You must have wondered about buying yourself an ATV (ALL-Terrain Vehicle.) Canada has many trails that are best for an ATV experience. However, getting an insurance policy for your ATV is something you shouldn’t ignore.
The first thing you need to do is go through multiple motorcycle insurance quotes to find the most affordable rates. The right policy can help protect your ATV, compensate for its damages, and offer financial aid for any legal matters. When going for an insurance company, check if their coverage fits your vehicle and if you can afford it.
What is An ATV
The exact definition of an ATV (all-terrain vehicles) varies from state to state. However, the standard definition is that any vehicle with two or more wheels meant for off-road driving qualifies as an ATV. They are not meant to be used on major roads and highways. In fact, you will not even be licensed to drive an ATV on the highway.
Also, even if you have a UTV, utility vehicle, or side-by-side, it is likely to be considered in the same category as an ATV when you are looking for motor insurance. That’s why it’s always advisable to check with your own state’s insurance laws to see before you purchase an ATV.
Contents
ATVs are available in different builds and are useful in different situations. Depending upon your ATV’s size and shape, there can be variations in its policies, as well as the premium rates:
Some insurance providers offer specialized policies for snowmobiles. These ATVs are used only in the winters, and thus premium rates aren’t too high.
These are 4-wheeler motorbikes that have high speed and minimum driver safety. You can expect to pay a higher premium due to high-risk levels.
These are golf carts or go-karts that have a slower speed and are relatively safer. On-Road ATVs come with seatbelts and cages to protect the drivers.
Utility ATVs are primarily used for work purposes and have a non-sporty build. They are also more affordable than their counterparts.
An ATV poses high risks of crashes, accidents, and theft. It is an expensive vehicle that needs proper financial coverage. In Canada, it is mandatory to have insurance for your off-road ATV. So if you own one, or wish to buy an ATV, make sure to get yourself a policy. It can compensate for vehicular damage and help pay for your medical expenses if you are injured in an accident.
The coverages you need for your ATV depend upon the province you are in. Each Canadian territory has an exclusive policy for its ATV. Let us look at the list below to know the different coverages available under ATV insurance:
Comprehensive ATV policy offers compensation for unforeseen circumstances like theft, vandalism, an ice storm, or a boulder hitting the bike. The coverage is exclusive for areas with a high risk of theft, burglary, or natural calamities.
If your ATV collides with another vehicle, your collision coverage can offer part of the damage expenses.
If you are at fault for damaging people’s properties or causing physical injuries to them, liability insurance can reimburse you for the expenses. Depending upon the province, there will be a minimum coverage limit specified for it.
Apart from the above coverages, you can opt for the following add-on coverages for your ATV policy.
If you crash against bystanders, car drivers, or bikers, the medical liability activates to pay part of the treatment bills. Medical coverage is essential if you have health insurance with a high deductible or frequently drive at high speeds (use ATV for racing.)
Many ATV users utilize the vehicle for activities like plowing, races, exploration, etc. Each of these activities needs extra equipment and coverage to reimburse for their damages.
If an uninsured or underinsured motorist crashes against your ATV, this policy comes into play they cannot compensate for the damages.
You can speak to the insurers of your province to know which of these coverages can help financially protect your ATV and yourself.
The ATV insurance helps cover property damages and liability compensations. They are for off-road driving purposes and can sometimes be excused from insurance policies if you drive only inside your property. Of course, make sure to contact your local Ministry of Transportation to know if you need the ATV insurance coverage.
While many Canadian car insurance companies offer ATV insurance, you might find some insurers who only specialize in this policy. Whichever coverage type fits your ATV needs is up to you.
The cost of your ATV insurance policy depends on the following factors:
A driver has to fulfill specific criteria to be eligible for an ATV insurance policy. You might not get the approval of an ATV insurance, if:
Having in-depth knowledge about ATV insurance can help you choose the right policy for your vehicle. Remember that not all types of coverages are mandatory for your ATV. Consider consulting professionals to understand what is absolutely necessary for your region, as the requirements vary across Canada. If you are looking for an affordable ATV policy that covers most risk factors, check out Surex Insurance today for the best offers.
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