When you are driving on the snow, crisp air whooshing past your cheeks, and having a thrill, it is easy to forget your worries. However, even if driving a snowmobile is second nature to you, accidents can still happen.
In the same way people insure their cars and boats, it is also useful to secure your snowmobile. You never know when you might collide with something and be faced with unexpected costs and claims. Insurance helps you be prepared and avoid losing all your savings.
This article will explain what snowmobile insurance is, what it covers, how its premiums are determined, and how to ensure you get the most cost-effective policy.
What Is Snowmobile Insurance?
As the name suggests, snowmobile insurance covers personal injury or damage to the snowmobile when an accident happens. It also includes legal liabilities if you are responsible for another person’s injuries or property damage.
Without coverage, if you are considered at fault, you would have to pay all the other party’s medical bills, repair costs, and lost wages out of your own pocket, let alone your own losses and medical care.
In general, snowmobile insurance is not mandatory, but different states have separate laws and regulations regarding snowmobile insurance and other requirements. However, it is beneficial to insure a valuable asset to avoid financial distress after any accidents.
What Does Snowmobile Insurance Cover?
When you go to purchase snowmobile insurance, you are usually offered a basic package with multiple coverages. The basic package typically includes:
- Collision coverage – If you collide with someone, irrespective of blame, or hit a rock or a stump, you will be covered for any damage to your snowmobile. This is often required when financing or leasing a snowmobile.
- Comprehensive coverage – It covers any damage to your snowmobile from causes other than a collision. This can include theft, fire, vandalism, falling objects, floods, sinking through the ice, and other accidents.
- Liability coverage – This one includes bodily injury liability and property damage liability. If you are considered responsible for an accident, you will be covered for any damage to another person’s property or vehicle, and for their medical bills or loss of income up to the limits of the policy.
A basic plan can cost anywhere from $100 to $500 per year. In addition to the coverages in the basic package, you can oftentimes add the following ones to your insurance:
- Medical payments – If as a result of a snowmobiling accident you or a passenger needs medical attention, you will have coverage for the medical expenses up to a limit specified in the policy.
- Personal property coverage – Protection for your personal property you have with you while riding a snowmobile. It mainly applies to helmets, windshields and other riding gear.
- Accessory coverage – If you have installed extra items on your snowmobile, e.g., special paint, bags, GPS, etc., those accessories will be covered.
- Uninsured and underinsured driver coverage – If you are in an accident with an uninsured or underinsured driver, you will be covered for the injuries to you and your passengers, as well as for the damage to your vehicle.
- Towing and labor coverage – You will be covered when you need assistance to move your snowmobile.
- Year-round coverage – If you have put away your snowmobile for storage during the off-season but are worried about theft or other damage, this will provide the coverage.
- Snowmobile trailer coverage – Covers the trailer used to transport the vehicle.
How the Cost Is Determined
When purchasing snowmobile insurance, insurance companies will look at various factors to determine your level of risk. Each person’s insurance quote will be unique. The price depends on the following:
- Driving record and claim history – If you have a previous history of claims that includes one or more snowmobile accidents, then your risk will be considered higher and the premiums will be bigger. If you drive a car and have a clean record, it shows the insurance company that you are more likely to also drive the sled safely, and they can give you a lower rate.
- Age and experience – Young drivers and first-time snowmobile drivers are considered to be riskier drivers and are thus given higher rates.
- Value of the snowmobile – The more expensive your snowmobile, the more costly it will be to insure. The make and model of the snowmobile are also taken into account. Any additional safety features on the vehicle can lower the cost of insurance.
- Where you will be riding – Location can affect the risks to you and your vehicle and consequently, influences the cost of the insurance.
- Type and size of insurance – The more comprehensive your protection and the higher the limits, the more it costs.
- Deductibles – Higher deductibles lead to lower premiums. However, this means that you need to have more money on hand to cover out-of-pocket expenses.
- State – Insurance quotes in different states vary. States prone to higher levels of snowfall and longer winters can impose higher rates on snowmobile insurance. On the other hand, these states often have mandatory insurance, which can decrease premiums for other things, such as underinsured/uninsured driver coverage.
Reducing the Cost of Insurance
Knowing which factors are taken into consideration to calculate the premiums can help you plan ahead and potentially reduce some of your insurance costs. Keep in mind these things before signing a policy:
- Drive safely – Naturally, avoiding accidents and keeping your history claim-free keeps your insurance rates low. This includes not getting any parking or speeding tickets.
- Bundle your policies – If you purchase all your insurance from one company, they will give you a discount if you bundle it all together.
- Prove that you are a safe driver – If you have completed a snowmobile safety course, you can earn a discount.
- Ask about discounts – When purchasing insurance, always ask which discounts are available.
- Marriage and home – Being married or owning your home signals to the insurance company that in general, you are a less risky customer. Remember to let the insurance provider know of this information.
- Shop around – As with any insurance, do not go with the first insurance provider you find. Since each insurance company might assess risk differently, it is better to get quotes from multiple agencies to find the policy with the best value for your money.
To find the snowmobile insurance that best fits your unique situation, it is best to talk it through with an expert. You can send us an email today or request a quote from our website.