Most people who buy mopeds never buy insurance for them. Perhaps, they think that if someone steals it, they will just get a new one and their insurance is buying a really good lock. Yeah well I have one of those too, I certainly don’t want my custom scooter stolen, it’s fun to drive, cheap on gas and when I drive it I feel like I’m helping the United States of America break its addiction to Foreign Oil from the Middle East. As a proud citizen, that is the least I can do.
And in fact, paying $ 3.50 to fill it up with gas for a two-week city cruise is a kick too, especially when someone at the gas station next to me is invariably filling the Suburban with $ 185 worth of gas. Mopeds are a great way to save money, yes, there is no doubt and it is a less imposing and environmentally friendly means of transport. But don’t go overboard with saving money when it comes to purchasing insurance for your small two-wheeler. Why do you ask?
Well, firstly, moped insurance is very cheap, so it’s stupid not to buy it, and secondly, it’s the law in many states, if you don’t buy it, you are breaking the law and suddenly you don’t. is. a great citizen after all. Even if you own your moped and don’t insure its value, you should have liability insurance in case you are involved in an accident. Let me tell you a little story.
A friend of mine was riding his moped and using hand signals, apparently another car missed him and hit him sending him into the next lane. A car swerved out of sight and collided with a fire hydrant. Yes, I know you’ve seen that ultimate city water feature before. The car that hit the fire hydrant collided with a telephone pole and the airbags deployed. The driver was injured and the car that hit him kept going.
Nobody got the license plate number or even saw another car hit my friend. Fortunately, my friend had liability insurance on his moped and it covered all damages (city = $ 10,000 and vehicle = $ 22,000) and minor hospital bills ($ 24,000 less by today’s standards). If you hadn’t had insurance, you would have been sued with a penny. So buy moped insurance, it really doesn’t cost that much.
