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Last Updated on August 24, 2024 by Paul Clayton
Ever experienced that remarkable sensation when you purchase something new and it looks so pristine that a part of you doesn’t want to use it, but another part simultaneously is desperate to put it to use? I’m sure I speak for a lot of us when I say that this is one internal battle I wouldn’t mind partaking in.
Picture this. You’ve copped a new ride and are in a similar situation. Your UTV is spotless and untouched, and you want to preserve this for as long as humanly possible.
There’s no way for you to box them up and galvanize them in oil, but the next best thing you can do is get insurance.
Table of Contents
Is UTV Insurance Worth It?
I know, I know. You’ve received this advice a million times on multiple occasions. But it’s too expensive, and you fail to understand why.
On average, UTV insurance tends to cost $20-$30 per month. It may vary, so don’t come knocking at my door demanding an explanation when you’re charged differently. It entirely depends on your company, its policy, the make and model.
What is the reason for the inflation in costs? What is the money even for? These are the questions that you’re riddled with when you’re penning down the big numbers on the cheque for your tires insurance.
To start with, this is what your UTV insurance is going to give you
- Medical bills
- Uninsured/Underinsured Motorist Coverage
- Liability
- Collision
- Comprehensive Coverage
- OEM endorsement
Okay, what are these phrases? They certainly sound big and fancy. This partially helps you to realize why UTV insurance tends to be a little higher than normal.
We’ve built up the foundation for answering our question. Now let’s get this show on the road (pun intended)
The Reasons For Soaring Costs Explained
Medical Bills
Now that’s a mess you don’t want to involve yourself in. You’ve gone and gotten yourself in an accident, and the consequences have left you and your UTV in an injurious state.
And what’s funny is, you might even be worried more about the cost of your medical bills after obtaining treatment than your health itself.
Now here’s the catch. If the fault lies with the opposing driver, your insurance covers all of your medical bills. If the fault is on your part, your insurance company may still cover them.
What’s even better is that insurance for UTV will pay the medical bills for other motorist(s) involved as well, regardless of their existing insurance policy.
I’d say that was its money’s worth, wouldn’t you?
Liability
If you are the cause of an accident, you are the liability. You are responsible for what has happened, and you will be held accountable. You will have to personally pay for all the primary and secondary consequences due to the misfortune. And that’s going to be a big, big pain.
Unless, of course, you have insurance.
If you’ve damaged property, your insurance will pay for its repair.
If you’ve damaged another vehicle, your insurance will cover it.
If you’ve damaged another person, well….
No need to panic, your insurance is going to pay for that too.
Now imagine how costly all that must be? Is expensive insurance justified or not?
Motorist Insurance Coverage
Here’s a relatively better scenario to put your conscience at ease. You are in an accident, but this time, you are not the liability. Congratulations, you can now go through the process without a guilty conscience.
But there’s one potential problem. Or two
The liable motorist does not have insurance (uninsured) or their insurance is insufficient (underinsured)
The motorist takes off before you can stop to confront him or take his number
This is where your insurance comes in. It will cover up the damage costs and certify that you are not faced with unwanted problems
Comprehensive Coverage
Check this out: There are other liabilities that could cause damage to your car. Surprised? Unconvinced? Let me tell you what I mean
Imagine the trunk of a tree randomly falls on our UTV. Or the storm brewing outside inflicts extensive damage to it. It spontaneously catches fire.
Holding an argument with Mother Nature is off-limits, so you can’t do much in that scenario. But your insurance can. Comprehensive coverage overlooks the cost of every other thing that impairs your UTV apart from an accident.
Time and tide wait for no one, and you can never be too prepared when it comes to your baby. No sweet thing in life comes without effort. In the case of protection for your UTV, its money.
Collision
This one is as simple as its title. Most insurance companies will cover the cost of all the mutilation caused by a collision, regardless of what the colliding object may be.
A vehicle, a property, a bollard, or a fence, you name it. This could turn into a nice long game of roulette.
This is considered to be the basic foundation of insurance and applies to all sorts of vehicles, inclusive of UTV’s.
OEM Endorsement
OEM stands for Original Equipment Manufacturer.
A lot of insurance companies offer this incentive, while others do not. If your UTV is fairly new (around 5-10 years), this form of insurance would apply to it.
In the case that a part is damaged or destroyed due to various reasons, the insurance company tends to offer an original replacement to ensure that the UTV maintains its efficiency.
If an original part is unavailable, you are alternatively offered the same amount of money that would have initially gone into buying the part, making it a fair policy in all terms applicable.
Conclusion
We’ve run a thorough screening into the different factors that are contributing to UTV insurance, its high prices and what they entail.
They include OEM Endorsement, Collision, Liability, Comprehensive Coverage, Medical Bills, and Motorist Insurance.
Your insurance will pay for accidents, regardless of who the liability may be. It will cover up the costs of healthcare and medical bills mounted upon you and the concerned motorist. It will pay if nature is at war with your UTV and damages it.
If terms and conditions are met, it may even replace damaged parts with original ones from the manufacturer, making things a lot more convenient for anyone.
When considered, the incentives that are offered by UTV insurance are more than adequate and dare I say, necessary.
For a UTV, the chance of an accident or mishap is far more probable than a normal vehicle. In the case that you do not have insurance, it could be costly and take a large hit on your bank account, and send it in to a personalized version of The Great Depression.
Despite everything mentioned above, one very important thing remains unsaid. Accidents and misfortunes may happen in the blink of an eye, and no mortal power can prevent it. Your safety is in your hands, so even if you do decide to go for the “somewhat” expensive insurance, make sure you drive safely.
One can deduce that insurance for your UTV is similar to a long term investment. Taking all of that into consideration, let’s take a trip down memory lane and go back to our first question.
Insurance for your UTV: Worthy or unworthy?
