Why You Should Insure Your ATV

There is nothing quite like the feeling of freedom you get when you take your ATV out for a ride. But even on the best days, accidents can happen to you and your vehicle. Getting insurance for your ATV (whether it’s new or used) is an important step that can provide peace of mind knowing you are prepared for whatever life throws at you.

Read on to explore the ins and outs of ATV insurance, including the types of coverage available. 

ATV Insurance

ATV insurance is similar to car insurance. While an auto insurance policy would cover your car or truck, ATV insurance policies are specifically designed to cover ATVs.

Many ATV insurance policies have special provisions specific to off-roaders. Some provide for seasonal usage, for example. If you only drive your ATV during certain times of year, this is an important consideration.  

What Does ATV Insurance Cover?

ATV insurance policies cover the costs involved in repairing or replacing your ATV in the event of a covered accident. Some policies will also insure your ATV for some types of damage that are unrelated to an accident (fire, theft, and more). 

Insurance can also help with medical expenses if you or someone else is injured in an accident. This is especially important if there are kids or youth driving your ATV. Some policies may also help replace lost income due to injury. 

If you are at fault for an accident, basic policies can help cover legal costs, in addition to damage and personal injury. 

Wondering whether you can insure all your vehicles together? The answer is yes. Some insurers can also bundle car and ATV insurance, which can save you money. 

Different Types of ATV Insurance 

In Ontario, all ATV insurance covers third-party liability, personal injury, direct compensation property damage, and uninsured motorists. 

Third Party Liability Insurance 

This is a fancy name for liability insurance. You are the first party, and you buy insurance from a company (the second party). If you are at fault for an accident, this covers the third party (the person or property you hurt or damaged). 

This type of insurance protects you against the expenses that can arise if you are at fault for an accident. It includes repair or replacement costs, medical, and legal expenses.

Personal Injury Insurance

Personal injury insurance can help with rehabilitation costs if you’re injured while ATVing. Some policies can help with lost income. 

The insurance can also help your loved ones in the unfortunate event of death due to an ATV accident. Policies can help with funeral costs, and some can even provide next of kin with extra money. 

Direct Compensation Property Damage

Direct compensation property damage can cover you if someone else is at fault for damaging your ATV. Instead of waiting for the at-fault driver’s insurance company to repair or replace your ATV, this allows you to deal directly with your own insurance company first.   

Uninsured Motorists

This protects you in the event that another uninsured motorist causes damage to you or your ATV. It covers repair or replacement fees, medical expenses if you are injured, and funeral costs. 

Extras

Many insurance companies also offer extra coverage like collision or upset insurance. This will help you with repairs if you’re in an accident, regardless of who is at fault, or if you rolled your ATV, for example. 

Comprehensive coverage is another important add-on that protects against damage that’s not related to collisions. If you ran into a deer, the damage would be insured under this type of policy. It also often includes damage or loss due to theft, vandalism, fire, and more. 

How Much Does It Cost?

Like car insurance, the costs of ATV insurance vary depending on the type of ATV you have, your driving record, and history of past claims. 

On average, it ranges from $450-$2,000/year. 

Is ATV Insurance Mandatory In Canada?

Insurance policies for ATVs vary by province. In Ontario, ATV insurance is required if you plan to take it anywhere off your property, even just to cross a public road. 

If you plan to keep it on your property 100% of the time, ATV insurance is still recommended. Your ATV isn’t covered by homeowners’ insurance. You also wouldn’t have any personal injury coverage in the event of an accident. 

The Takeaway

Life is unpredictable, especially when you’re off-roading. Having a good insurance policy in your back pocket is vital before you hit the trails. 

Make sure to shop around, and compare each policy before you decide on one. Policies do vary depending on the company you deal with. Taking time to research your options could save you money in the long run.  

If you need a recommendation for a good insurance broker, drop us a line, we’d be happy to help!