A Quick Guide to Powersports Vehicles

Jetski rider making a big splash on a sunny day.

Powersports vehicles are super commonplace here in the Pacific Northwest. There’s ample dunes and bodies of water to enjoy the thrills of ATVs and jet skis.  

When buying a powersports vehicle, getting a loan is a straightforward process – it’s very similar to that of an auto loan. However, there are other questions that you may have about powersports vehicles. 

In this article, we’ll clear up what constitutes a powersports vehicle, how to get a loan for one, and explore why you should insure your powersports vehicles.  

What are Powersports Vehicles? 

First things first, you might be wondering: “What exactly is considered a powersports vehicle?” There’s no easy answer. Depending on where you look, the definition of powersports vehicles varies. Some websites define them as any vehicle where a rider uses handlebars to control the vehicle; others tend to view them as vehicles that are two- or three-wheeled. But then there’s the matter of 4-wheelers falling under the powersports umbrella.   

With all that in mind, here’s a list of some of the most popular powersports vehicles: 

  • All-terrain vehicles, more commonly known as ATVs 
  • Personal watercraft such as jet skis 
  • Dirt bikes 
  • Snowmobiles 
  • Mopeds 
  • Utility vehicles (UTVs) 

Are there Loans for Powersports Vehicles? 

Yes. Most credit unions, banks, and dealers offer financing for powersports vehicles. The process of getting a loan for powersports vehicles is pretty similar to that of autos. Not surprisingly, the better your credit history, the better chance you have of getting more favorable terms on your loan.   

Thinking about buying a powersports vehicle? You can get powersports loans through TwinStar! We offer loans for vehicles including off-road dirt bikes, side-by-sides, ATVs, UTVs, personal watercraft, and snowmobiles. In addition to powersports loans, we offer motorcycle and scooter loans. 

Get pre-approved today. Apply online, call 800.258.3115, or visit your local branch

Is Insurance Required for Powersports Vehicles? 

Another commonly asked question about powersports vehicles is whether they are required to be insured. Most states don’t require insurance for those powersports vehicles because they aren’t typically used on roadways.  

However, before you purchase a powersports vehicle, you should check your state’s requirements for insurance coverage. That way, you have a better idea of the total cost of owning a powersports vehicle. Also, it’s worth noting that some areas may require you to have insurance to ride powersports vehicles on state lands or private parks/trails.  

The bottom line is that you should research your state’s insurance laws and requirements to determine whether you’ll need to insure before you ride.  

Why Insure Powersports Vehicles if it’s Not Required? 

Even if you plan to buy a powersports vehicle that doesn’t require insurance, there are still plenty of reasons to buy coverage. Accidents happen, even off road, and it’s always a good idea to be prepared with any of the following coverage(s): 

  • Collision. Covers physical damage to your vehicle 
  • Medical payment. Covers medical expenses for you or your passengers 
  • Bodily injury liability. Covers injuries to others 
  • Property damage liability. Pays for damages that you are liable for 
  • Theft. Protects you in the event your vehicle is stolen 

Need to insure a powersports vehicle? TwinStar has got you covered. We insure a wide range of powersports vehicles including ATVs and jet skis. For more information or a free quote, visit our Insurance Services page.*  

Final Thoughts 

Powersports vehicles can provide a lot of fun and excitement – sometimes at a fraction of the cost of a sports car or boat. That said, you’ll still need to consider a few factors before you buy one. In addition to financing, you may also need insurance for a powersports vehicle. Happy riding! 

* Insurance products and services are offered through and underwritten by SELCO Group Inc., dba TwinStar Insurance, which provides insurance services for TwinStar Credit Union as an independent contractor. SELCO Group Inc. is a licensed insurance company domiciled in the State of Oregon. Business conducted with TwinStar Insurance is separate and distinct from any business conducted with TwinStar Credit Union. Products offered through TwinStar Insurance are not NCUA/NCUSIF or otherwise federally insured, are not guarantees or obligations of the TwinStar Credit Union, and may be subject to risk. Any insurance required as a condition of an extension of credit by TwinStar Credit Union may be purchased from an agent or insurance company of the member’s choice.