Ski Vacations, Insurance, and You: Snow Isn’t Guaranteed (but You’re Covered)
Lynda Baquero and I were discussing our favorite New York City-area ski hills. This led to a great question from Lynda: “what would happen if all my ski equipment gets stolen—either from my car from car or some other location? Am I covered? And, what if I accidentally injure somebody on the slopes? Is there insurance for that?”WNBC-4NY reporter
Long story short: next to a good helmet, your best protection on the slopes is to understand what’s in your insurance policy.
Lynda thought this information would be useful to others and did the following segment on the subject:
Viewing Room: Check out more Ski Vacation Insurance Tips
The good news is that you ARE covered by your homeowners or renters policy if your skis, clothing, or other equipment are stolen—and if they’re stolen from your car or a car you’re renting, you won’t need to file a claim with your auto insurance. Home and rental insurance also pays for damage to ski-related items that’s caused by other disasters listed in your policy (e.g., fire, windstorms, vandalism and other disasters). (Just be aware of your policy’s deductible—though with the price of ski stuff these day it probably wouldn’t be that difficult to meet the average deductible of $500 to $1,000. ) However, home or renters insurance will not cover ski gear damaged in use. If you purchased your equipment with a credit card, check to see if your card-issuer offers any buyer protection coverage.
Now we run into a more difficult issue: what if you accidentally injure somebody on the slopes? Once again, your home or renters insurance policy would provide financial protection. Check your policy’s liability portion for coverage for injuries you cause accidentally . (Note: I said “accidentally.”) Liability insurance provides coverage (up to the limits in your policy) for the cost of legal defense and judgments against you.
And, lastly, if a pricey ski trip is in the works you should consider travel insurance. This would cover you if, say, a tour operator goes bankrupt or if you need to cancel your trip due to illness or other emergency listed in the policy. Travel insurance also includes the cost of special medical care and assistance.
So there you have it: Lynda asks the tough questions… now it’s all downhill from here.