There are plenty of places to ride an ATV (all-terrain vehicle) or UTV (utility type vehicle) in Ontario and surrounding areas. These fun off-road vehicles are idealistic for weekend getaways with friends and family. But like any vehicle, there are dangers involved. The risks with driving an ATV or UTV can be far more dangerous than riding a standard automobile. That is due to the design of the vehicles and that you use them inside a rough terrain environment. You may be wondering about ATV and UTV insurance coverage. We’re here to answer some questions.
ATV or UTV: Do I Need It?
After you purchase an ATV or UTV, you will need to have it registered, buy insurance, and familiarize yourself with trail rules and regulations in your area. You will also need to obtain the right permits for each trail you ride on.
In Ontario, residents who own an ATV are required to carry a motor vehicle liability policy on all ATVs and UTVs. If your vehicle is not insured, you are not allowed to use it anywhere except on your property. Although you don’t need insurance if you use the vehicle on your property, it is still highly recommended that you do so.
We recommend liability insurance because it protects in the event of an accident or lawsuit. The suggested amount of coverage is at least $2 million. The suggested amount is due to the growing trend of lawsuits of this nature, requiring a minimum of $2 million payout.
How Much Does ATV Insurance Cost?
On average, your ATV or UTV insurance policy will cost between a few hundred dollars to over one thousand dollars each year. The cost will vary from one owner to the next. Therefore, you shouldn’t base your price on how much a friend or co-worker pays for their policy.
You can help keep the cost of your insurance premium low by having multiple insurance policies with the same company. Doing so will allow you to receive a multi-policy discount with most ATV insurance companies. Many people are able to receive a discount of as much as 40% whenever they combine their ATV insurance policy with their regular automobile insurance policy.
The Different Factors that Determine How Much Insurance Costs
Finding the right ATV insurance policy can be a difficult task; that’s because there are so many factors that go into the overall price of your premium. And ATV insurance isn’t as common as auto insurance, so there is less common knowledge out there about it.
Several factors help determine how much you will pay for your ATV insurance premium. The cost would be around the same for a UTV vehicle as well. These factors can include:
- The age of the driver.
- Any previous insurance claims or tickets.
- The size of the vehicle.
- Top speed of the vehicle.
- CC or Engine displacement.
- The value of the ATV.
All of these factors combined can have an impact on your ATV insurance, making it either higher or lower than you expected. You should consider this information when you are purchasing an off-road vehicle. You might consider buying a brand-new model, but don’t want to be stuck with the high insurance premiums. Perhaps you should consider buying n older used model ATV instead. Or one that isn’t as powerful. Doing so will help to significantly decrease the amount you pay for your insurance policy.
Additional Coverage Options for ATV Insurance in Ontario
Comprehensive and collision coverage is another good add-on option. However, keep in mind that the higher the value of your ATV or UTV, the higher your premium will be with this insurance coverage.
Accident benefits coverage is included in standard liability policies. This coverage can consist of income replacement, medical rehabilitation coverage, attendant care, and payment for a caregiver. It can also help pay for death or funeral benefits as well.
Contact Duliban Insurance Brokers for More Information
At Duliban Insurance Brokers, we want you and your family to stay safe while having fun with your ATV or UTV. But we also know that accidents can happen. If a situation were to arise your policy will be there to protect you based on the coverage you’ve selected. This may include costs of property damage, bodily injury, accident benefits as well and physical damage to your vehicle. We offer insurance through some of the top insurance companies in the area, including Wawanesa, Intact, Aviva, and Trillium Mutual Insurance.
To learn more about the cost of insurance for ATVs and UTVs, contact us at 1-855-385-4226. Our licensed professionals will be happy to answer any questions you have.
