What does an ATV insurance cover?

All-terrain vehicles (ATVs) can be unsafe for the riders as well as those around them, and it’s very expensive to replace it if it’s damaged. Due to this, owners need to buy ATV insurance to protect them and their machines from unforeseen losses. Many insurers in Austin, TX like Ty Lawrence Insurance Agency may cover ATVs under a motorcycle insurance policy although rates are often lower for the off-road vehicles.  

What does ATV insurance cover?

There are many coverage options in an ATV insurance policy. Some of them are mandatory while others are optional. This piece will outline all the coverage options in ATV insurance.

Body injury liability

This policy pays for all damages related to other parties who are injured in an accident that’s associated with your off-road vehicle. It also covers legal fees that may result from litigation against you.

Property damage liability

This cover is designed to pay for the damages you cause to another individual’s property. It will include properties like personal belongings, yard, or home.

Underinsured/Uninsured motorist

This is an optional plan that provides protection in case you are involved in an accident with someone who isn’t insured or doesn’t have enough of it. If the other party is at fault, your insurer will cover all the cost the person is responsible for.

Medical payments

Medical payments coverage will pay for medical expenses that will be incurred by those who ride your ATV and get injured. This optional plan will cover things such as X-rays, surgeries, transportation via ambulance, and hospital stay.

Comprehensive

It pays for damages that are not caused by collision, for example, flooding, earthquake, vandalism, theft, fires, and other causes.

Collision

The coverage pays for all necessary repairs to your damaged off-road vehicle after an accident.

You can get all these coverage plans from Ty Lawrence Insurance Agency, a company that serves the entire Austin, TX area. Contact us for more information.

 

When is Umbrella Insurance Necessary for Vehicles in Texas?

If you’re unfamiliar with the term, "umbrella insurance", think of it as an extra form of protection on top of regular insurance policies. Though it is traditionally used in business or homeowners insurance policies, growing numbers of auto umbrella insurance policies are being seen across the Austin, TX area and the West in general. Even so, it can be difficult to know just when and for whom umbrella insurance is necessary for vehicles in Texas. Fortunately, Ty Lawrence Insurance Agency is here to help.

But before we go into the necessity of umbrella insurance, it is first important to understand what this kind of insurance is. Also known as "excess liability" coverage, an umbrella policy kicks in when coverage under a regular auto policy isn’t enough. For example, a serious accident that results in critical bodily injury or a lawsuit for major damages usually means you’ll have to pay out of your own pocket for any amounts that exceed your auto insurance coverage limit. An umbrella policy, therefore, works to cover these extra costs and legal fees.  

So why is umbrella insurance becoming more common in Texas? Well, as western cities continue to grow, more and more vehicles are being introduced to the roads, and road networks themselves are expanding. People are paying closer attention to auto insurance policies than ever, and it is becoming obvious that standard policies don’t come with many benefits when it comes to different kinds of liability. While umbrella insurance is not a legal requirement for anyone, many people who have a high net worth (at least, a net worth higher than their regular liability coverage limit) may view it as a necessity. The point is, if you’re in the Austin, TX area and you deem yourself to be at high risk of either a lawsuit or expensive costs in a car accident, an umbrella policy could be the right choice. To learn more about umbrella insurance and whether or not it is right for you, please contact Ty Lawrence Insurance Agency at your nearest convenience.