Should You Buy Insurance on Golf Clubs? How to Get Protection for All of Your Valuables

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Keep your valuables safe.

Investing in personal insurance for all of your valuables is quite important today. When you own an item that is of a high value, having the right type and amount of insurance protection can help you to recoup from any loss suffered. For some people, golf clubs are one of those high priced items that should carry high-quality insurance. Do you need a special insurance policy for it? Before making that decision, there are a few key things to keep in mind.

Does Your Homeowner’s Insurance Cover Your Golf Clubs?

A homeowner’s insurance plan is one of the most important investments for you as a property owner. This type of insurance generally provides protection for the actual structure of your home from risks such as fire, theft, and vandalism. In addition to this, it can provide some protection for your contents. Household contents insurance, often a separate policy, adds more protection, though. This type of insurance policy helps to protect the items within the home, such as your high value items. If there is an incident (such as fire, theft, or vandalism) that your insurance policy covers, it will provide you with payment for those items for replacement of them or up to their current value if they are lost.

Is That Enough Protection?

In some situations, individuals have items that are of a very high value. For example, you may have a piece of art or a high value piece of jewelry. These items’ high value means they may be worth more than the amount of your contents insurance. Most of these policies have an upper limit. That means the policy will only provide coverage up to a certain point. If anything you own is a high value item, where the value may push beyond your contents coverage limit, it may be best to secure a secondary insurance policy for that item.

To determine if you should have a separate amount of personal property insurance for any item, consider its value. If that item was lost, how much would you expect the insurance provider to pay you? If that value is over or approaching the claim limit on your property insurance, it may be best to purchase additional coverage to protect that value. This may apply to your golf clubs, if they are very high valued items or hard to replace items.

Keep in mind that if you do have high value items like this, even if they will not push over the coverage limit of your policy, you should inform your insurance carrier of these items before you actually obtain the policy. In some cases, they will need documentation of the value of the items, such as the golf clubs, as well as your ownership of the items. Keep your most prized possessions safe with property insurance.