Considering The Purchase Of An Alternative Transportation Source? 3 Things To Know About Insuring Scooters, Mopeds, Or Vespas

Posted on: 30 November 2021

As gasoline prices continue to rise across much of the nation, interest in other forms of transportation is also growing. Three of the most popular forms of alternative transportation are mopeds, scooters, and Vespas, all of which offer inexpensive transportation in the form of a lightweight, two-wheeled vehicle. While this type of transportation has been around for decades, it is becoming increasingly popular with those who want to reduce their transportation budgets or decrease their dependence on petroleum. 

If you are interested in purchasing and operating a moped, scooter, or Vespa, it is important to get a good understanding of your basic responsibilities as an owner or operator, including requirements for insuring the vehicle. 

Size is a determining factor for insurance purposes

In most states, operating a moped, scooter, or Vespa on a public road will require liability insurance coverage if the vehicle is equipped with an engine of at least 50 cc in size or the vehicle has a top speed of 30 or more miles per hour. Smaller, slower mopeds, scooters, and Vespas may not require liability insurance coverage. 

Coverage can be purchased in a variety of forms

Insurance coverage for Vespas, mopeds, and scooters can be different depending on which insurance company you work with and whether the vehicle is owned, leased, or financed. In some instances, insurance providers classify coverage for these vehicles under motorcycle policies, while others offer more specific coverage. If the vehicle is leased or financed, the lender or leasing company will likely require insurance coverage even if the vehicle falls below the required engine size or maximum speed rating. 

Discounted rates are offered by many insurance providers

While the cost of insuring a moped, Vespa, or scooter is very affordable for drivers with good driving records, there are some additional discounts that should be explored to further reduce the annual premium cost. Households that already own and insure other vehicles or carry other types of insurance may find that it is possible to receive a significant multi-policy or multi-vehicle discount when purchasing this type of coverage. 

Additionally, many insurance providers are happy to provide discounted coverage for Vespa, moped, or scooter owners who take actions to reduce their level of risk. Two important ways in which owners can reduce risk are to take and pass an approved safe operating class and to park the vehicle inside a locked garage when it is not in use. 

Owning and operating an alternative transportation option can help you reduce gasoline use and avoid high parking fees. To learn more about your responsibilities as an owner or operator, contact an insurance broker or agent who offers Vespa, moped, and scooter insurance coverage.