UTV and Off-Road Vehicle Coverage: Insurance Policies You Need to Know About

It’s highly likely that you have come across the word insurance before – it frequently gets mentioned in movies and TV shows, or you might have heard family and friends discussing their insurance policies. While insurance is a fairly common term, not everyone has a good grasp of what it means.

Insurance refers to a financial product sold by companies with the goal of protecting a person (or his/her property) from possible loss, theft, or damage due to a particular situation, which is usually in the form of an accident or natural calamity.

There are different types of insurance, and it’s essential to understand how each kind differs from one another so that you can make better decisions regarding your finances and property. Here are some insurance policies that you need to know about, especially if you own a UTV (utility terrain vehicle) or other off-road vehicles:

Optional Equipment Coverage

Optional equipment coverage insures your UTV/off-road vehicle accessories which include light bars, stereos, aftermarket wheels, suspension upgrades, customized cages, all safety gear, and many others. The covered amount varies depending on the insurance company, with most firms only able to offer up to $2,500.

If you’re looking for wider coverage for optional motorcycle equipment, you can contact us at MaxRPM Insurance. We offer up to $30,000 in coverage on eligible vehicles, allowing our clients to travel more comfortably knowing that their asset is fully protected.

Liability Insurance

Liability insurance covers the other person when an accident occurs, causing loss or damage to the other party, and it is determined to be your fault. By securing liability insurance, you gain the option to choose what limits you would like to have as long as they meet the state requirements. However, you need to keep in mind that any damages above your limits will be considered your sole responsibility. 

There are three numbers you would typically see on your liability insurance policy that you need to know about. For example, if you see 250/500/200 on your insurance deal, it means that the maximum amount your insurer will cover per person for bodily injury is set at $250,000. The second number is the maximum amount that your insurer will pay for the total of all bodily injuries involved in an at-fault accident, or $500,000. Finally, the last number refers to property damage coverage. This number is the maximum amount your insurer will pay for another’s property, which stands at $200,000 worth of property damage in this example.

Uninsured or Underinsured Motorist Insurance

It’s important to have uninsured or underinsured coverage in case you figure in an accident where you are not at fault and the at-fault driver has no or not enough insurance to cover the damages. These damages could include medical bills, lost wages, funeral expenses, and pain and suffering compensation. 

Usually, your uninsured or underinsured coverage mirrors your liability coverages. However, you can always talk to a licensed insurance agent to have it adjusted to better fit your needs. 

Medical Payment Coverage

Medical payment coverage is used to pay for medical expenses such as doctors visits, surgery, x-rays, ambulance fees and more. This coverage is available to you and your passengers whether you are at fault or not, a driver, passenger, or even a pedestrian. 

Even if you have medical insurance, this coverage can help ease your finances by paying for deductibles and eliminating gaps in the covered amount.

Auto Collision Insurance

Collision insurance will pay to repair or replace your vehicle whether you are at fault or not. This coverage includes colliding with another car or any other object. Collision coverage is usually optional but may be required if you leased or financed your vehicle.   

In collision insurance, you are able to choose your deductible amount, which is commonly set at $500. This means that if you were to get into an accident resulting in damages worth $4500, you would only need to pay $500 and your insurance company would pay the remaining balance. Typically, the lower your deductible is, the higher your premium will be with this coverage. 

Auto Comprehensive Coverage

Comprehensive insurance is used to finance repairs or replacements for your vehicle for anything other than a collision. This includes theft, vandalism, fire, falling objects, animal damage, and more. Like auto collision insurance, you can also set a deductible amount when setting up your auto comprehensive coverage.

A Final Word on UTV and Off-road Vehicle Coverage

It’s important to get UTV and off-road vehicle insurance in order to protect yourself, your family, and your vehicle in case an unforeseen tragedy occurs. By signing up for the necessary insurance policies, you can lessen stress during difficult times while still enjoying financial security.

There are several insurance firms out there, and it’s essential to sign only with someone you can trust. If you need assistance in determining and understanding your vehicle insurance policies, you can always reach out to MaxRPM Insurance. With a team of licensed and properly trained agents, you can trust MaxRPM to help you secure the best insurance policy that suits you and your family’s needs.

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