Do you consider all-terrain vehicle insurance an optional expense? If there is no lien against your ATV and you do not live in a state that has mandatory coverage requirements, ATV insurance may seem like a discretionary expense in your budget. In fact, some may forego coverage in an effort to save money, only to end up paying the price later. The truth is the cost of ATV insurance pales in comparison to the exorbitant expenses you might otherwise have to pay for personal vehicle repairs and liability expenses. Furthermore, there is no excuse for being uninsured or underinsured when ATV insurance can be so affordable. Continue reading to learn more about how ATV insurance can save you money with inexpensive monthly premiums.
How Much Does ATV Insurance Cost?
There are many factors that contribute to the cost of ATV insurance premiums. For example, a person who purchases a used four-wheeler to ride recreationally a couple of weekends each month is likely to pay much less than someone who buys a brand new $20,000 ATV. Factors that contribute to ATV premium costs include:
- The type of ATV you drive
- How much your ATV is worth
- How and where you store your ATV
- Where you ride your ATV
- Who drives your ATV
- The age of the person driving
- Whether you ride with passengers
- Coverage for ATV accessories
- Your personal driving record
- The amount of liability coverage you need
Ways to Lower ATV Insurance Premiums
Although ATV insurance is typically a very affordable type of coverage, there are ways of reducing monthly premiums. A higher deductible, for example, means bigger out-of-pocket costs when filing a claim in exchange for lower upfront premiums. Another way of reducing the cost of ATV insurance is taking a driver safety course. These courses provide hands-on training for children, teens and adults – often at little or no cost. Not only do they produce safer drivers, but ATV owners who take the course may also qualify for a discount on insurance premiums.
Shop and Compare ATV Insurance Rates and Policies
Keep in mind that a cheap policy is not always the best policy. Some insurers will offer you a ‘bare-bones’ policy with minimal coverage that leaves you with high out-of-pocket expenses when it’s time to file a claim. Cutting corners to lower your premium could leave you with significant risk exposure. Look for policies that will provide adequate liability, full coverage for your off-road vehicle, and coverage for your passengers or other drivers.
Whether you have an existing ATV insurance plan or are in need of new coverage, we urge you to contact an ATV insurance agent to discuss policy options and ways you could qualify for lower premiums. We will evaluate your coverage needs and help you determine which policy, coverage and deductible limits will best fit your needs. Call us today to request a no-obligation consultation. We look forward to serving you soon.