What does Moped Insurance cover?
Often moped insurance will be covered in a motorcycle insurance policy, which covers all forms of two-wheeled road transportation. Generally this form of moped insurance is a comprehensive policy that covers a number of areas including damage, public liability, roadside assistance, medical expenses and travel expenses.
These services are quite often limited to the immediate event, so perhaps obtaining further roadside assistance cover is advisable. Some moped insurance companies have been known to exclude some types of moped based on the risk category they fall into, however there are also companies who will specialise in these types of vehicle.
Obtaining moped insurance will cover you for injury and damage that is a result from a road accident and a claim can cover all of the financial aspects this type of accident depending on the level of cover. When choosing your moped insurance make sure you choose a policy that covers your motor vehicle accessories such as your helmet and leathers, as well as the saddlebags and backrest.
Often a basic moped insurance policy will only give limited cover on certain items. Moped insurance may also neglect to cover weather-related damages to your moped, so it is important to store your moped correctly.
Moped Insurance Policies
The cost of your moped insurance can depend on a number of additional factors, including age, experience and the make/model of your moped, so finding the right policy can cut costs considerably. Being a moped only driver can be an advantage as premiums are considerably lower for moped divers than that of cars or larger motorbikes.
Due to mopeds being smaller than most other motorcycles and harder to see on the road, as well as motorists misjudging the speed of a moped, it can be important to pick the highest level of moped insurance cover that is available to you. The following are the typical options when considering moped insurance:
Third Party Insurance: third party moped insurance is the basic cover that is required by law. This will cover your liability to others and their property, meaning they will be compensated for any damage caused by you.
Third Party Fire and Theft: third party fire and theft moped insurance provides the same cover as third party insurance, but with the bonus of being protected against the theft of a moped or any damage caused by fire. This is a particularly appealing option for insurance of moped drivers as mopeds are easy to steal and to damage by fire, however it does not cover the cost of any damages to your moped in an accident.
Comprehensive Insurance: comprehensive moped insurance is a higher level of cover that provides everything in the third party, fire and theft insurance but also includes loss or damage to your moped. This is a more expensive option, but it can provide to be the most valuable form of insurance in case you are involved in an accident.
Things to consider when choosing your Moped Insurance
Insurance premiums generally depend on how much of a risk you are on the road. As a learner driver, you are seen as being at a higher risk and you will have no history of a no-claims bonus. If you are under thirty years of age your moped insurance will be more expensive and if you are under twenty-one years of age it will be more expensive still, therefore it is hugely important to compare moped insurance providers to find your cheapest option. Things to take into consideration when searching for a moped insurance policy include:
Age: if you are under thirty years of age or under twenty-one you will pay more ito insure your vehicle. It is often cheaper to opt for third party insurance for the lowest cost of insurance, alternatively you can be a named driver on someone else's policy, which can also be the cheaper option.
Mileage: if your moped is not your primary form of transport you should estimate your mileage based on your moped and not your car mileage. This is important as the average moped mileage is considerably less than car mileage.
Security: if your vehicle is properly stored and locked correctly your insurance policy will be cheaper.
Gender: there are several insurance providers offering cheaper policies for female drivers.
Other factors: using a moped for work-related purposes, the area you live in and the crime rate of that area and the engine size are amongst several additional factors when selecting your moped insurance.
When embarking upon your exciting new position as a moped driver consider all of your options carefully. There are a number of companies that specialise in providing only moped insurance, which can give you a much lower insurance quote. Ensure you shop around and talk to other experienced drivers as they can provide much-needed help when choosing your policy. Moped Insurance policies can be purchased from banks, building societies, on the internet, from specialist insurers and many other outlets.