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Do you insure your golf equipment?

Coloradomrg

Coloradomrg

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Today's sad thread about losing an entire bag of custom gear got me thinking...

Do you insure your gear? I do. It's expensive, and would be hard to replace immediately if I had to come out of pocket.

With State Farm I am able to have a "personal article" policy. Ours insures the wife's jewelry, and my golf gear. The rate for the golf gear is under $10/mo. For all of our clubs, travel gear, carts, training aids, etc. we have an inventory that we keep up to date. I have no deductible with this coverage, so no worries about offsetting the loss vs. the actual cost. We tell state farm what it would cost to replace the full inventory list, and that's what sets the policy limit. Claims are pretty easy - but can be a bit of a hassle if you don't have paperwork, or pictures and a good inventory list.

Your home owner's or renter's insurance may also cover you, but you'll be looking at a large deductible that probably won't make sense.

I'm sure there are other ways to insure your stuff... but I know that this isn't something everyone thinks of. I mean... we've all heard of thieves stalking the front door to a clubhouse, or clubs growing legs at the airport, or the guy who left his garage open, or.... you get it.
 
I quoted you in the other thread, but everyone should have it. It's a separate policy from your homeowners in most cases, depending on the company and state, it can be added as an endorsement. You should have the option to have no deductible and if it's a separate policy, it is not a homeowners claim.
 
Jeff Spicoli said:
I quoted you in the other thread, but everyone should have it. It's a separate policy from your homeowners in most cases, depending on the company and state, it can be added as an endorsement. You should have the option to have no deductible and if it's a separate policy, it is not a homeowners claim.
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I'm not sure I'd know about it if my wife didn't work for a State Farm agent :ROFLMAO:
 
Pretty sure I have some property coverage under my homeowners. I asked specifically to cover the wife's wedding ring and if it includes golf clubs, to which I got a yes, but I should probably follow up on that
 
Never really something I have considered. I do have a rider for my wife's ring, but outside of that nothing else is covered. While losing a bag wouldn't wreck my world at this point, but would be nice to replace and little cost to myself if something sad were to happen. Honestly this boils down to me getting with a new insurance broker as my current one is lackluster.
 
Gyro25 said:
Pretty sure I have some property coverage under my homeowners. I asked specifically to cover the wife's wedding ring and if it includes golf clubs, to which I got a yes, but I should probably follow up on that
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I would confirm it. Each state and company probably does it slightly differently, but I know for us, we list out each item individually with the replacement cost on it. Can be lots of updating for people like me who change up equipment regularly, but worth it if your bag is stolen or lost.
 
I've never bought insurance on anything I'm not legally required to.

Furniture, computer, TV, golf clubs etc....you start doing it for everything it's offered on you'll be broke pretty quick.
 
I've never done it for my golf clubs, but we've always gotten insurance on musical instruments for one of my kids. We've done it separately, not through homeowners.

Granted flutes are extremely more expensive than my clubs, but there's still a decent amount of money in my bag. Not sure why I've never done it.....or my guitars for that matter.
 
MtlJeff said:
I've never bought insurance on anything I'm not legally required to.

Furniture, computer, TV, golf clubs etc....you start doing it for everything it's offered on you'll be broke pretty quick.
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I mean... my bag and clubs walking away would set me back $3k. And unfortunately we do all sorts things in the normal course of a round that puts us at risk.

Insurance is all about mitigating risk. If you can afford to go replace your stuff if it is suddenly gone, then you don't need insurance.

Most of the things you listed are some of what would be covered by your homeowner's or renters insurance though.
 
Coloradomrg said:
I mean... my bag and clubs walking away would set me back $3k. And unfortunately we do all sorts things in the normal course of a round that puts us at risk.

Insurance is all about mitigating risk. If you can afford to go replace your stuff if it is suddenly gone, then you don't need insurance.

Most of the things you listed are some of what would be covered by your homeowner's or renters insurance though.
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From the point of the insurance company, it's about math. Over time they make money off people who have it. If they didn't they wouldn't offer it.

Having it in case you run into a "black swan" type situation where your expense is truly unpalatable I understand. But this applies mostly to home and maybe car in terms of liability

For smaller items where upside liability or replacement cost is smaller. I'd say if you never bought insurance on anything and were fairly responsible, you will come out ahead
 
My clubs are included in my home owners policy - I asked when we signed on.
 
All my stuff. (toys) is either covered by my home owner's, auto, or RV polices. My home, auto, and RV polices carry a $500 deductible. Other items, like golf clubs have a $100 deductible.
 
Turbodog384 said:
I've never done it for my golf clubs, but we've always gotten insurance on musical instruments for one of my kids. We've done it separately, not through homeowners.

Granted flutes are extremely more expensive than my clubs, but there's still a decent amount of money in my bag. Not sure why I've never done it.....or my guitars for that matter.
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Hold the phone! A flute is more expensive than a full set of clubs??? 🤯
 
Yes. It's something like $50 per year and also fully covers the clubs when they are left in the car (boot/trunk) if they get stolen. As well as all the normal stuff like personal injury, hole in one bill, etc.

And it's old for new replacement too. Which means if I have a 10 year old driver they'll give me the full brand new retail cost at the time it was released.
 
I have a rider for my clubs, jewelry (watches, wife's stuff) and guitars as their values tend to exceed the norms. But yes, I definitely insure my clubs.
 
I have golf insurance which covers equipment. Anyone out there playing without golf insurance is extremely naive and irresponsible imo.
 
My homeowners covers sporting equipment up to 15K. My boat insurance covers fishing gear as well. With firearms and associated equipment, golf gear and fishing gear added up I am under insured, but I can self insure some as well........
 
DaveGolfer15 said:
Why’s that?
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This may be a difference in culture, views on liability and assumption of risk. Generally in the US, golfers don't hold any personal liability, unless they are negligent, in which case liability insurance might not help anyway. I know it is different in the UK.
 
captaincaution said:
This may be a difference in culture, views on liability and assumption of risk. Generally in the US, golfers don't hold any personal liability, unless they are negligent, in which case liability insurance might not help anyway. I know it is different in the UK.
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Yes indeed very different.
 
I don’t as for me there is very little chance my clubs will be stolen. They mostly stay in storage at my club and a thief will always choose another bag rather than mine that has Srixon irons, a 2007 Titleist driving iron, and fairway woods that are old and beat up. They can’t pronounce Srixon so why would the want to steal them??;)
 
I don't specifically insure mine. I suppose I should.
 
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