Holiday Toys Kids Love and Insurers Hate

Photo (cc) by limaoscarjuliet

Some toys that Santa places under your Christmas tree may prompt a quick visit with your insurance agent once they come out of the box, or before if Santa gives you a heads up.

Look critically at the toys your kids receive — and whether they might cause someone an injury. As a starting point, check out the little trampoline, Kick Flipper wheelless skateboard and other products named by W.A.T.C.H. (World Against Toys Causing Harm) in their 10 Worst Toys for 2015.

If you have toys that raise questions, talk to your insurer so they can check your policy’s coverage.

Some toys, like backyard trampolines, are hazardous enough that they are not covered by some homeowners insurance policies.

Simply owning potentially dangerous toys, however, won’t cause your home insurance rates to spike, according to CNBC

“Your rates don’t go up for having [dangerous toys] in your household but you may lose eligibility [for coverage],” Eric Kollevoll, owner of insurance agency Kollevoll & Associates of Pennington, New Jersey, told CNBC.

Liability is a concern when your child’s friends are visiting.

“When friends play on that equipment, there’s a big area of liability,” Kollevoll explained.

Although your home insurance policy would likely cover injuries that take place at your house, if the injury is serious and escalates to litigation, your liability coverage may not be sufficient, insurance experts warned CNBC.

“If you have a lot of toys where people can get injured, get as much no-fault medical as you can, and you probably want to get more liability coverage,” cautioned Jeanne Salvatore, senior vice president of the Insurance Information Institute.

“You need to have enough liability protection to protect your assets, and it’s relatively inexpensive,” Salvatore said. For another $200-$300 a year, you can purchase an additional $1 million in excess liability protection, she suggested.

Insurance experts urge checking your policy and putting in place coverage changes early, before your child or one of their friends gets hurt.

“If your house is party central and your kids have their friends over often, make sure you have additional liability protection just in case somebody gets hurt,” Salvatore told CNBC, “because stuff does happen.”

My daughter and my friend’s two children were jumping on an old trampoline at a baby sitter’s house this past summer. My friend’s son fell off the trampoline, which did not have the safety net enclosure, and broke his arm. She didn’t sue the baby sitter’s family, but I suppose that’s a route some people would go.

Do you have extra insurance coverage just in case someone gets hurt playing on one of your kids’ toys or at your house? Share your comments below or on our Facebook page.

Disclosure: The information you read here is always objective. However, we sometimes receive compensation when you click links within our stories.

Read Next
10 Products That Will Help You Save Money
10 Products That Will Help You Save Money

Sometimes, spending a little cash right now can save you a lot of money down the road.

How to Stop Living Paycheck to Paycheck in 8 Steps
How to Stop Living Paycheck to Paycheck in 8 Steps

Does it feel like your paycheck is gone the moment you get it? You can break that vicious cycle.

3 Cable TV Companies Hiking Prices for 2020
3 Cable TV Companies Hiking Prices for 2020

Still married to your cable company? Hold on to your wallet!

10 Items Every First-Aid Kit Should Have
10 Items Every First-Aid Kit Should Have

Take control of your health and safety by customizing your own first-aid kit with these Amazon purchases.

Here’s the Average Retirement Age in Your State
Here’s the Average Retirement Age in Your State

Are you on track to retire at the same age as most residents of your state?

View this page without ads

Help us produce more money-saving articles and videos by subscribing to a membership.

Get Started

Most Popular
11 Things Retirees Should Always Buy at Costco
11 Things Retirees Should Always Buy at Costco

This leader in bulk shopping is a great place to find discounts in the fixed-income years.

Over 50? The CDC Says You Need These 4 Vaccines
Over 50? The CDC Says You Need These 4 Vaccines

Fall is the time to schedule vaccines that can keep you healthy — and even save your life.

11 Senior Discounts for Anyone Age 55 or Older
11 Senior Discounts for Anyone Age 55 or Older

There is no need to wait until you’re 65 to take advantage of so-called “senior” discounts.

9 Things You’ll Never See at Costco Again
9 Things You’ll Never See at Costco Again

The warehouse store offers an enormous selection, but these products aren’t coming back.

8 Things You Can Get for Free at Pharmacies
8 Things You Can Get for Free at Pharmacies

In this age of higher-priced drugs and complex health care systems, a trip to the pharmacy can spark worry. Freebies sure do help.

These Are the 4 Best Medicare Advantage Plans for 2020
These Are the 4 Best Medicare Advantage Plans for 2020

Medicare Advantage customers themselves rate these plans highest.

The 10 Most Commonly Stolen Vehicles in America
The 10 Most Commonly Stolen Vehicles in America

A new model parks atop the list of vehicles that thieves love to pilfer.

9 Deep Discounts Available on Amazon This Friday
9 Deep Discounts Available on Amazon This Friday

These items are all steeply discounted — but the deals won’t last long.

7 Ways to Boost Your Credit Score Fast
7 Ways to Boost Your Credit Score Fast

Your financial security might soon depend upon the strength of your credit score.

19 High-Paying Jobs You Can Get With a 2-Year Degree
19 High-Paying Jobs You Can Get With a 2-Year Degree

These jobs pay more than the typical job in the U.S. — and no bachelor’s degree is required.

10 Reasons Why You Should Actually Retire at 62
10 Reasons Why You Should Actually Retire at 62

If you can, here are several good reasons to retire earlier than we’re told to.

5 Ways to Get Amazon Prime for Free
5 Ways to Get Amazon Prime for Free

Hesitant to drop $119 a year on an Amazon Prime membership? Here’s how to get it for free.

Do This in the Car If You Want to Avoid COVID-19
Do This in the Car If You Want to Avoid COVID-19

It takes just seconds to take this simple preventive measure.

15 Products You Need — Even If You Didn’t Know It
15 Products You Need — Even If You Didn’t Know It

Discover some must-have products on Amazon that you didn’t even know you were missing.

3 Ways to Get Microsoft Office for Free
3 Ways to Get Microsoft Office for Free

With a little ingenuity, you can cut Office costs to zero.

5 Keys to Making Your Car Last for 200,000 Miles
5 Keys to Making Your Car Last for 200,000 Miles

Pushing your car to 200,000 miles — and beyond — can save you piles of cash. Here’s how to get there.

26 States That Do Not Tax Social Security Income
26 States That Do Not Tax Social Security Income

These states won’t tax any of your Social Security income — and in some cases, other types of retirement income.

14 Things That Are ‘Free’ With Medicare
14 Things That Are ‘Free’ With Medicare

These services could save you money and help prevent costly health problems.

5 Things That Make Life More Meaningful for Retirees
5 Things That Make Life More Meaningful for Retirees

Retirees agree: These are the things that give them purpose and fulfillment in their golden years.

View More Articles

View this page without ads

Help us produce more money-saving articles and videos by subscribing to a membership.

Get Started

Add a Comment

Our Policy: We welcome relevant and respectful comments in order to foster healthy and informative discussions. All other comments may be removed. Comments with links are automatically held for moderation.