When you purchase a motor scooter or moped, the first order of business should be to determine how much insurance is required to operate the vehicle. In most states, including New York, mopeds and motor scooters are classified similarly to motorcycles.
They can be ridden on public streets (subject to certain restrictions), and they must be registered and insured. The insurance won’t be as high on a moped as it would on a motorcycle, but you still need to be able to prove financial responsibility.
Factors that Affect Insurance for Mopeds and Motor Scooters
As soon as you buy a motor scooter or moped (or even before you buy it), contact your insurance agent. Let him or her know the precise make and model of the moped you are buying, and ask for a custom quote. You will need to provide a variety of information, including how the motor scooter will be used.
Keep in mind that you might not be able to get insurance or registration for some types of motor scooters and mopeds. In New York State, for example, the vehicle must be DMV-certified before you can register and insure it, so you’ll want to make sure you are buying an appropriate machine.
Moped and Motor Scooter Insurance Levels
In most cases, you will only need to purchase liability insurance for your motor scooter or moped. This means that your insurance coverages pays for damages you cause to other people or property. If you want to protect your own property, however, certain types of collision and/or comprehensive coverage may be available for your moped, as well as personal injury protection.
When you finance a motor scooter, your lender might require you to purchase more than minimum insurance, increasing the liability requirements as well as collision. This is to protect the lender in case you wreck the moped before you’ve paid off enough of the loan to cover the damages.
Some insurance companies offer specialized packages for motor scooters and mopeds. These packages are designed to cover the calamities that often befall owners of those types of vehicles, and often include varying levels of liability, collision and comprehensive insurance coverage. You can ask your insurance agent if you are able to build a custom package or if you have to buy a pre-defined package.
Save Money on Insurance
When you buy insurance for your moped or motor scooter, ask your insurance agent about ways to save money. For example, if you piggyback the policy on top of another policy, will they give you a discount? What if you only ride the vehicle in rural or unpaved areas?
You might want to obtain several insurance quotes before making your decisions. Mopeds and motor scooters require more specialized attention than, for example, a car insurance policy, so it pays to do your research.