How much is golf cart insurance? | Check Rates!

Golf cart insurance typically costs between $100 and $500 annually, depending on coverage types, location, and cart usage. Liability insurance is less expensive than comprehensive coverage, which includes protection against theft and accidents.

From basic liability to full coverage, prices may be a surprise. Discover the factors that affect your premium and how to save on the best policy for your cart.

What Is Golf Cart Insurance and Why Do You Need It?

Golf cart insurance is a policy that protects your cart from accidents, theft, and damage. As well as covering your liability, you can also protect yourself from losses due to natural accidents or theft. This insurance is important because standard car insurance does not cover golf carts, and in many places, this is required by law. Insurance provides peace of mind, making sure you are financially protected in the event of unexpected events.

Do You Legally Need Golf Cart Insurance?

Golf cart insurance is legally required in some areas, especially when you use your cart on public roads. While it may not be needed everywhere, insurance is still highly recommended to protect against financial loss from accidents, theft, or damage. Always check local laws to see whether insurance is a legal requirement in your area.

How Much Does Golf Cart Insurance Typically Cost?

Golf cart insurance typically costs between $75 and $300 per year for basic coverage, depending on factors like location, usage, and the cart’s value. Comprehensive and collision coverage can increase the cost, ranging from $400 to $1,000 annually. Prices may also be higher for street-legal carts or Low-Speed Vehicles.

What Factors Affect the Cost of Golf Cart Insurance?.

• Type and Value of the Golf Cart: Custom or luxury carts typically cost more to insure than standard models. 

• Usage Frequency and Location: Regular use on public roads or in areas with higher traffic or theft rates can increase premiums. 

• Driver’s Age and History: Younger drivers or those with a history of accidents may be subject to higher rates. 

• Coverage Type and Deductibles: Choosing full coverage increases costs; higher deductibles can lower premiums. 

• Storage and Security Measures: Keeping the cart in a secure location and installing safety features can reduce insurance costs. 

How Much Is Golf Cart Insurance for Street-Legal vs. Non-Street-Legal Carts?

Non-Street-Legal Carts:

Typically used on private property or golf courses, these carts often require only basic liability coverage.

Insurance rates for such carts can start as low as $75 per year, especially when added as an addition to a homeowner’s policy. However, coverage may be limited to on-property use and might not extend to public roads.

Street-Legal Carts:

Designed for use on public roads with speed limits of 35 mph or less, LSVs must meet specific safety standards, including headlights, seat belts, and turn signals.

Due to these requirements, insurance premiums are higher, ranging from $100 to $400 annually, depending on factors like cart value, location, and coverage options.

How Much Is Golf Cart Insurance for Personal Use vs. Commercial Use?

Personal Use:

Golf cart insurance for personal use typically costs between $75 and $400 annually, depending on coverage options and cart value.

Commercial Use:

For commercial use, premiums are higher, ranging from several hundred to over $1,000 per year, due to the increased liability and coverage requirements for business operations.

What Types of Golf Cart Insurance Coverage Are Available?

Golf cart insurance offers various coverage options to protect against different risks:

• Bodily Injury Liability: Covers medical expenses if you injure someone while operating your golf cart. 

• Property Damage Liability: Pays for damages you cause to someone else’s property with your golf cart. 

• Collision Coverage: Helps repair or replace your golf cart after an accident, regardless of who is at fault. 

• Comprehensive Coverage: Protects against non-collision incidents like theft, vandalism, fire, or severe weather. 

• Uninsured/Underinsured Motorist Coverage: Covers your medical expenses and damages if you’re involved in an accident with an uninsured or underinsured driver. 

• Medical Payments Coverage: Pays for medical bills for you and your passengers after an accident, regardless of fault. 

• Accessory Coverage: Insures custom parts and upgrades on your golf cart, such as radios or custom paint jobs.

Does Homeowners Insurance Cover Golf Carts?

Homeowners insurance may provide limited coverage for golf carts, primarily for liability on your property or in specific communities. However, this typically does not cover incidents on public roads or for uses beyond private areas. For more complete coverage, it is recommended to have a separate golf cart insurance policy.

How Much Is Golf Cart Insurance by State?

Golf cart insurance costs vary by state, with basic coverage ranging from $75 in Florida to $142 in Georgia. For street-legal Low-Speed Vehicles, premiums can range from $100 to $300 annually in Florida and $284 to $300 in Texas. Costs depend on state regulations, cart usage, and local insurance requirements.

Which Insurance Companies Offer the Best Coverage for Golf Carts?

Several reputable insurance providers offer specialized golf cart coverage, catering to various needs and preferences:

Progressive: 

Provides a range of coverage options, including liability, accident, and comprehensive insurance. Offers discounts for bundling policies and paying premiums upfront. 

GEICO: 

Offers a variety of golf cart insurance policies with coverage for bodily injury, property damage, and medical payments. Provides multi-policy discounts for bundling with auto or homeowners insurance. 

Foremost: 

Specializes in recreational vehicle insurance, including golf carts and other vehicles. Offers tailored coverage options to suit various usage scenarios. 

Nationwide: 

Provides golf cart insurance through motorcycle policies adapted for golf carts, offering comprehensive coverage options. 

Safeco: 

Offers golf cart insurance as part of their specialty vehicle insurance, covering both on-road and off-road golf carts. 

Allstate: 

Provides comprehensive coverage for golf carts, including liability, collision, and comprehensive insurance. Offers various discounts to policyholders. 

The Hartford: 

Offers golf cart insurance through a trusted specialty carrier, providing coverage for both gas and electric golf carts. 

Comparison Insurance:

A network of local, licensed insurance agents who can help you find the best golf cart insurance coverage tailored to your needs.

How to Save Money on Golf Cart Insurance Premiums

• Bundle Policies: Combine with auto or homeowners insurance for discounts.

• Increase Deductibles: Higher deductibles can lower premiums.

• Pay Annually: Avoid installment fees by paying in full.

• Complete a Safety Course: Some insurers offer discounts for completing one.

• Maintain a Clean Driving Record: Safe driving can reduce rates.

• Store in a Secure Location: Keep your golf cart in a garage or use a theft recovery device to protect it from theft.

• Review Coverage: Adjust coverage to fit your current needs.

Is Golf Cart Insurance Worth the Cost?

Yes, golf cart insurance is worth the cost as it provides essential protection against accidents, theft, and damage. While basic coverage can be affordable, it ensures financial security, especially if you use your cart on public roads or outside your property. It also helps meet state requirements for street-legal carts, making it a valuable investment.

FAQ’s: 

Conclusion:

Golf cart insurance is an important safeguard that protects you from financial risks, whether your cart is used for personal or commercial purposes. While the cost of coverage can vary based on factors like location, usage, and cart type, the value of having proper insurance far outweighs the expense. Whether you’re using a golf cart on private property, on a golf course, or on public roads, insurance helps ensure you’re covered for accidents, theft, and damage. By understanding the different coverage options and taking steps to lower your premiums, you can enjoy peace of mind knowing your golf cart is protected correctly. Always check local regulations and review your needs to choose the right policy for you.

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