As fall begins to move into the state (and winter soon behind), some people are happy to cozy up in front of the fire with their favorite book and hot beverage. However, we know Colorado’s outdoor enthusiasts start to think about trading in their boats and jet skis for all-terrain vehicles, utility terrain vehicles, and snowmobiles. Whether you are heading into the mountains for elk hunting or just wanting to ride some trails, we want to make sure you are protected in case you have an accident with your off-road vehicle.
First things first, your home insurance does not provide protection for any motorized vehicles unless they are used solely to service your property. So, before you take your brand new RZR out on the trail, lets talk about insurance options.
Physical Damage Coverage
The coverage most people think of when asking to insure their off-road vehicle is protection if it is stolen or damaged. This physical damage coverage is provided by including Comprehensive and Collision on your policy. In most cases, it will work similar to an auto policy and pay up to the actual cash value of the vehicle at the time of loss minus your deductible. For new vehicles, ask about total loss replacement coverage to avoid depreciation being withheld if your vehicle is totaled during the first year.
Custom Parts & Equipment
The Comprehensive and Collision coverage mentioned above pays for the stock version of your ATV or snowmobile. Of course, part of the fun is adding the accessories and making your “toy” exactly what you need. This is where Custom Parts and Equipment (CPE) coverage comes in. Most policies include a minimal amount of coverage (usually $3000) for some basic modifications, but additional coverage may be purchased. This can be important as those windshields, winches, lights, and cargo boxes can add up quickly. The CPE can cover these items without applying depreciation which is a great benefit.
Safety Riding Apparel
Other items you have likely invested in are your helmet, gloves, eyewear, etc. A small amount of coverage is included when you select comprehensive and collision coverage. However, we should discuss if that meets your needs to replace these items if you are involved in a collision.
Bodily Injury & Property Damage Liability
Liability is usually the last thing people think about when it comes to off-road vehicles. Unfortunately, you don’t have to be on a roadway to be liable for the injury or damage you cause to others. Accidents can happen as simply as coming around a blind bend and not realizing there was a UTV on the other side. Just like with an auto accident, you could be liable for the damage as well as injuries caused to the driver and passengers in the other UTV. We recommend matching your liability limits on the off-road vehicle policy to the limits you carry on your autos.
Uninsured Motorist Bodily Injury (UMBI)
Like UMBI on your auto policy, this would provide coverage to you and passengers of your off-road vehicle if you are injured by another driver who does not carry liability insurance. It is definitely a coverage worth a discussion with your agent since not all trails require vehicles to be insured.
There are other specialized coverages and discounts that may benefit you so a personal review of your situation by one of our agents is always best. If you have an ATV, UTV, or snowmobile or plan to purchase one, give Jan or Lori a call today at 303-232-3100 and talk through your options.