Insurance premium rates for all terrain vehicles differ from that of auto insurance. In case of cars, insurance premium is somewhat on the lower side as compared to all terrain vehicles. Both car insurance and ATV insurance are no doubt similar when compared to their coverage features. ATV insurance also has different covers like collision coverage, comprehensive coverage, property damage cover, bodily injury cover and medical payments coverage. You should be careful to have enough coverage limits for your ATV and without any compromise for low premiums.
The insurance premium calculation depends generally on evaluating the amount of risk involved in insuring that particular vehicle and the driver. Insurers generally consider a few factors for calculating the risk to arrive at the individual’s insurance premium rate. Factors like the driver’s age, gender, driving experience as well as his past driving record and the age, model and make of the ATV are taken in to account. After taking all these information, the insurance premium is calculated and a particular rate is fixed for the person applying for ATV insurance.
Any individual who is likely to take ATV insurance should do some research as well as comparison shopping before purchasing his policy from a particular insurance company. There are a few insurers who offer stand-alone ATV insurance policies. Some companies also insist on raising your deductibles for offering lower premiums that again translates into savings on premiums for you.
Check for discounts offered by insurance companies
It is important to check if insurance companies providing ATV insurance are offering discounts for new and existing policy holders. Ensure that you get all the available discounts you qualify for. Many companies provide multi-policy discounts for their policy holders. In case you have already taken car insurance from an insurance company and are planning to take ATV insurance or home insurance also with the same company, then the company might offer you some discount. This will help in reducing your insurance premium amount due to the multi policy discount.
Besides multi-policy discounts, insurance providers also offer multi-vehicle discounts. You might get a good discount in case you insure all of your vehicles, ATV’s, boats and snowmobiles with the same insurance company. Membership discounts for certain clubs or associations are also offered. If you are ATV club member or a member of any riding association, you might get a discount on your all terrain vehicle insurance.
All terrain vehicles (ATVs) have good mileage and can travel at a speed of 60-70 miles per hour through trails of mud or hills. In view of this, safety factor has to be considered while operating ATV’s. Many people driving cars or ATV’s take safety course training. This will enable you to learn more about safety options and thereby help in driving your vehicle safely. There are insurance companies who offer discounts for drivers who have undergone safety course training.
In all, availing these discounts can you at least 5% to 30% on your ATV insurance premium.