Take a look at these insurance tips to enjoy your summer activities with peace of mind.

Summer is right around the corner and it’s time for some outdoor fun! You can enjoy an ATV ride, boating on a lake, swimming or trampolining in your backyard. 

All of these recreational activities are fun with family and friends but it’s important to remember about insurance and the safety aspect of certain activities. If your regular insurance policy does not cover these items, you may need to ask about additional coverage. 

ATV Insurance

ATVs are also known as four-wheelers and quad bikes. They are designed to handle more terrain than other vehicles.

Insurance is required if you own an ATV. In some countries, it is legal to drive on the street. However, this is not the case in Canada or in the U.S. If you do not ride it on your private property, you will need insurance. 

ATV insurance It is a product of insurance that not all companies offer. 

This coverage protects you in the event that your vehicle is damaged, stolen, or if it is lost. For those who ride an ATV on public highways, roads, or land, you will need coverage for third-party liabilities and accident benefits. 

If it is not licensed for the road, or they can’t get their own auto policy, the only option is via a home insurance policy. This is not recommended as there is no provision for injury insurance in the event that someone is injured while driving. This can be done via a floater or as an endorsement to the policy.

Never rely solely on the coverage provided by your auto or house insurance. Consider bundlingThis can be done with your home and automobile insurance policies to receive a possible discount.  

Boat Insurance

It is important to have a boat. Boat insurance It will cover you in the case of damage or loss to your watercraft. While boat insurance is not mandatory across Canada, it’s important to protect your investment.

It will cover your boat if your boat is stolen, involved in an accident, or damaged due to a covered peril, such as lightning or fire, and it will protect you if your boat accidentally damages someone else’s property or injures them.

For smaller boats, you may find some limited coverage under your homeowner’s policy. You can choose from a variety of optional coverages depending on the type and size of your boat. 

The most common claim for boats are environmental contamination lawsuits arising from leaking vessels and contaminated water systems. If a boat is insured on a home policy – most policies will not cover environmental contamination losses.  

It is essential that boaters get a separate insurance policy to cover them in the case of a spillage.  If injuries are sustained in a boating incident, the home insurance policy does not cover accident benefits.

Backyard Fun

Swimming pools, trampolines, and hot tubs are great backyard additions that can provide hours of entertainment on a sunny, warm day! How do these things impact your insurance?

If you’re planning to build a pool, install a hot tub, or buy a home with these already in place, you’ll need to let your insurance advisor know. Pools and hot tubs are high-risk items that insurance companies must be aware of in order to adjust their home insurance policies accordingly. 

Disclosure of pools and hot tubs is required. It is recommended that you increase the liability limit to avoid paying legal and medical costs if someone falls and gets injured while using your hot tub or pool.

If you have a standard home insurance policy, it may not be enough to cover accidents around your swimming pool. You should consider increasing the third-party liability coverage. If you have a standard home insurance policy, chances are that won’t be enough. 

A pool will also increase the value of your property and the cost to replace your home if it is necessary. Both of these additions can increase your insurance rates. 

A leak or structural malfunction can cause damage to your property and/or your neighbour’s property, resulting in costly water damage that you would be responsible for. Your insurance advisor can ensure that your home and pool are covered in the event of an accident.

Trampolines are similar to having a backyard pool – they can be dangerous and therefore pose a higher risk of injury. Most insurance companies require a trampoline to have a net, locking zip and/or fenced area. If you are legally held responsible for injuries, it is best to have additional liability coverage.

Summer Days 

There are many ways to spend your summer days but understanding your insurance coverage is key to ensure everyone’s safety. Ask your advisor to review the home insurance policy you have and to inquire about additional coverage. This will ensure that your family is properly protected. Have peace of heart this summer!