Are you one of the 35-million Americans who enjoy exploring the great outdoors on the back of an ATV? If so, you may not have considered that riding an all-terrain vehicle puts you and others at risk each time you start up the engine. If you think that property insurance will cover your personal loss and liability expenses, you are mistaken. Continue reading to learn more about the limitations of homeowners insurance with regards to ATV coverage and find out why a separate ATV insurance policy may be right for you.
My Homeowners Policy Covers My ATV – Do I Still Need Separate Coverage?
It is true that some homeowners insurance policies will provide some coverage for ATVs and UTVs; however, the protection is typically very limited. For the majority of policies, damages and liability coverage only extend to use on personal property. Once an all-terrain vehicle crosses onto another person’s property or is put on a trailer to be hauled to another location, it may not be covered by homeowners coverage at all.
Even if you only use your ATV at home and find out that your homeowners insurance provides adequate coverage for your vehicle, it may still be beneficial to purchase a separate policy. After all, a homeowners insurance deductible can easily reach $2,000 or more, which may exceed the cost of your losses and negate the value of filing a claim, especially since doing so may cause your homeowners premiums to rise.
Of course, there are some cases in which an ATV insurance policy may be required, rather than optional – even if your homeowners insurance provides coverage. This is especially true if you still owe money to a lender you financed your ATV through or if you live in a state that has mandatory ATV insurance laws.
Still Not Sure if You Need ATV Insurance?
If you are still on the fence, there are a few questions you can ask yourself to help determine whether ATV insurance is right for you:
- Can you afford to replace or repair your ATV if it is stolen or you are involved in an accident?
- Can you afford to repair or replace someone else’s ATV if it is damaged in an accident you are at fault for?
- Can you afford to repair or replace someone else’s personal property if it is damaged in an accident?
- Can you afford to pay for someone else’s ATV accident-related medical bills?
ATV insurance can give you peace of mind without the guesswork of wondering whether your property insurance provides adequate coverage. It can pay for a portion of your medical bills, or someone else’s, as well as the cost to replace all property, lost or damaged in an accident or other covered events.
For more information about ATV insurance or to find out whether your homeowner’s insurance policy provides you with enough coverage to protect your all-terrain vehicle, contact our office to speak with one of our helpful agents. We can evaluate your existing coverage. Call us today to request your free ATV insurance quote and find a policy that fits your needs. We look forward to serving you soon.