I hope so.

 

It's that time of year again. I have coverage for bodily injury liability to others $20,000 each person/$40,000 each accident, property damage liability to others $10,000 each accident, uninsured/underinsured motorist $20,000 each person/$40,000 each accident (for $1), comprehensive with a $100 deductible, collision with a $250 deductible, and up to $3,000 accessory coverage included. I'm no expert but it sounds like a lot for $75 a year. So far I've never needed anything but comp and accessory coverage every time my ATVs were stolen, and nobody has stolen one from me in 10 years.

 

Those $$ amounts seem awful low for coverage and liability.. $20-$40g would barley even cover someones medical bills let alone anything else they may incur or if they sue.. Its recommended by my insurance to have no less than 2mill coverage.

 

Of course they do, even if the extra coverage costs only a few bucks, chances of being sued for that amount are about 2million to one so look at the extra bucks the ins is making. I have a pod in my yard so I carry an extra blanket policy for my home, I keep my coverage high due to my age and not wanting to loose everything just in case. But....I still only carry 15/30 on my UTV. I don't ride like a wild man, very conservative so my chances of seriously hurting anyone is slim to none. Just like the add on return insurance on products you purchase, even though they are only a few dollars that is the most profitable part of the sale as about one in a thousand ever use it. So if they collect 5 from every policy that is 5000 per thousand people if one collects and they pay out 200 dollars so what...they still made 4800 profit. It is the odds that are played, so if you are prone to accidents then extra coverage might be needed but I have had one fender bender in 50 plus years of driving so I am betting my odds are pretty good!

 

Not sure about your area but i know locally their are several people that were not insured enough and are paying millions to the person that sued them..Im close friends with my insurance agent so i get to hear the stories minus the names. You may be the best rider and safest rider in the world but all it takes is that one idiot that smashes into you and will sue u and usually win... To me the extra few $ for better coverage is better than loosing everything i own and the few extra $ is not going to make a difference financially it wont even buy me a steak dinner for the year but will make sure i can provide for my family in the event something happens... Things may be different in the USA compared to Canada as far as legal issues and to each their own. But make sure you research things locally and make a very informed choise.. It always find it interesting that we will spend thousands on a machine but cheap out when it comes to our safety.

 

I was thinking maybe I should have more coverage, but not millions. In 21 years the only accident I've been involved with on an ATV was when a motorcycle sideswiped me while I was stopped. I saw him coming and pulled over as far as I could and waited for him. He told me he didn't see me because he was watching his front tire. When he finally looked up it was too late and he broke his shifter off on my front tire. There wasn't any damage other than his shifter and neither of us was hurt. If I live to see another 21 years I won't be riding anymore then, and if something like that happens again I have enough coverage. I've never had a collision claim or anything other than theft. If my ATV gets stolen I'll get whatever NADA says it's worth, minus my $100 deductible.

 

An awful lot will dapend on what state you live in. In my state, if I cause an accident the victim is required to use his own medical ins then that is the amount the ins co pays. That way they get the discount from the health ins co. Just how serious of an injury can you get from a 20mph or less injury? Let's be real about this, in my 25 yrs of atv/utv riding I have never saw a serious injury caused by anyone other than an individual doing himself serious injury or people riding on a road and hit by a car. In either case it was their own fault. I have never saw serious injury between 2 atv in an accident and I have saw plenty of those! In cars at high speed yes, but never a serious injury between 2 atvs. Some states or countries may allow ridiculous lawsuits but here in Ohio they are controlled by the ins companies.

 

I just ran the stats for my province and what i pulled up really opened my eyes iv done alot of research for presentation purposes.. on the amount of accidents and deaths ORV were involved in. Don't kid yourself it does not matter if your doing 20km or faster stupid **** happens. We cannot predict the future 2 years ago we had 4 deaths within 2 months within 300km of my house. Im sure those people did not wake up in the morning thinking they were going to dye. Things differ from province to province and state to state all im saying is do your research locally and make sure you are covered 100%. For me a $20 increase in price a year for insurance is cheap.. Even my personal veh, and my trailer is insured to protect my ***.. Im actually better off if my trailer does damage to my truck or others..lol

Way to many times people grab insurance without being informed or doing a bit of research... the extra time you take may protect you for life..

 

I hear ya about Canada, I went to some shooting competitions there some years back and had to carry liability insurance on my rifle in order to compete. In many ways they are insurance crazy there but you gotta do what you gotta do! I also did a little reaserch or I should say my insurance company did and most serious accidents in my areais from negligence. People causing there own issues or not following the laws and there you can get big lawsuits. In my area allowing underage persons to operate your machine ( I don't) and then having them run into a ditch or out on the road etc can cause the big suits. If you own your own machine and pull out in front of a car on the road and get mangled then your on your own. Friend was pissed off at wife so he went for a wild ride on his machine and ended up wrapped around a tree and broke his back in multiple places, laid there for almost a full day before he was found, own fault, nobody to sue. Another friend crashed head on into another atv, both companies decided both were at fault so no lawsuits. Just hard for me to imagine any serious large suits in my area unless some person was really negligent and failed to follow the law...then it could get expensive real quick, that is the Ins co conclusion as well. In Canada.....that could well be a different story!!

 

I may talk to my agent and see what he says, but if he wanted to sell me more insurance I think he would have tried already.