ATV Insurance Policies
Insuring your all-terrain vehicle (ATV) is less fun than using it, but there are reasons why you should get the right policy for your vehicle. Although it is not required by law, many state parks do require you to have a valid policy to ride on public land. Also, though your homeowners policy may provide some coverage, it likely won't pay for damage to the vehicle and may cease entirely if you are not riding the ATV on your property.
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Insurers
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ATV insurance is a specialty type of coverage, but you don't have to seek a specialty insurer to buy a policy. Many major insurance companies, such as Progressive, GEICO and Nationwide, sell ATV policies under their brand. The Farmers Insurance Group sells this type of policy through its Foremost company. Each insurer sets its own guidelines as to the types of vehicles it covers and the protection it offers. GEICO, for example, will not insure three-wheel, six-wheel or eight-wheel vehicles or ATVs with engines smaller than 150cc.
Standard Coverage
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You can craft your ATV insurance policy to fit your needs. Like auto insurance, basic ATV policies carry liability coverage to pay for injuries and damages for which you are legally responsible after striking someone with your vehicle. If you choose to insure your vehicle against physical damage, you can buy comprehensive and collision coverages as well. Collision pays for damage that occurs when you strike another vehicle, a tree or even a large rock, while comprehensive pays for losses such as theft, vandalism and flood.
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Uninsured and Underinsured Motorist
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Uninsured and underinsured motorist coverage is especially important with ATV insurance, because no one requires riders to carry coverage of their own. However, this does not prevent an uninsured rider from causing you injury or damaging your vehicle. If you must miss work because of your injuries, this coverage pays your lost wages as well. Progressive Insurance notes that some states permit uninsured motorist property damage coverage as an alternative to collision coverage, though some exclusions may apply.
Specialty Coverage
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Some insurers offer certain types of coverage that are designed specifically for ATVs. For example, Nationwide Insurance offers up to $30,000 for custom parts and equipment you may add to your vehicle after you buy it. If you purchase comprehensive coverage, this limit can increase by an additional $3,000. With collision coverage, you get up to $2,000 in coverage to protect your safety apparel, such as your helmet and gloves. Some insurers allow you to buy an original equipment manufacturer (OEM) endorsement, which requires claims adjusters to repair your ATV with only new parts made by the vehicle's original manufacturer, rather than aftermarket or used parts.
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References
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