With the economy still weak and gas prices at all time highs more people are trying to find ways to cut expenses and save money. High gas prices always get people to reconsider how they are traveling. More and more people have started looking at scooters and mopeds to have more fuel efficient alternatives for their commute. It is a great way to save money every day.
Many people aren’t aware of what goes into owning and legally operating a scooter on the streets though. It actually isn’t that different from the requirements of driving a car, truck, or motorcycle. Motorcycles are most similar, and depending on your state and the displacement size of your scooter’s engine it may be simply classified as a motorcycle.
In most states, scooter insurance is required if the engine size is 50cc or higher. Less than 50cc is classified as a moped, and typically does not require insurance of any kind. A very few states base the regulations on the maximum speed of the scooter. It is important for you to find out the regulations of your state because a uninformed or unethical insurance agent might try to get your money even if it is not required for your scooter.
In the age of the internet, you will probably be better off comparing companies and policies online before calling an agent. You may even be able to purchase and print out proof of coverage on the spot. If you have concerns or want to ask about coverage or discounts, that is what the agent is there for.
Your scooter rate will be based on several things:
- Driving history
- Credit History
- Make/ Model of the Scooter
- Engine Size
- Coverage Options
These factors will be combined together and put into a computer algorithm to determine your eligibility and price of your insurance coverage. Based on the results, you will also need to decide on your coverage options. Scooter liability insurance will be the minimum and your company may offer options for covering theft and replacement of your scooter in case of an accident.
There may also be ways to get discounts on your scooter insurance. Good students, with high GPA’s, often get discounts on auto and scooter insurance. Taking a scooter or motorcycle safety course may also make you eligible for a discount. The Motorcycle Safety Foundation (MSF) is a good place to find more info on these safety courses. Another option for discounts is bundling your coverage. You can bundle your coverage if you have other insurance such as home, auto, or life insurance with the same company.