Just like auto insurance you have options when it comes to insuring your snowmobile. When choosing snowmobile insurance, you usually have the flexibility to choose from different providers and policies, allowing you to find the right coverage for you. Before we explain what affects the cost of snowmobile insurance, we’ll cover some basics.
How does Snowmobile Insurance Work?
Like your typical auto insurance policy, you pay a monthly or yearly premium to have your snowmobile covered in the event there is an accident. You will choose a policy and a provider that will help provide protection. The type of policy you select will determine the type and amount of protection you have. For example, a basic liability policy pays (subject to the terms, conditions, and limitations in the policy) towards certain personal injuries and property damage that you can case to third parties while using your snowmobile. Basic liability coverage, however, usually does not provide coverage for your own physical injuries or property damage. To obtain including coverage for your own injuries and property damage, you’ll have to get a more comprehensive coverage. Depending on the following factors, the cost can vary.
What Factors Go into How Much My Snowmobile Insurance Costs?
There are a wide variety of factors that can impact the cost of a snowmobile insurance policy. In addition to the type and amount of coverage(s) you select, the following non-exhaustive list will share some of the possible factors that can play into a snowmobile insurance quote.
- The year, make and model of your snowmobile. A newer, more expensive, and typically faster snowmobile will tend to affect your policy more than an older machine. Safety ratings and modifications may also affect your potential costs.
- The state that you live in. With each state having different laws and regulations that riders must follow this can affect your quote. Additionally, some states experience longer winters and provide snowmobilers with a longer riding season, which may require impact rates.
- Where will you ride your snowmobile? Will you be riding out behind your home on your own property, on a provided course, or in a different state from where you live? Each presents its own levels of liability and risks.
- Your age, driving record, and in some case profession. Just as with regular car insurance, your individual background and driving history can alter how cheap or expensive the quote may be. The rates for a teenage male compared to a female in her forties may be very different. Past accidents while operating any machinery, not just snowmobiles, can also alter your rates.
- Are you riding alone or with a friend? Having passengers accompany you on rides may either increase or decrease the liability at hand, which may impact rates.
- Will the snowmobile be used for leisure, business, or racing? The intended purpose of riding your snowmobile may have a substantial impact on your rates. Comparing a snowmobile used for leisure around your home, to a business providing a snowmobile to employees as a form of transportation, to a snowmobile used for racing, may yield substantially different results.
How to Save Money on Snowmobile Insurance
Now knowing the specifics that can alter your snowmobile insurance costs, how do you reduce costs? The following are some ideas that can help save money on snowmobile insurance.
- Drive Safely. The more accidents and claims that are on your record the higher your insurance premiums will most likely be.
- Bundle Your Coverage. If you use the same insurance provider for your car insurance, then you may be able to bundle these policies together, potentially receiving discounts for not just your snowmobile insurance but your car insurance too.
- Keep Coverage Year-Round. Even though you can only use your snowmobile for a duration of the year, you can sometimes receive additional discounts by keeping it insured year-round.
- Shop Around for Policies. By personally re-assessing your current insurance needs and obtaining quotes from different carriers, you may be able to find a policy that suits your needs at a more competitive rate.
Just like any insurance coverage, snowmobile insurance can be unique to meet your needs. The information above can help you prepare and plan when looking for snowmobile insurance, helping you spend more time hitting the trails.
This article is for general informational purposes only and is not to be relied upon or used for any particular purpose. Cross Insurance shall not be held responsible in any way for, and specifically disclaims any liability arising out of or in any way connected to, reliance on or use of any of the information contained in this article. The information contained or referenced in this article is not intended to constitute and should not be considered legal, insurance, accounting or other professional advice, nor shall it serve as a substitute for the recipient obtaining such advice. The views expressed in this article are that of its author and do not necessarily represent the views of Cross Financial Corp. and its subsidiaries and affiliates (“Cross Insurance”) or Cross Insurance’s management or shareholders.