It occured on an off road vehicle which SOME insurance companies do not require you to list on your policy unless it is driven on public roads or area vs private land for your auto/homeowners coverage to apply. Some do require all motorized vehicles & trailers to be listed. If he has auto insurance he may want to contact them or you may want to contact them to file a claim. (anyone has the legal right to file a claim doesn't need to be the policy holder). If your lucky he has someone like Farm Bureau who does not define an automobile as having 4 wheels. They leave it open enough that boats, motorcycles, snowmobiles,jet ski's etc all fall under the definition of an auto. Therefore if the policy holder goes and rents a snowmobile they are covered under the non-owned auto section of their policy. Insurance however would not cover "loss of use". That is the money it could have made for the business while it is out of service. And that would fall back to you that the insurance company would not pay you for any loss of use neither. The nice thing is you have a contract that is an admission of their insured's fault. (remember on your insurance cards instructions to file a claim to keep your mouth shut, don't admit guilt etc). Which is why I advised you to get it signed in the first place. 
Any Insurance adjuster will look at it and know their policy holder is ****ed and pay it.
Good, Hopefully you won't have to get it out again. Just keep up with your end of the contract. (accept payments.) Keep documentation of dates and events and payment history. For payment history keep record of date paid, method of payment and any times payment is late/bounces/incorrect amount/dated incorrectly (if he tried post dating which you cannot accept by law). The more you have this together and in order the more of a slam shut case you have if it goes to court. Keep tabs of where he is too so if it comes down to it you have an address to serve court papers and where he works in the event you file judgment to garnish wages. The signing of the contract does bind him to it despite what others on this post may say. This is basic contract law. Fullfill your end of the contract and collect payments within the limits of the Fair Debt Collections Act and keep records. It does not matter if you had collision insurance at the time or not for this to apply.
But like I said hopefully his insurance will pick it up.
Any Insurance adjuster will look at it and know their policy holder is ****ed and pay it.Good, Hopefully you won't have to get it out again. Just keep up with your end of the contract. (accept payments.) Keep documentation of dates and events and payment history. For payment history keep record of date paid, method of payment and any times payment is late/bounces/incorrect amount/dated incorrectly (if he tried post dating which you cannot accept by law). The more you have this together and in order the more of a slam shut case you have if it goes to court. Keep tabs of where he is too so if it comes down to it you have an address to serve court papers and where he works in the event you file judgment to garnish wages. The signing of the contract does bind him to it despite what others on this post may say. This is basic contract law. Fullfill your end of the contract and collect payments within the limits of the Fair Debt Collections Act and keep records. It does not matter if you had collision insurance at the time or not for this to apply.
But like I said hopefully his insurance will pick it up.
