A golf cart can be an expensive investment. The high golf cart costs demand proper road protection to avoid further expenses. Golf cart insurance can help keep your mind at ease while riding around the neighborhood.
But how much does golf cart insurance cost? Homeowner insurance typically costs around $6 a month, while a modified golf cart will cost around $100/month. Read on to learn more about the insurance cost of the golf cart.
Average Golf Cart Insurance Cost
The average cost of golf cart insurance can vary depending on factors such as location, usage, coverage options, and the type of golf cart you own. Let’s break down the estimated costs mentioned in the excerpts:
Homeowners Insurance Endorsement: If you’re a homeowner and want to add your golf cart as an endorsement to your existing homeowner’s insurance, the average cost is approximately $6 per month. It is a cheaper option, but you can’t take your golf cart on the road.
Separate Golf Cart Insurance: Opting for a standalone golf cart insurance policy can cost around $12 per month.
Modified or ATV Golf Cart Insurance: For those with modified golf carts or ATV golf carts, the cost can be higher, averaging around $100 per month.
Progressive’s Policy Cost: If you acquire a Progressive insurance policy, it will roughly cost you as low as $75 a year for a golf cart that is strictly used on your own property or on the field. Their premium policy costs $405 per year.
All these insurances will not cover a golf cart accident or injury. You need to get a separate insurance policy.
Average Cost of Golf Cart Insurance in Florida
The average cost of golf cart insurance in the state can range from approximately $75 to $300 per year for basic liability coverage. If you opt for comprehensive coverage and additional features, the cost could exceed $500 annually. The actual cost varies based on several factors, including the type of coverage, location, usage, modifications, and the insurance provider.
What Does Golf Cart Insurance Cover?
Golf cart insurance coverage protects you from the risks and liabilities of owning and operating a golf cart. Here are the common coverage options to consider:
Property Damage Liability: This coverage protects you financially if your golf cart causes damage to someone else’s property, such as vehicles, fences, or structures.
Bodily Injury Liability: Bodily injury liability coverage provides financial protection in case you cause injuries to others in an accident involving your golf cart. It covers medical expenses, legal defense fees, and other related costs.
Guest Passenger Liability: This coverage extends to your passengers, covering their medical expenses if they sustain injuries while riding in your golf cart.
Collision Coverage: Collision insurance pays for damages to your golf cart resulting from collisions with other vehicles or objects.
Comprehensive Coverage: Comprehensive insurance covers non-collision incidents such as theft, vandalism, fire, or damage caused by natural disasters.
Determining the specific coverage options and limits for your golf cart insurance will depend on your individual needs, the type of golf cart you own, and any state requirements.
Golf Cart Rental Insurance
If you rent out your golf cart to others, it’s crucial to explore rental insurance options. Rental insurance can protect you from potential damages or liabilities that may occur while someone else is operating your golf cart. Consult with your insurance provider to understand the rental coverage options available.
Factors Affecting Golf Cart Insurance Costs
Type of Coverage
Golf cart insurance typically offers liability coverage, protecting you from potential liabilities if your golf cart causes damage or injury. Comprehensive coverage, which includes protection against theft, vandalism, and non-collision incidents, can increase the cost.
Location
The location can influence insurance costs due to varying risk factors, such as traffic density and local regulations. Urban areas may have higher premiums due to increased accident risks.
Usage and Modifications
The frequency and purpose of using the golf cart can affect insurance costs. Modifications that classify your golf cart as a low-speed vehicle (LSV) will require mandatory insurance.
Insurance Provider
Insurance providers have different pricing models and rates. Obtaining quotes from multiple providers allows you to compare costs and coverage options. Factors like the provider’s reputation and customer service should also be considered.
Additional Factors
The value of the golf cart, safety features, driving history, and whether the cart is owned outright or financed can impact insurance premiums.
Do You Need Insurance on a Golf Cart?
The need for insurance varies depending on state regulations and how you use your golf cart. While some states may not require insurance, having coverage is highly recommended to protect your investment and mitigate potential liabilities.
Here are the most common causes of golf cart-related injuries. Looking at these stats, one can easily understand why golf cart insurance is important.
Golf Cart Insurance Requirements By State
Each state has its own specific requirements for golf cart insurance. Let’s take a closer look at a few states and their respective regulations:
Arizona
To drive your golf cart on public roads in Arizona, you need insurance that meets the minimum car insurance requirements. This includes coverage of $25,000 for bodily injury liability per person, $50,000 for bodily injury liability per accident, and $15,000 for property damage liability.
California
In California, golf carts that meet certain criteria are exempt from state registration. However, if your golf cart exceeds the limits set by the state, you may need to register and insure it.
Florida
Golf carts are quite common in Florida because of more communities for retirees. So, you don’t need to get your golf cart titled, registered, or insured here. However, low-speed vehicles are considered a separate category that requires minimum liability coverage.
Nevada
In Nevada, you can drive your golf cart in approved residential developments. Some developments in Clark County may require a DMV permit and insurance. If your golf cart is classified as an LSV, it can be driven on public streets with a speed limit of 35 mph or less. Registration and the minimum car insurance coverage are mandatory.
North Carolina
When driving your golf cart on public roads in North Carolina, you must have at least the minimum liability insurance required for car insurance. This includes coverage of $30,000 for bodily injury liability per person, $60,000 for bodily injury liability per accident, and $25,000 for property damage liability.
South Carolina
In South Carolina, a golf cart permit is required to drive on public roads. You can only operate your golf cart within a four-mile radius of your home or business on roads with a speed limit of 35 mph or less. To obtain a permit, you need to provide proof of liability insurance, a completed golf cart permit registration form, a valid driver’s license, and a small fee.
Texas
Driving a golf cart on public roads in Texas requires a golf cart license plate. There are specific conditions for driving, such as being in a master-planned community or on public roads with a maximum speed limit of 35 mph. Unless your golf cart travels at speeds over 25 mph, it requires a slow-moving vehicle label.
Remember, it’s important to familiarize yourself with the regulations in your state and ensure you have the necessary insurance coverage to comply with local laws and protect yourself on the road.
Final Thoughts
As a golf cart owner, securing the right insurance coverage ensures peace of mind while enjoying your rides. From the cost of insurance to state-specific considerations and coverage options, understanding the nuances of golf cart insurance is essential. Take the time to compare quotes, consider your usage patterns, and consult with insurance professionals to find the best policy for your needs.
