How Much Does Scooter Insurance Cost?
Purchasing a scooter or moped can help you save a lot on gas; however, just like the other cars on the road, insurance is going to be required in order to drive it legally. Just like car insurance, scooter insurance will require a customized, detailed report that will carry a certain deductible or co-pay as well as a liability limit. The cost of this insurance is going to greatly depend on the type of insurance required, the location, the age of the driver, the driving record, as well as other factors.
How much is it?
- On average, scooter insurance is going to vary anywhere from $20 to as much as $210 per year. Most policies will require that you put this money up front for the year. Check with your state laws to see what type of insurance you should get and how they will classify your motorcycle. Some states consider an engine smaller than a 50cc a moped.
- For example, a policy in Manhattan cost cost anywhere from $90 to $140 for the year. A policy in Des Moines, Iowa cost anywhere from $22 to $75 for the year.
- According to a City-Data.com forum thread, users in California has stated that they paid upwards of $100 for a minimum insurance policy. This particular policy was for a 150cc air-cooled 2-stroke manual scooter. On average, the larger the engine is with the scooter, the more it’s going to cost.
What are the extra costs?
- Additional features such as roadside assistance, towing and labor, vintage bike coverage, as well as kit coverages can add on top of the premium.
- If you think that the value of your scooter is more than what the insurance company states, a professional appraisal may be necessary in order to get an exact quote on thew value of your scooter. This is ideal for those that customize their bikes with kits, etc.
What is going to be included?
- Policies are going to protect you from theft, vandalism, collision, and damage that may be caused by uninsured motorists. Each and every policy is going to greatly vary so make sure that you talk with your insurance agent to know what’s going to be covered just in case an accident does happen.
- Basic coverage is going to cover the scooter’s value, which will be up to $30,000. It will also include medical payments if an accident occurs as well as liability for a guest passenger. The value is generally determined by the Blue Book value.
How can I save money?
- Many big name brand insurance companies such as Nationwide give discounts to those that take a scooter safety course.
- Insurance companies will also give discounts to those that already have insurance with them such as a home, another car, boat, etc. Ask your insurance company right now to see if they can offer any type of discount.
- Those that pay up front will find that they can save on the annual premium rather than paying month by month.
- Compare at least 3 quotes online. Services such as InsureMe make it easy to get all of your quotes in one place.