Just like you, all insurance policies are unique. Although this information can help you navigate your insurance questions, this is not insurance advice and some details may not pertain to your specific risk. If you have a question about your insurance policy or coverage, never hesitate to give us a call.
ATV Insurance
All terrain vehicles (ATV) have a wide range of utility but are most commonly used for a good time! Of course, we hope your adventures are full of fun and games, but things happen, and you need to make sure you are properly insured.
A common misconception is that recreational vehicles (such as ATVs) do not require insurance. Even if these vehicles are solely driven on private roads, we never recommend leaving them uninsured. Theft, collision damage or bodily injury can occur anywhere. Cassidy & Young offers ATV-specific policies that ensure you are properly protected.
Just like your auto insurance policy, there are many different factors that determine how much the insurance will cost. As mentioned above, your driving experience is important but that’s not the only thing that is taken into account. Insurance companies look at your claims history, where the ATV is stored, if you have any other policies with them, and type of ATV.
Mandatory Coverages
Liability Coverage
With a recommended coverage of at least $1-$2 million, liability coverage covers you for things like legal fees and the cost of settling a claim if you are responsible for causing damage and/or injury.
Direct Compensation Property Damage
While no longer considered mandatory by the government, our brokerage considers this coverage essential. This coverage applies if your vehicle and/or contents are damaged in an accident that is the fault of another driver. In other words, this is the coverage that you would use if you were not at fault in an accident and your vehicle sustained damage which required repair. Although not common to have a deductible on this coverage, it is an option and can save you money on your premium.
Accident Benefits
This coverage is required in the event you are injured in a car accident and require additional compensation to aid in your recovery. Types of compensation are, but not limited to, income replacement, medical treatments and rehabilitation.
Due to government changes in 2016, which altered the standard coverage available to you under this category, we recommend increasing your accident benefits limits. For more information on this coverage, please call our office at 647-727-4100.
Uninsured Motorist
There are those who are driving without insurance coverage on their vehicles. While we cannot control what others do, this coverage ensures you are not left exposed due to someone else’s negligence. Uninsured Motorist covers you for damage and injuries caused if you are in an accident with a driver who is uninsured or are involved in a hit-and-run accident where the other driver was at fault.
Elective Coverages
Use of Recreational Vehicles by Unlicensed Operators
Because ATV’s are commonly used on privately owned land, they tend to be accessible to all family members. This endorsement allows underage, unlicensed operators to use the ATV while the vehicle is not being used on a public highway. Essentially, it makes sure that coverage would extend to these operators as long as the conditions of the endorsement were met.
Physical Damage Coverages
Collision
Collision coverage is the one that kicks in when you are at fault in an accident. This coverage is subject to your policies deductible, most often ranging from $500-$2000 and covers you for the cost of repairs/ replacement of your vehicle.
Comprehensive
This coverage complements your collision coverage by stepping in for events that can occur while you are operating your vehicle, while it isn’t in use or for theft. Specifically, comprehensive coverage covers you for fire, theft, lightning, vandalism, glass repair and flying objects. This coverage is also subject to your policies deductible.
All Perils
All Perils is an umbrella physical damage coverage that combines collision and comprehensive coverages but also covers you for the theft of your vehicle by someone who lives in your household or is your employee. This coverage is subject to your policies deductible.
Exclusion
Another prominent exclusion for recreational vehicles is the OPCF 9 Marine use exclusion. This exclusion stipulates that coverage will be removed if the vehicle is being used on or in water.