun and games until someone loses an eye." My goal is to have fun too, but at the same time help protect lifestyles and avoid unpleasant surprises.

Motorized Vehicles - Whether it's an automobile, motorcycle, ATV or a big honking motor home, things on wheels can cause problems. These problems usually fall into three categories: Damage to the vehicle itself, injury or damage to others, and injury to yourself and/or passengers.

Collision and comprehensive on a typical auto is pretty straightforward, but it gets a little more complicated when it's a restored '69 Mustang or an ATV. You're not going to be happy if all you get is 'book value' on that classic car in mint condition. Check your policy or with your agent to see that you have "agreed value" coverage, make sure your policy has the proper value listed, and a deductible that makes sense.

Injury to others falls under the "liability" section of coverage. This is one of the most critical coverages you have because your exposure is unlimited. All your assets are on the table, so make sure you have at least $250,000 or $500,000 for liability limits. Also check your personal umbrella policy to make sure this is listed as an underlying coverage.

When it comes to injury to you or your passengers, we're talking about your and your family's well-being. Nothing is more important. Many people used to take health coverage for granted, but with today's unemployment levels, this is no longer a given. If you're out of work or between jobs, temporary medical coverage can be inexpensive, yet still provide big limits to cover even catastrophic medical bills.

Protecting your income is just as important. If you're injured and can't work, without quality disability income coverage, all those other bills can quickly become overwhelming. Along with your earning power, so goes your lifestyle. Chances are, the small amount of disability insurance you have at work won't make a dent, and if you have it at all, it's probably just short-term coverage. Your risk of becoming disabled is greater than you may think, and increases significantly with outdoor activity. The right disability income coverage may take a little time, money and a good agent, but a solid foundation here is critical. Play fast and loose in this area, and things can get ugly.

Watercraft - Boats and boating bring with them the same issues as motorized vehicles, but being out on the water opens up a whole new set of additional risks and exposures. The same things apply here as far as damage to the watercraft itself, liability (don't forget that personal umbrella policy), and injury to yourself and passengers.

One of the added exposures playing on the water brings is tow-in expense. If the engine quits and you're miles from home, you may have to hire someone to tow you in. Depending on the circumstances, that can get rather salty.

Suppose you hit a submerged log and not only is the hull breached, but the fuel tank is ruptured. The boat quickly fills with water and sinks, leaving you with nothing but your life-vests and a large petroleum slick from the fuel spill. You eventually get home safe and sound, but now some realities start to sink in (no pun intended). The local Haz-Mat was called in to clean up the pollution. Does your policy cover such a spill? The municipality requires the damaged boat to be "lifted" and removed. Depending on the situation, that can cost many thousands of dollars. Are you covered? What about all the equipment on board? Depth-finder, fish-finder, GPS, top-of-the-line radio, even the expensive water ski equipment ... hope you had those items listed. Add to that all your passengers' personal effects ... they were loaded down with digital cameras, i-pods and cell phones. Who is going to pay for all of that?

Another issue is water skiing and wake-boarding. Many watercraft liability policies exclude this type of activity unless added by special endorsement. If someone gets injured and you don't have the right liability coverage, you could find yourself high and dry.

Sailboat, power boat or jet-ski ... motorcycle, scooter or RV ... time spent on the road or on the water can bring a tremendous amount of joy and memories that last for generations. But, without the proper protection it can also be the cause of heartbreak and financial loss. Spend a little time with your insurance professional to make sure you have the right coverage in place, then get out there and have some fun!