15 Jun Do You Need Moped Insurance? Essential Guide
Am I Required to Get Moped Insurance?
When you think of mopeds, you probably think of riding Vespas through the winding roads of Italy, but many people use mopeds to get around town and have some fun. Mopeds can be a cheap transportation option for those living in cities or for those who live in close proximity to most of their destinations. Mopeds can travel of speeds up to 30 mph, making them more efficient than traveling on foot or by bicycle.
So, do you need moped insurance if you own a moped? Whether you need moped insurance or not is determined by the state you live in. There are 26 states in America that don’t require you to have coverage on a scooter or moped. While it may not be required in the state you reside in, you should always consider getting coverage for the sake of you, your passengers, and others on the road.
While many people view insurance as an unnecessary expense, insurance coverage can save you a lot of money in the long run if you’re involved in an accident. You should at least get liability coverage on your moped, even if you live in a state that doesn’t require insurance. Keep reading to learn more about getting your moped covered.
When many people think of getting their moped insurance coverage, they assume that they’ll need a form of motorcycle insurance. After all, there are many similarities between mopeds and motorcycles; both have two wheels and are powered by a similar motor; however, there are significant differences that require certain coverage.
Most moped insurance policies will fall under a type of motorcycle coverage; however, your agent will look at the qualities that your vehicle has to determine the price and type of coverage your moped requires. Legislation can vary greatly by state defining the difference between a motorcycle and a moped, so it’s important to do your research ahead of time.
What Does Motorcycle Insurance Cover?
A motorcycle is a two-wheeled vehicle that has an engine larger than 250cc. Motorcycle insurance can be even more expensive than most automobile coverage since there is a greater chance of an accident when driving a motorcycle. To learn more about motorcycle insurance, visit our motorcycle insurance service page.
What Does Moped Insurance Cover?
A moped is a two-wheeled vehicle that has an engine smaller than 50cc. The smaller engine of a moped only allows it to go around 30 mph at its fastest. Moped insurance will be cheaper than most automobile policies since these vehicles travel at slower speeds and are confined to city streets rather than traveling on highways and expressways.
Different Types of Moped Insurance
As with most types of insurance, you can choose different levels of coverage for your moped. The greater the level of coverage, the higher the insurance rate will be. Keep reading to learn the different types of coverage you can get for your moped.
Moped Liability Insurance
Many states will require at least a form of liability insurance on your moped. If your state doesn’t require insurance for your moped, you should at least get liability coverage on it to help protect you from the financial burden of an accident.
Liability insurance provides coverage for the other party is you are liable for any accident or injury on your moped. This would cover passengers riding on your moped, damage caused to another vehicle by your moped, or any injury caused by your driving and your moped.
Liability insurance is the lowest form of coverage you can find, and it will be the cheapest option for covering your moped. It will still protect you from the financial burden of paying someone else’s medical bills or paying to fix a vehicle you caused damage to; however, the insurance will not cover any damage to your moped or injury to yourself.
Collision Moped Insurance
Collision Moped Insurance is the next step up from liability insurance. With this insurance coverage, your injuries and damage to your moped are covered, even if the accident was deemed your fault.
If your driving has been the cause of accidents before, some insurance companies may require you to purchase collision insurance instead of liability insurance. This is always an incentive to drive with awareness and precaution!
Comprehensive Moped Insurance
Comprehensive Moped Insurance would cover any damage to your moped that wasn’t caused by a vehicular accident. Let’s say you parked your moped under a tree and that night a tree branch fell and damaged your moped. Comprehensive insurance would cover this event.
Comprehensive insurance will also cover damage caused by theft, natural disasters, animals, and weather. If you decide to not purchase comprehensive insurance for your moped, the safest thing to do is to find a garage to park your moped in to protect it from damage!
When it comes to choosing the right insurance coverage for you, always hope for the best and prepare for the worst. If your moped is vital to you for transportation and getting to work, it’s important to have coverage to repair and even replace the moped if need be. Keep these things in mind when looking for moped insurance.
Is Moped Insurance Expensive?
The first question many people ask when it comes to purchasing insurance is how expensive is the coverage? Luckily, you can find reasonable moped insurance. The average annual premium for liability moped insurance is $300, while for a full coverage annual insurance premium, you can expect $2000.
It’s important to keep in mind that states have varying legislation as to how mopeds are defined. In some states, your moped may be considered a motorcycle, and motorcycles are known to have much higher insurance premiums. Researching your state’s laws and legislation before purchasing a moped will have you know what financial commitment you will have to take on if you purchase a vehicle like this.
If you’re reading this article, you may be contemplating whether or not you should buy a moped. Mopeds are great vehicles and have become a more popular way to travel to local locations. Here are some things to consider if you’re looking into purchasing a moped:
Where Are You Travelling To?
Mopeds can be very efficient when it comes to getting around the city; however, if you are regularly traveling long distances by freeway or expressway, then a moped is not the best option for you. Mopeds aren’t legally allowed on highways and interstates, and they travel much slower than cars, so getting to a destination further away would take a long time.
If your life revolves around a few square miles, then purchasing a moped is a great choice. They are great for getting around a city, as they allow you to navigate through traffic much more easily.
Save Money on Gas
When you purchase a moped, you can save money in a lot of areas. You’ll find that gasoline will go farther in a moped, and you won’t have to spend a ton of money to fill up your tank. You’ll also find that many insurance premiums on mopeds are cheaper than most automobile premiums.
Parking Made Easy
Mopeds make parking easy! If you live on a city block or travel downtown, finding a parking spot for a moped is much easier than finding a parking spot for a car. Mopeds can fit into small spaces that a car couldn’t.
Alternative Transportation Options
If driving a car isn’t an option for you, consider other modes of transportation. Is there a bus system you can take? Is your location within walking distance? Your decision to purchase a moped will be determined by how you feel about alternative transportation options.
Frequently Asked Questions
Do I Need a License to Drive a Moped?
Whether you need a license to drive a moped will be determined in the state you live in. In some states, you may be required to have a license and take a motorcycle driving class; in other states, as long as you have any type of photo ID and you’re above the age of 16, you can drive a moped.
Mopeds are common vehicles driven by highschoolers since in many states, a license isn’t required to drive them. As long as you follow the state laws and obey the road laws, driving your moped should be a breeze.
Does My Moped Need to Be Titled?
Once again, whether you need a title for your moped will be determined by the state you live in. In some states, a title is required for any vehicle that is on the road, while in others, titles aren’t required at all. Either way, it is a good idea to title your moped so that there is a record of your ownership and transfer of title when you sell it.
We hope this article was able to answer your questions when it comes to finding insurance coverage for your moped. At Tulsa Insurance Guy, we offer a wide range of coverage for everything in your life. To learn more, get a quote here.