Summer Cars, Boats, and Golf Clubs, Oh My!

Protecting Your Summer Toys

Summer’s short here in Alberta, so it’s no surprise that when the weather gets warmer, folks come out in droves to make the best of it. Some people enjoy the heat by spending afternoons out at the lake, or soaking up the sun with friends and drinks on the patio. For many, though, summer represents a small window of time in which they get to enjoy their favourite toys. These individuals look forward to the few short months of warm weather we get all year for the opportunity to haul out the golf clubs, put the boat in the lake, and go for a cruise in the “summer car.” Oftentimes, these sorts of singular, high-cost items can be difficult (or impossible) to replace, and qualify for special, high-value coverage.

Should You Consider a High-Value Insurance Plan?

The question of whether or not you should look into a high-value insurance plan for your vehicle is entirely up to you. There is no master list of car makes and models that qualify for high-value coverage – nor will your unique or expensive vehicle be refused coverage under a standard insurance policy.

With that said, however, high-value plans do offer an extensive range of additional coverage options that will provide far better piece-of-mind and value when dealing with costly high-performance or luxury vehicles. Due to the distinct nature of these sorts of automobiles, normal insurance that guarantees repair or “replacement for like kind or quality” does not often satisfy the needs of the people who own them. Truly high-value cars require a plan that is less-limited and more flexible than that which would work for the family people-mover. When even a set of tires can cost upwards of $5000, it becomes clear that standard car insurance just doesn’t fit the bill when it comes to brands like Bentley, Lamborghini, and Koenigsegg.

What A High-Value Plan Can Do for You

If you’re still not sure whether high-value insurance is a good fit for your vehicle, consider the following features found in these sorts of policies:

  • Agreed-upon value, so that you always know the settlement value for your vehicle,
  • No deductible or depreciation in the event of a total loss or theft,
  • Liability coverage of up to $50 million,
  • No mandatory 5% physical damage deductible,
  • Superior claims service, or
  • Repairs done at a body shop of your choosing, with OEM (not aftermarket) parts.

If any of these points or considerations have you tapping your chin thoughtfully, it might not be a bad idea to consider looking at high-value insurance to protect your summer toy – whether it be an exotic car, a high-performance speedboat, or any other variety of unique, expensive vehicle. Similar policies exist for high-value art and jewelry, as well!

Do you have more questions about whether high-value insurance is right for you? Call us at Lucas & Wright before hauling out your fancy summer toys, and we’ll make sure you’re covered, with plenty of time left to enjoy the warm, sunny weather!

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