Don't Forget About Specialty Insurance

If you're enjoying spring's warmer days, you're probably already thinking about all the fun you'll have this summer with motorcycles, jet skis, RVs, and more.

04/20/23
Automotive, Insurance

If you're enjoying spring's warmer days, you're probably already thinking about all the fun you'll have this summer with motorcycles, jet skis, RVs, and more. That means it's a good time to think about insurance.

Most people know they need dedicated coverage for their motorcycles, campers, and RVs. But there's a common misconception that existing homeowners policies will automatically cover jet skis, boats, and other water toys. But you actually need specialty coverage.

It's not just your property you want to protect. It's you! If you'll be cruising by boat or by motorcycle, for example, you may want additional liability insurance. This will give you security and peace of mind so you can focus on having fun.

Got a Motorcycle? Get Covered

If you are one of the roughly 8.6 million motorcycle owners in the U.S., it’s important your insurance coverage is along for the ride. Specialty insurance offers peace of mind and protects your property.

According to IIHS, the number of on-road motorcycles registered in the U.S. has risen over the last ten years, doubling from 4.3 million in 2002 to 8.6 million in 2021.

Motorcycles, collector cars, and boats are generally not covered under standard auto or homeowners policies. Specialty policies offer broader coverage and options, specialized claims handling and customer service, and, sometimes, additional discounts for mature riders, completing training courses and memberships in rider associations or clubs.

Here is a quick primer on insurance products for motorcycles and other specialty vehicles:

  • Motorcycle insurance offers replacement cost coverage and travel loss reimbursement and might also include coverage for permanently attached accessories, safety apparel, and helmets.
  • Collector vehicle insurance covers antiques, street rods, classics, collector motorcycles, muscle cars, vintage race cars, kit cars, military vehicles, new exotics, tractors, custom cars, and fire engines. Restorations in process, harder-to-place autos (such as Cobras), and collector trucks also may be eligible.
  • Watercraft insurance policies cover various types of boats: powerboat, sport-fisher, sailboat, mid-performance boat, high-performance boat, bass boat, pontoon boat, ski boat, hovercraft, trawler, houseboat, airboat, and personal watercraft. Discounts on watercraft insurance policies might be available based on watercraft-ownership experience.

You might be worried that additional insurance, particularly for specialty vehicles, may be expensive. AAA recommends speaking with a trusted insurance agent who will work with you to find the right coverage to fit your budget and needs. When you meet with your agent, ask about insurance bundling – it's an easy way to save money.

Not sure where to start? To learn more about specialty insurance and other specialty auto and homeowners products, visit aaa.com/insurance or your local AAA branch office.