Lawnmower Insurance

We live in an age of risk management, which means securing warranties and the best insurance for many essential and expensive devices. Many tools are insurable, and lawnmower insurance is standard among homeowners and business owners. There are multiple tiers of lawnmower insurance, and typically, it’s covered under homeowners’ or business owners’ insurance policies. For example, an open perils policy comprehensively covers any associated homeowners’ risks. On the other hand, there is a named perils policy, a less comprehensive but cheaper plan that lists specific scenarios under which the lawn equipment is covered.

What to Know about Lawnmower Insurance

Homeowners know it: lawnmowers are expensive. Often, equipment will be covered by homeowners insurance. But even then, it’s not a guarantee, and when it is included, it usually has basic coverage. This process can be confusing, so it’s crucial to know the differences between home insurance and home warranty.

Insurance companies, like Asurion iPhone coverage, are third parties that create contracts that agree to pay for damages that occur to items under certain conditions.

When laying out a homeowner’s insurance plan, owners need to select the various items they want to be included in their plan, and there are a few options to choose from when it comes to mowers. Mowers are especially important to insure, as not only are they expensive, but they also pose risks for physical injury.

A homeowners insurance policy usually includes coverage for mowers if they are stolen or ruined in a fire or natural disaster. But additional policies can be taken out to ensure other guarantees.

Open Perils Policies

Open perils policies (also called umbrella policies) are the most comprehensive coverage plans, protecting against accidental or unexpected environmental damages and theft. However, they also cost the most. However, these policies will exclude specific scenarios, so always double-check this section.

Perils Policies

Then, two less comprehensive types of plans fall under named perils policies. First, there’s a property damage-only policy, which will cover specific situations under which the insurance will cover damages to the machine. Under open perils, these often include:

• Theft or vandalism
• Fires or floods
• Damage from a fallen tree (only applies to trees on the property)

There’s also a liability-only policy. This named-peril policy only covers injuries sustained by others while you’re operating the machine.

Remember that the lawn mower manufacturer will offer a warranty for manufacturing defects, similar to other essential household equipment, like a Rheem Water Heaters warranty. For more on this, you need to know the differences between insurance vs warranty.

What Does Lawn Mower Insurance Cost

There are a few factors involved in calculating the cost of insurance. These include:

• Type of lawnmower
• Age of the equipment
• Original value
• Extent of coverage
• The state you live in

Once these things are considered, a definitive price is placed on the overall coverage.