Yes! The State of Utah requires us to have a minimum insurance on our toys–even if they are paid for and have no loan. This LIABILITY INSURANCE is critical for you and those who are passengers on or in these toys. People often request only the minimum insurance on toys. The challenge is that in the eventuality that someone gets injured, the minimum coverage will likely not be enough. Unfortunately, by sad experience, most accidents involving these motorized toys are not small and are quite common. Because of this liability, it is important to consider more insurance coverage rather than the minimum. Just think of it this way: with a motorcycle, there is no such thing as a fender bender!
Here is an example of how important this coverage can be. A client of ours, who is a prominent Davis County resident, owns an ATV. He and his wife were riding on a beautiful day, traveling down a slight hill yet, somehow, this experienced driver flipped the ATV and it tumbled over on top of them. He was slightly injured, however his wife had multiple major injuries. Luckily, he carried a policy with bodily injury limits of $100,000 per person and $300,000 per accident. The claim paid out the full $100,000 for her injuries, her time off work, helped with duties around the house and so on. They had medical insurance too, but this additional coverage helped a horrible 12-18-month situation become manageable, plus it protected their financial situation which, otherwise, could have spelled ruin.
Do you own any one or multiple of these types of toys? Do you have the proper coverage? Do you take church groups or the neighborhood kids with you from time to time? There is a reason why the attorney commercials that we hear often tell us that for pennies a day we CAN and SHOULD INCREASE coverage. No matter how close you are with your neighbor, when an accident injures their child, you will be sued. In fact, their insurance company may require them to sue you.
This is not just a sales pitch. We believe higher limits and even an additional Excess/Umbrella policy is a wise investment. It is less than you think it is. Frankly, in most cases an Excess/Umbrella Policy effective for one year is less than one hour of an attorney’s time.
Call our office to discuss your situation and how you can have the peace of mind while enjoying the great outdoors with your family and friends this summer. Visit our website or call 801-825-3887 for more information