Around our area in Northwest Ohio is a great place for ATVs! Regardless of what season it is people find a reason to get their quads out and ride, but Summer is the biggest season for riders to get out and have some fun.
Insurance is one of those things that many people don't even consider when riding their ATV. It does not seem as big of a deal as buying a new car or a new house but not having ATV insurance could end up costing you big time in the end.
The true need for ATV insurance
I think sometimes we focus so much on what is obviously covered, we don't think about the other advantages causing us to fail to see the value in the service. Of course part of the reason for needing ATV insurance is to cover your ATV, but what else really is there?
Other individual's property - It is not always the driver's fault, but sometimes damage to another person's property can occur while riding. You may not mind paying a little bit to fix up your own ATV but what if you have to also provide payments for damages done to another's property?
Injury to others - Sometimes it's inevitable for someone to get hurt. This could occur if a friend road your ATV and somehow got hurt or if someone was accidentally hit. Whatever the reason, if someone is injured due to your ATV, you are ultimately at fault and will need to cover these damages financially.
Personal injury - Imagine riding doing everything correctly and another motorist not paying attention injures you. Unfortunately this person does not have any insurance and therefor can not pay for your medical payments... *Ouch* Well your ATV insurance can cover you with an under insured motorist coverage.
In most places it is not a law to insure your ATV so the coverage is entirely up to you. I would however, ask myself a couple questions before I make up my mind to purchase or not to purchase a policy. 1) Can I afford to pay for a new ATV or damages to my own ATV is something were to happen? 2) Can I afford to pay someone back in case I cause damage to their property? 3) Can I afford to pay someone else's medical payments if they end up injured 4) Will my health insurance cover me if I am injured or can I afford to pay if I have an emergency?
Finding out if you have a need can help you determine if an ATV policy is right for you. Ask yourself the above questions and get a feel for how useful a policy is or is not for you then continue reading...
When an ATV insurance policy is not needed
Believe it or not, but for someone who works for an Ohio insurance agency I am telling you that you may not need insurance. There may not be many, but there are a couple circumstances that may not require you to have an ATV policy.
When you are only riding on your land
When your ATV will not be rode on
When using your ATV for farm work on your own farm
It sometimes is far more cost efficient to allow your umbrella coverage to protect your ATV opposed to an actual ATV policy. In the event that a friend is injured while riding your ATV or there is vandalism/theft/damages to your ATV your umbrella policy should cover that. Double check with your agent to know for sure.
When you really should get an ATV insurance policy
The need for insurance really boils down to if you can afford to pay for losses on your own account. Many of us can afford a small monthly premium and the deductible but would not be able to pay for the thousands of dollars in damages that the insurance company provides. It is really just being smart about money.
Here are some ways ATV insurance can be a smart investment:
When you do not want to pay a homeowners deductible - I mentioned above that you could use your umbrella insurance to cover your ATV, but the problem with this is the deductible. If you have an older ATV worth $2000 but your deductible is $1000 is it worth it to go 50/50 with the insurance companies or just pay the difference yourself?
When you decide to ride off your property - As soon as you leave your property your homeowners insurance will not extend to your ATV. Anything can happen to you or to someone else due to your ATV being off your property.
If your state requires it - I'm sorry if you are forced to read all of my blog just to find out that your state requires you to have ATV insurance anyways. But the law is the law! Heck your ticket for not having insurance may be more than your actual insurance policy!
Honestly, the most important thing is that you are protected somehow. I know it is very important not to throw away money on unnecessary things (like too much insurance) but the affects of not being insured could be financially devastating. Talk with a trusted agent to identify the most cost efficient way for you to insure your ATV; just call (800) 848-2788 to quickly get your insurance cleared up so that you can go out and ride safely.