You Need Moped Insurance: How Much You Pay for it?

It may seem strange to some that a moped or scooter actually needs insurance. But the truth is that having insurance is an important part of owning a moped. This article will give you everything you need about moped insurance, policy benefits, costs, and types of coverage available in the market.

Do You Need Insurance for a Moped?

Even though it is a rather small vehicle, a moped is still a considerable investment, and insurance offers a way to protect what you have spent on it. The cost of moped insurance will vary depending on several factors and the type of coverage you see fit for your investment.

If you live out in the country or a community with very little traffic, you might get away by not having insurance assuming there are no requirements.

However, getting insurance is a must if you live in a city with heavy traffic since the chances of having an accident are greatly increased.

The truth is that every moped owner needs insurance to protect their vehicle and whatever damage it causes in an accident, whether it is required by law or not. Being an uninsured driver puts you at great financial risk if you should be involved in an accident.

So, it is important to get classic moped insurance if you drive a gasoline model or electric moped insurance if you drive a modern, battery-powered version. Depending on the category of your moped, you need more or less coverage.

How Much Insurance for a Moped?

The average moped insurance cost will vary quite a bit depending on factors such as age, experience, driving record, size, and speed of the moped, and the types of coverage you purchase. First, you will probably get temporary moped insurance when you purchase the bike that will act as coverage until you decide to get a more permanent policy.

Typically, if you get liability, you can pay as little as $30, depending on where you live. However, if you get full coverage and have issues with your driving record, you may have to pay upwards of $300 or more for an insurance policy. So, the average moped insurance cost is roughly $60 to $100 if you get a simple policy with few features.

Another consideration will be based on the size of the engine, which will determine the speed and weight of your moped. All things considered, 50cc moped insurance will be inexpensive compared to 125cc moped insurance because the former weighs less and is not nearly as fast as the latter.

So, you should expect to pay more for having a faster moped, which will cause more damage.

Moped Insurance Requirements in Your State:

Each state has a minimum requirement for moped insurance that is based in large part on the size of the engine. You will need to check with your state to see the latest rules and regulations for driving a moped, as they can change depending on the passage of new legislation.

Some states, like New York, do not require insurance coverage for mopeds with a top speed of 20mph or less. An accident involving a slow-moving and light vehicle will not cause much damage.

However, it is important to remember that a small percentage of moped accidents set off a chain reaction that may involve larger vehicles, creating more damage and potential injury.

Many states have requirements based on the engine size, meaning that mopeds with 50cc engines or smaller may only require minimum liability coverage. However, a 125cc moped engine, for example, is the equivalent of a motorcycle and may be treated like one in the eyes of the state.

Types of Moped Insurance:

Several types, especially between 50cc and 125cc moped, will require more coverage and higher premium payments. Naturally, your state requirements will be the biggest determining factor. In addition, if you had to borrow money from a lender to purchase the moped, there may be requirements for comprehensive insurance to protect the investment.

Comprehensive: This is considered full coverage that includes liability for bodily harm and property damage along with theft, vandalism, and other factors that may cause damage to your moped. In addition, comprehensive will pay, regardless of who is at fault, to cover medical expenses, property damage, and repairs on the moped.

Liability: This is the basic type of insurance that protects you if you cause injury to another person or property. There is the liability for personal injury and one for property damage, which arguably is more common as it includes fences, cars, and other objects.

Medical Payments: Here, all medical costs will be covered regardless of who is at fault. It is important to note that you should check with your health insurance coverage to see what works best for your needs.

Uninsured or Underinsured: Here, if you are involved in an accident with a driver who has no insurance or not enough coverage for your medical and property expenses, then having an underinsured or uninsured motorist will be greatly beneficial. However, it must be noted that not all states have this particular type of insurance, so check with your carrier first to see if you can obtain it.

In addition, you may get discounts on your moped insurance if you wear a helmet or equip your bike with lights and reflectors for additional safety. The more security your moped has, the better rate you will grab. Each carrier will have unique qualifiers that may help you shave down the premiums for paying the insurance, such as low mileage or perhaps taking a safety driving course.

As you may have noticed, moped insurance has the same basic types of policies as standard automobile and motorcycle insurance, albeit less expensive for the most part. Choosing which policy is the right for you will mean considering several factors, including where you live, your health insurance and other coverage, the size of your moped, and your driving record.

You can apply free quotes from us, compare rates from different providers, and choose the best package you can afford. This is the best way to obtain a suitable policy.