Coverage for Your Additional All Terrain Vehicles
Many clients have acquired all terrain vehicles, golf carts, go carts and even miniature vehicles used by their children. While all of these are designed to be fun and entertaining, you need to recognize that like any vehicle, the use can result in an accident or loss.
Standard homeowner’s policies may limit the coverage for these types of vehicles to your premises. This does not fit with off road use, hunting or fishing or use within your neighborhood.
Standard automobile policies do not cover vehicles that are not intended or licensed for road use. You would have no liability coverage for these vehicles and no coverage for damage to the vehicle.
There are endorsements available from most insurance carriers to fill these gaps in your coverage. It is important that you discuss your ownership and use of these types of vehicles with your agent to be sure they tailor the policy to your needs.
Many dealers offer to include insurance with their sales and financing agreement. You need to be a careful buyer when relying on this source for your insurance. First understand if the coverage is for property damage only. This coverage protects the interests of the financing entity from damage to their collateral.
If the insurance program does include liability, what limits are offered? Some coverages offer a low liability limit, mirroring state vehicle liability minimum limits. This may leave you significantly underinsured.
The liability limit and the carrier of the insurance is also important to consider when you have a personal umbrella policy. If the recreational vehicle policy is not included as an underlying policy for your umbrella, you will lack this layer of protection.
The Driehaus Difference
We may ask you more questions about your recreational vehicles and their uses than you expect. We are not prying into your life, but we know that insurance gaps exist around these items, and we tailor your coverage to protect you. We make sure the coverage is properly placed to fit into your total insurance program. Call us at 513-977-6860 or contact via our web site www.driehausins.com. We want to be your insurance resource.