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Often, people consider the types of insurance policies that they will need to cover their home, their health, and their vehicles, but they may overlook some types of insurances that are quite vital. One type that you may not have considered in the past is ATV insurance. Those of you who own ATVs need to make sure they are properly insured right away. Those of you who are thinking of making an all terrain vehicle purchase should aware that insurance policies are available.
However, if you are not familiar with this type of policy, then you most likely have quite a few questions about how it works and what it covers. In order to better understand the insurance, then consider the information below. You will find answers to the most common questions about ATV insurance so that you can purchase the policy with the knowledge that you need.
1. What type of physical damage will this kind of insurance cover? These policies are designed to offer coverage of your all terrain vehicle and any damage that it may suffer. Since ATVs are often driven in extreme conditions, the insurance can be quite valuable.
Consider this: the cost of a new vehicle can range from several thousand to ten or more thousand dollars. These vehicles are quite pricey, and if you completely total your current ATV, you will either have to be prepared to dish out the cost of a new vehicle or go without. That would be the case if you did not have insurance. With a quality ATV policy, you will be able to rest assured knowing that it will be covered and paid for if it were to need to be replaced.
2. Does the insurance also cover any injury that the riders may suffer? If you currently own one of these vehicles, then you know that they can be quite dangerous. Injuries do happen on a regular basis, and thankfully, most of them are minor. However, major injuries can be incurred and the medical costs could soar upwards of ten thousand dollars. If a hospital stay is required, you could even face hundreds of thousands. This is not very appealing for anyone.
The good news is that ATV insurance policies will cover bodily injury. If you are hurt while riding your vehicle, you can count on your insurance policy to pay hospital and doctor’s bills. This could potentially save you thousands of dollars.
3. What happens is injure someone else in my ATV crash? Obviously, this is something that you hope will never happen, but it is a very real possibility for which you need to be prepared. Called liability in the insurance realm, injury to another party can be costly since you will be responsible for the medical bills that are incurred.
Proper insurance will include a liability clause, meaning that any injury your all terrain vehicle does cause to another person will be paid for by your insurance policy.
4. Will other property be covered by the insurance? Property damage is a part of the ATV policy for very good reason. Often, crashes involving all terrain vehicles also involve another piece of property like a fence, a wall, a house, or a garage. If the property belongs to someone else, you could be held liable for the cost. That cost can be quite high, ranging from a few hundred to several thousand dollars depending upon the extent of the damage.
In order to protect yourself from the expense of paying for property repairs, a proper ATV policy is needed. This insurance will pay for the cost of property damage, whether the property belongs to you or someone else. This could save you quite a bit of money if you were to be involved in a damaging accident.
Many people do not consider the need for this type of insurance. Often they assume that, since they drive their ATV in the woods or on their farm, they do not have to worry about cost or insurance. However, neglecting to obtain the right coverage could end up costing you thousands of dollars in the instant of one accident. Now that you know the answers to your basic questions, you will be prepared to purchase the policy that you need.
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ATVs are one of America’s most popular recreational vehicles. Made by a variety of domestic and international companies, including Honda, Polaris, Yamaha, ADLY, and Kymco, ATVs appeal to riders of all ages. However, no matter what age the owner may be, there is no doubt that an ATV should carry its own insurance policy.
Many ATV owners are under the impression that their ATVs are covered by their homeowners’ policy or by their vehicle policy. While this can provide a measure of coverage, it often doesn’t apply to ATV use off the main property or cover injuries. Thus, rather than settling for incomplete coverage, it is better to get a dedicated ATV insurance policy.
Dedicated ATV insurance coverage is available from mainline insurance companies as well as specialty providers. Depending on your region, you may find that specialty providers offer better coverage, or you may find that your choices are limited to mainline providers. The only way to truly evaluate what is available, of course, is to reach out and get an ATV insurance quote.
Information Needed For An ATV Insurance Quote
Getting an ATV insurance quote is easy to do. You can get quotes over the Internet or by calling a specific insurance company. To save time on the overall process, however, you will need to have the necessary information at hand to get your quote.
Most quotes require information about your personal driving history, your previous coverage for ATVs, and data about the location where the ATV will be stored. You will also be asked extensively about the age, make, model, and accessories (such as safety devices) of the ATV to be insured, so be sure to have this information on hand. Finally, you will have to select your coverage limits, which may be influenced by local minimum requirements in your region.
Deductibles are also required to be selected in the quoting process, so put some thought into this element of your insurance needs. Generally, the higher your deductible, the lower your rates will be. However, put them too high, and you may not find the value you want in your insurance plan, so think carefully about what you want.
Common ATV Insurance Policy Features
Many ATV insurance policies have been built on the same model as motorcycle policies. Thus, if you have a motorcycle, you will notice that same general features. As an experienced buyer or a novice shopper, the main features of ATV insurance coverage are detailed below:
- Comprehensive Coverage: Comprehensive coverage takes care of damage to your ATV that isn’t caused by an accident. Animals chewing through wires, storm damage, vandalism, and theft are some examples of protected events covered by comprehensive ATV insurance.
- Collision Coverage: Though ATV to ATV collisions are rare, ATV collision coverage actually includes them along with coverage for running into trees, rocks, or other obstacles. However, it is important to note that many policies will exclude minor cosmetic damage from collisions, and collision damage deemed willful on your part.
- Personal Injury/Property Damage Coverage: This coverage helps protect you if you are injured while using the ATV, or if you damage property. Many times this includes coverage for injuries to others caused by your ATV.
ATV Insurance Discounts Available
ATV insurance coverage can be expensive, but you can save by taking advantage of discounts available on ATV insurance. These discounts are available from mainline and specialty insurance providers. They fall into the main categories of safety discounts, multi-line discounts, and multiple vehicle discounts.
Safety discounts can be awarded for two items. The first item is safety equipment you have had installed on your ATV, such as an anti-theft device. The second kind of safety discount is generally awarded when you have completed a recognized operator safety course.
Multi-line discounts are offered when you have more than one policy with the insurance carrier, such as combining home or vehicular coverage with your ATV policy. Multiple vehicle discounts are offered when you insure more than one ATV with the same carrier.
ATV Insurance Exclusions To Watch
One element to be aware of when you purchase your ATV insurance coverage is that there are exclusions built into most policies for certain activities. Many of these exclusions are for intentionally dangerous activities, and unless specifically endorsed, racing activities are almost universally excluded. Thus, if you want to use your ATV for racing, you will need to double check that your ATV insurance policy doesn’t explicitly exclude racing.
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