Liability Coverage: Toy Vehicle Insurance

Toy vehicles can provide fun and exciting ways to navigate the world or enjoy various hobbies. Although they may often be smaller and less valuable than full-sized automobiles, ATVs, Jet Skis, snowmobiles and other toy vehicles still carry significant risk. These vehicles can often travel at great speeds, potentially leading to costly accidents and extensive financial losses. If you’re at fault in an accident, fiscal consequences can be particularly sizable, making appropriate liability coverage essential.

What Is Toy Vehicle Liability Coverage? 

Although toy vehicles can vary significantly in their risk levels and subsequent coverage needs, liability coverage should be a top priority regardless of type, size or what you use them for. In many cases, this type of coverage may even be required by law, although mandates often vary depending on the type of vehicle you have, where you drive it and where you live. Regardless, when putting together a toy vehicle insurance policy, key components may include the following:

• Bodily injury liability coverage—This part of your insurance can offset third-party losses for which you’re at fault. For example, if you’re enjoying a ride on your Jet Ski and crash into someone, your insurance can help pay for the resulting costs, including the affected parties’ medical bills.

• Property damage liability coverage—This can be essential for limiting your out-of-pocket losses if you’re responsible for damaging someone else’s property. For instance, if you’re driving your ATV but lose control and crash into someone’s car or building, this coverage can help pay for their repairs.

In addition to assisting with health care expenses and repair or replacement costs, your liability coverage may also help pay for your legal expenses if you’re sued following an accident involving your toy vehicle.

We’re Here to Help

Contact Jarrard Insurance Inc. today to learn more about coverage options for your toy vehicles or to get a free quote.

This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.