Having insurance for a car you use every day may seem obvious. But when it comes to all-terrain vehicles, many operators don’t feel the same way. In fact, industry experts consider ATV insurance to be among the most overlooked insurance policies available. In that spirit, here are seven reasons why every ATV owner should have an appropriate insurance policy.
#1. Your State May Require It
The first thing you should determine is if your state requires it, and it does vary from one state to the next. Additionally, states that do require it have different rules on when it’s required. New Jersey and Pennsylvania are examples of states that require insurance for all ATVs that require registration, which is most. Nebraska just requires it for highway use, and there are some states that just require if the ATV is used on public land—as opposed to privately owned property.
#2. Your Financer May Require It
Something else to consider is whether or not you’re leasing or financing your ATV. If you don’t own the vehicle free and clear, then someone else has a lien on your title and may require that you possess insurance or be in default of the loan or leasing agreement. This varies from one state to the next as well since states differ in what they allow lenders and lessors to require.
#3. ATV Insurance Covers Liability
States that require you to have insurance generally only require that you have liability insurance. This kind of coverage protects another person in the event that you are liable for injuries or property damage that they incur. Even if you aren’t required by law to have liability insurance, you may want to have it anyway just to protect yourself in the event that an accident does occur. If you hit another rider, for instance, you can be liable, and although your state may not require liability insurance, that doesn’t mean that the affected person won’t be able to seek compensation that will come out of your pocket.
#4. It Covers Bodily Injuries
Coverage is available beyond liability as well, and perhaps most important among them is protection for bodily injuries. If you’re riding your ATV and hit a low-hanging branch, which results in serious injuries, you’ll generally be on the hook for medical and rehabilitative care. Even if you have medical insurance, the cost of care can exceed that coverage. With coverage for bodily images, you protect yourself financially in the event that an accident does occur. This can protection can extend to passengers in states that allow ATV passengers. Be mindful that many do not.
#5. It Covers Against Collisions and More
If you hit another rider and have liability insurance, that covers you for damage to their vehicle as well as their medical care. It does not cover your vehicle. In other words, if you crash your ATV into another ATV or a tree, you’re on the hook to pay for those repairs. If you have collision insurance, however, your policy will cover those costs—as long as you weren’t doing something unlawful. You can also get comprehensive insurance that can cover many other aspects of your ATV.
#6. It Also Covers Against Uninsured Motorists
Something else that collision and comprehensive insurance can cover is injuries and property damage caused by an uninsured ATV operator. If an uninsured operator hits you and is at fault, they owe you. You may have to sue them, but if they lack the assets to cover the court’s decision, you may be out of luck. What if they declare bankruptcy? In either case, you certainly won’t get that money as soon as you need it. Protection against uninsured motorists ensures that you do.
#7. ATV Insurance May Be Cheaper Than You Think
Another reason to consider ATV insurance is that it’s probably a lot less expensive than you think. There are policies available for less than $100 a year. You may have the option to save even more by packaging policies. Let’s say you already have car insurance and home insurance through the same provider. That company is likely to give you a discount on ATV insurance that makes it even cheaper.