Do You Need Insurance for a Moped?

mopeds. The attraction is real. Is that incredible gas mileage? Minimal repair? Easy parking? Or is it just because they look so much fun?

Either way, the moped appeal is exploding!

But along with maintaining that new appeal, a new problem arose: Do you need insurance for your moped?

Actually, yes, you do. Let’s review why you need it and how much it will cost.

Since mopeds have become very popular, especially in metropolitan locations, most insurance providers today offer insurance specifically for mopeds.

But like auto insurance and motorcycle insurance, insurance requirements and coverage limits for mopeds differ from state to state, from provider to provider, and also from driver to driver.

But usually speaking, here is a breakdown of the typical moped insurance coverage options:

Each of these types of coverage has an amount of money options that you can choose from. Understand that the amount of coverage you choose directly affects your premium—the bigger the coverage, the bigger your premium.

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But keep in mind that the purpose of insurance is to protect your property. You want the same level of protection for your belongings, no matter what you’re driving. So don’t make the mistake of skimping on your coverage amount even if your moped costs a lot less than your car.

Now that you have a basic idea of ​​your coverage options, let’s go over the defined requirements.

While some specs leave it up to you, some do require moped insurance. Specifications that require them to base their choice of request on your location and/or the dimensions and engine speed of your moped.

For example, if you live in New York and drive a fast moped (a course A moped that can go 30 to 40 mph), you are required by law to carry moped insurance.

Also if you live in a certain place where moped insurance is optional, we recommend that you carry at least minimal coverage. If you’ve been in an accident (hope it never happens to you!), minimal liability insurance will cover expenses for clinical costs and property damage/physical injury to other people, consisting of your passengers.

Remember, too, that if you rent or finance your moped, your lender will probably need insurance. (Keep in mind: you can’t rent or finance mopeds or cars or boats or anything. Yes, everyone does. And everyone breaks!)”

Your best option is to speak with a regional insurance representative who can advise you on the moped insurance requirements for your circumstances.

Do You Need Insurance for a Moped?

Fortunately, moped insurance tends to be less expensive than traditional motorcycle insurance. This is mainly because mopeds have smaller engines than motorcycles and cannot go as fast, limiting the amount of damage they can do to individuals and/or property.

The cost of moped insurance depends on several factors, including:

Determining specific costs for moped insurance is difficult because there are so many variables. But typically, moped insurance can cost anywhere from $35-125 per month.

As we mentioned, the appeal of mopeds is trending up. Fast!

Don’t delay contacting one of our Supported Local Service (ELP) companies who can tell you exactly what fixed moped insurance terms are within your specifications, which insurance provider offers the best coverage at the best cost, and what your coverage options are. .

Find the best moped insurance broker near you today!

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