The mistaken value of your golf bag - what's it worth?

Golf Monthly got together with Golf Care to tackle some of the common misconceptions about golf insurance.

The mistaken value of your golf bag - what's it worth?

Golfers frequently underestimate how much their golf equipment is worth. Or more accurately how much it would cost to replace.

When you add everything together, including your bag, GPS, shoes, waterproofs etc you’re more likely to be carrying around thousands of pounds worth of equipment. And that’s worth insuring for the cost of a sleeve of balls a year.

Recently Golf Monthly asked a couple of its readers to itemise their golf equipment and then estimate what it was worth. Mike reckoned his gear, which included his electric trolley, GPS, sunglasses, waterproofs and shoes, was worth £2,000, whereas Steve valued his gear to only be worth £1,250.

Golf Monthly then asked Golf Care Managing Director John Woosey to establish the true value of these two readers’ golf equipment. The respective answers were ‘more than £3,200’ and ‘more than £2,150’. So both readers had believed their equipment to be worth about 60% of its true value. They are not alone in this.

Your home insurance may not cover your clubs

Another thing golfers tend to be mistaken about is the belief that their household insurance cover automatically applies to their golf clubs. This is in fact an extremely common misconception. Household policies normally only cover the clubs when they are at home, not if they are stolen from a golf club terrace or the back of your car.

A third factor overlooked by golfers is the emotional attachment they have to their clubs, or maybe just one particular club. We all have our favourite bits of golf kit, whether it’s that putter which works for us, or that trusty go-to club which we have had for ages, but which is no longer manufactured. Finding the right replacement clubs would not necessarily be quick or easy.

Golf insurance replaces your clubs on a ‘new for old’ basis

Golf Care’s golf club replacement cover is on a ‘new for old’ basis for items purchased new and up to three-years-old, subject to satisfactory proof of ownership. Items which are older than three years or not purchased new are replaced on the indemnity value of the equipment at the time of loss or damage. You also have the option to extend the standard cover to be for the life of your equipment. So, in the event of a claim, you would receive new equipment at your original purchase price, regardless of its age. You can either provide a copy of the original receipt or show bank statements to prove the cost of the clubs and when they were originally purchased.

Cover for a wide range of things

Last year Golf Care paid out on more than 1,000 claims. These ranged from the theft of clubs from cars to one client’s wayward shot which broke the GPS of one of the players in another group, to a player who accidentally set off his motorised trolley on a journey which only ended when it tumbled into a lake. More enjoyable claims, especially from the point of view of those who were making them, were for making a hole-in-one, a feat of skill which is covered automatically with all Golf Care policies, with the ace maker receiving either £150 or £200 depending on which of the four types of cover was taken out. 

Special Offer for GM Readers

Golf Care is offering GM readers a special offer which includes 30% off the standard price of an individual policy, three free rounds of golf, three free Srixon AD333 balls and a limited edition poker chip ball marker for just £22.99 a year. Call 0800 158 5515 or visit www.golfcare.co.uk/GMA15