A moped is a great way to get around without the expense of owning or maintaining a car or a motorcycle. You will, however, still need to purchase insurance for your moped. There are 5 things you need to know about moped insurance.
1. Requirements can Vary from State to State
Some states will require you to have moped insurance while others won’t. Almost half of all states require liability insurance for moped owners. It’s also important to know what exactly is considered a moped as opposed to a motorcycle or a scooter. The definition can vary from state to state. The size of the engine and how fast it can go is taken into consideration in each state when deciding insurance requirements.
2. It’s often Covered Under Motorcycle Insurance
Insurance policies specifically for mopeds is actually uncommon, as you’ll find when you ring a broker such as One Sure Insurance. Most companies will cover a moped under some type of motorcycle policy. Many types of motorcycle insurance will give owners the option of covering several vehicles under one policy. This will vary among different insurance companies so it’s important to ask exactly what each policy will cover.
3. There are Different Types of Coverage
Just like with regular vehicles such as cars and trucks, there are different types of coverage for moped owners. The most basic type of insurance, and the type that is required by most states, includes bodily injury and property damage. This means bodily injury others may suffer or property damage that you may cause is covered. Medical and types of collision coverage can also be obtained. Medical will pay for any medical expenses you may have as the driver and collision will help pay for any damage to your moped.
4. How You Use Your Moped Will Affect Insurance
When you apply for insurance you will normally have to state what you generally use your moped for and how often you use it. Do you just use it occasionally for social use or is it your primary means of transportation? Do you use the moped for business reasons such as working as a delivery person? You will also likely be asked how many miles you ride your moped each week as well. These are all factors that will determine what kind of insurance you should purchase and how much it will cost.
5. There are Exclusions and Additional Protections
You need to be aware of what your coverage specifically will cover and what it won’t cover. For example, if you have an accident while racing on your moped, even if it is a legal sporting event, and you don’t have insurance specifically to cover that, your accident won’t be covered. If you regularly carry valuable items on your moped you will likely want to purchase some type of carried contents coverage. If any items fly off your moped while driving and are lost or damaged, this type of insurance will cover the costs.