How Can Travelers Insure Their Skis?
If you are an avid skier and travel with your ski equipment in tow, you may be delighted to find that homeowners insurance typically provides limited coverage for possessions that you take with you. What you might not know is that some high-end items, including some sports equipment, might be best insured by a special kind of coverage added to your homeowners, condo, or renters policy. This coverage is often called a personal articles floater, and it is designed to cover a valuable collection of items, such as a family’s ski equipment.
Adding a personal articles floater may require receipts or some kind of proof of the value of your equipment, and you will likely have the choice to insure it for its actual cash value, reflecting its age and condition, or at replacement value, which has a slightly higher premium but will allow you to buy a set similar to the original.
Items valued at less than $1,000 each are usually insured on an “unscheduled” floater, meaning you don’t have to provide a list of the exact items with appraisals; you might just have coverage for “ski equipment.” Coverage in this arrangement may be limited to specific perils, so ask your agent if there’s a benefit to insuring your ski equipment on a scheduled floater, which requires more information but may provide broader protection.
There are some considerations particular to skis to ask your agent about. For example, what if one ski is damaged by a covered cause of loss or stolen but the other is still fine and in your possession? Would your insurance permit the replacement of both skis in the pair? Also, is breakage covered and under what circumstances? Does the policy cover international incidents and immediate replacement? What if someone else’s carelessness causes your loss, such as a chaperone or team manager who is handling equipment transfer and fails to board your ski bag? Work with your insurance agent to get the specifics for ski losses and find a policy that best fits your needs.
Do you Need Ski Travel Insurance?
You may see advertisements for travel or ski trip insurance that make it sound like you need that policy to cover your ski equipment for theft and damage while on vacation or at a competition. While travel insurance offers some protection that homeowners insurance doesn’t, such as coverage for trip cancellations, a home, condo, or renters policy often provides coverage for both damage to or loss of your property as well as liability costs if you injure someone or damage their property while skiing.