There are many great toys out there that are not toys for kids: ATVs, UTVs, snowmobiles, dirt bikes and dune buggies. If you own one of these toys, they need to be insured as well. Be aware that your homeowner’s and car insurance policies do not provide any coverage for them. You are responsible for purchasing a separate policy. Insurance in Hobbs, New Mexico, for people who own an off-road toy should always incorporate the specialized coverage needed to protect these vehicles.
Insurance for toys is very similar to traditional auto insurance as it consists of the three big blocks of collision, liability and comprehensive coverage. Whether you use your vehicle for work or for fun, accidents can happen at any point in time. If you have collision coverage, the insurance company pays to get it repaired. Keep in mind though that minor dents from normal, off-road use are not covered. Liability coverage is always important to have since you could be held liable for damage to someone else’s property or for someone else’s injuries. No matter how well-secured or safely you store your vehicle, someone could end up stealing it or it could get damaged. That’s where comprehensive coverage comes in. Since you most likely have car insurance, you have probably already heard of uninsured/underinsured motorist coverage, which is something you can also include in your toy insurance, too.
Insurance in Hobbs, New Mexico, is crucial to provide you with protection all-around. After all, your toys are an investment and you want to be assured that they are covered.