Understanding ATV Insurance: Coverage, Costs, and Material Facts

All-terrain vehicles (ATVs) are thrilling to operate but come with risks like any vehicle. The right insurance coverage is crucial to protect yourself, others, and your investment. When insuring your ATV, it’s essential to understand the types of coverage available, the factors influencing premiums, and what constitutes a “material fact” that must be disclosed.

Types of ATV Insurance Coverage

At Waypoint, we offer various coverage options tailored to how and where you use your ATV. In British Columbia, for instance, ICBC offers the APV250, which provides insurance for crossing controlled intersections or unloading/loading in a public parking lot. For more extensive highway or public road use, you may need an Operation Permit from the RCMP.

For off-road enthusiasts, ICBC APV119 policy covers off-highway pleasure use, including operations on crown and resource land. Alternatively, Oasis GotToys offers an off-road policy popular for those who frequently use their ATVs on crown land, with specific coverage options like the ATVBC Island Policy for riders on Vancouver Island.

Factors Influencing ATV Insurance Premiums

The cost of insuring your ATV depends on several factors beginning with the CC’ s of the vehicle- the higher the CC’s typically the higher the premium. ATVs used for business purposes often carry higher premiums than those used purely for pleasure. Additionally, modifications including installing performance-enhancing equipment such as turbochargers or having a history of at-fault accidents or convictions can raise your rates. The insurable value of your unit impacts the premium, with discounts available for immobilizers, safety training courses and membership in eligible groups like ATVBC.

The Importance of Material Facts

When applying for ATV insurance, disclosing all “material facts” information that might influence your policy’s cost or eligibility is critical. These facts include your ATV’s intended use, operators of the ATV, modifications (like performance upgrades or added safety features), and any previous claims or convictions. Even severe medical conditions that could affect your ATV ability should be reported. Failure to disclose a material fact, such as switching from personal to commercial use, can lead to a denial of coverage or policy cancellation if an accident occurs.

How Modifications Affect Your Policy

Any significant changes your unit has had like adding turbochargers or roll cages, which increase the vehicle’s value or performance, must be reported. These modifications may result in higher premiums. You may be eligible for a true replacement cost policy is a declared or agreed value policy. Minor enhancements like mufflers or saddle bags don’t generally need to be declared, as they do not affect the vehicle’s performance or insurable value.

Off-Road and Private Property Coverage

ATV insurance doesn’t just apply to on-road incidents. ICBC APV119 and Oasis GotToys policies cover accidents that occur off-road or on private property if you are insured for the appropriate risks. Oasis policies even cover riders across Canada and the U.S. as long as 60% of the vehicle’s usage remains in BC.

Ready to protect your ATV? Fill out the form below to contact one of our experienced brokers. We’re here to help you find the right coverage at the best price, tailored to your needs.