Moped insurance usually falls under motorcycle insurance for most operators, and, in case you want to drive this type of vehicle, you can find more info here on the topic. While moped insurance is not a requirement everywhere, it is for the better to be well informed if you intend to ride a moped on public roads.
Most insurance carriers will cover this type of policy, but, as always, it is a good idea to shop around and run some comparisons between the various rates offered to find a deal that matches your budget and requirements.
What kind of insurance policy is needed?
The first thing you need to establish is what category of vehicles covers yours. Since depending on the state you live in, the legislation can differ quite a great deal, you will need to learn first if you need to register and get insurance for your moped.
Another thing to bear in mind is that mopeds and scooters rarely have insurance policies only for them. They are usually included in the broader category of motorcycle insurance. So, you should see what such insurance normally covers.
Motorcycle insurance will include coverage for bodily injury, as well as property damage. In other words, once you get this type of insurance, you will be covered for the same liabilities as when riding a motorcycle.
However, you must pay attention to all the details. So, remember that this standard insurance offers no coverage for the person riding the moped, and the vehicle itself. Therefore, if you get injured in an accident while on your moped, or your vehicle gets damaged, you will not be compensated in any way.
In case you want to pay for a type of insurance that will cover medical bills in the case of an accident, there are some coverage extras you can opt for. For instance, there are some optional coverages in many states that refer to the uninsured or underinsured rider and can cover for damages when such a person causes an accident.
Also, you can get optional coverages for the costs of repairing your moped if something happens to it, which is a great plus. Of course, you must bear in mind that you will pay extra, but if you feel like you would be more comfortable with such insurance, it will well worth the cost.
Other optional coverages include, and are not limited to, roadside assistance or insurance for the items you might be carrying on your moped. Trip interruption, or even total loss coverage, are among the extras insurance carriers offer to motorists who prefer riding a moped.
Is moped insurance really necessary?
While there are exceptions to the rule, mopeds and scooters often require registration and insurance. The conditions differ from state to state but knowing the generalities involved will help you greatly when you start searching for options.
Many states, as mentioned earlier, will require the same insurance as they would for motorcycles. However, some carry particular requirements that apply only to mopeds and scooters. Also, you will find that, in some states, you will need coverage for the uninsured or underinsured moped rider. And lastly, in some states, you may be surprised to learn that you will need coverage for personal injury protection (PIP).
What are some standard coverage limits?
For mopeds and scooters, you will find that there are certain standard coverage limits. Bodily injury, for instance, is limited to 25,000 dollars per person. Property damage limit is 10,000 dollars, and these are figures offered by important insurance carriers. Don’t ever forget that, depending on where you live, you will need less or more insurance.
The highest figures can go up to 250,000 dollars per person or half a million per accident. The property damage limit is also in a higher ballpark, of up to 100,000 dollars.
Some optional coverages will also get the insured 10,000 dollars for medical bills. Seeing how the deductible for the cheapest insurance can be only 50 dollars, it is worth shopping around. And, in case if you’re wondering whether moped insurance can be expensive, the answer is simple. The deductible can get as high as 1,000 dollars.
What if you ride a vintage moped?
In case your vehicle is a classic model, you will still need insurance for it, as you will use it on public roads. Still, since the value of your moped is above that of a model that is currently sold on the market, you will have to get your insurance from a company that specializes in such vehicles so that you can make sure that you receive the proper compensation in case your moped gets damaged in an accident.
Before hurrying to get insurance, make sure that your insurer can really cover for a vehicle that may be difficult to repair in the first place. Ask the representative about details on what insurance is offered for vintage vehicles.
What factors influence the cost of your insurance?
While motorcycle insurance includes moped insurance in most cases, you may be wondering what factors come into play when your rate is calculated. For instance, where you live matters, just as mentioned earlier. The year when the vehicle was made and the model play a role. Also, the engine size is another factor to take into consideration.
Your riding habits are vital for the final costs. You will be asked about weekly mileage, where you live, as well as how much experience you have. In case you have anti-theft devices installed on your moped, that aspect will be taken into account, as well.
How much is the cost for moped insurance?
Standard motorcycle insurance is usually cheaper for mopeds and scooters because they are cheaper to repair, and they cannot reach the same speeds as a motorcycle. The smaller engines are part of why moped insurance is less expensive than motorcycle insurance.
Also, their use is limited, as some states won’t allow you to ride a moped on interstates, for instance. Furthermore, the lower speeds you can reach when riding a moped will make the risk of injury and property damage decrease, as well.
The average cost for moped insurance can lead you to somewhere around 250 dollars yearly. Of course, you should be aware that there will be no additional coverages included in this cost.
How to get quotes for moped insurance
One thing you should know is that most insurance carriers can offer you quotes for your moped and the conditions you need to meet to get the right type of insurance. In case you just want to check out what they offer, just search for motorcycle insurance quotes and you will notice that there are even online forms you can complete with details of your vehicle for getting an idea what it would cost you.
Even if the carrier you choose doesn’t clearly offer moped insurance, you may still be able to select the ‘other’ category from the forms available on its website. To make sure that the quote you get is correct, you can even call a representative and ask for specific details.
Most states stipulate relatively cheap insurance for basic coverage, for bodily injury and property damage, for mopeds and scooters. You don’t have to worry about having to pay a small fortune just because you’re riding a moped.
However, you need to remember that other factors will be taken into consideration when calculating the final cost. For instance, someone who just turned 16, and has little to no experience riding a moped, will have to pay higher insurance rates than other riders who already have at least several years of riding experience under their belts.
Insurance carriers consider that riders younger than 25 years of age present a higher risk to cause or be involved in a traffic accident than adult moped riders. The risk is calculated based on statistics, and that’s why young riders are asked to pay higher rates.
Risky behavior that includes ignoring driving regulations, talking on the phone, or speeding, is associated with such riders. However, even if that’s your case, your insurance shouldn’t go as higher than 300 dollars, for basic coverage. Still, if you have at least one traffic violation registered, you should expect to pay more than that.
Don’t forget to ask for rates from different insurers. This way, you’ll be able to compare the quotes provided and pick the one that fits your budget to a tee.