Understanding Toy Vehicle Insurance Policies

If you’ve got the adventure bug, then you’re probably familiar with toy vehicles. This term can refer to numerous vehicles that provide thrills and excitement—all-terrain vehicles (ATVs), personal watercraft and snowmobiles are just some examples. With toy vehicles, the journey is often more important than the destination.

However, before setting off on your next toy vehicle excursion, it’s vital to ensure you have everything you need to be safe. This means more than just helmets and life jackets; you also need the right insurance.

What Is Toy Vehicle Insurance?

In basic terms, toy vehicle insurance is similar to car insurance, except that it’s designed for other vehicles. Like car insurance, toy vehicle policies can help financially protect vehicle operators and passengers after an accident or other covered event.

Toy vehicle insurance should be considered essential for anyone who operates such vehicles. Even a single mishap can cause serious financial consequences. After all, toy vehicles are often expensive, so it can pay to insure their protection.

What Does Toy Vehicle Insurance Cover?

Toy vehicle policies can vary by insurer and selected coverage. Some common coverages include:

• Liability insurance may help pay for third-party damages and losses caused by the policyholder. It may also help cover legal costs if the third party sues.
• Collision insurance may help pay for damages to the policyholder’s vehicle after a collision.
• Comprehensive insurance may cover the policyholder’s vehicle from perils when it’s parked or stored, such as fire, vandalism and theft.
• Medical payments coverage may help cover the medical expenses of the operator and their passengers after an accident, regardless of fault.
• Custom parts and accessories coverage may help cover aftermarket or custom parts added to a toy vehicle.
• Umbrella insurance can increase liability limits, adding additional financial security if other liability coverages are exhausted.

What Influences the Cost of Toy Vehicle Insurance?

Toy vehicle policies may vary in price depending on the insurer and chosen coverage. Generally, insurers may look at factors such as the price of the vehicle being insured, the operator’s driving history, the location where it will be used and other aspects.

The Wyatt Agency can help evaluate your circumstances and recommend a toy vehicle policy that’s right for you. Contact us today to get started.

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.