If you are planning to purchase a new moped, you need to make sure you also purchase insurance. Below are some reasons why you should do this, as well as different types of insurance you can choose from.
Reasons To Get Insurance
Depending on what type of insurance coverage you purchase, there is insurance that will cover you if have an accident that causes injury. It can also cover anyone that you injure in an accident. It can also pay for any damage that you caused to property. If the person or people that you injured are not able to work due to the accident, the insurance can also pay for the income they lose.
If someone sues you because of the accident, insurance can cover legal defense for you. If you are killed or someone that was riding on your moped was killed due to the accident, insurance can help pay funeral costs. This will happen even if the accident was not your fault.
Types of Moped Insurance
There are different types of moped insurance that you can purchase. What you do purchase will depend on the coverage that is offered. For example, some insurance may not cover your moped. Because of this make sure you speak with the insurance agent and that you understand the policy you choose. Two types of insurance you can choose include the following:
Comprehensive Moped Insurance
Comprehensive moped insurance coverage is the type that covers everything. Comprehensive coverage also covers your moped if it is stolen or catches on fire. This type of insurance will be the most expensive, but if you drive your moped a lot, this would be the best choice. For example, if you drive your moped every day or if your moped is very expensive and would be difficult for you to replace, you should choose comprehensive coverage.
Third Party Coverage
Third party moped insurance coverage covers the third party but does not cover you in any way. For example, if you cause injury to someone and injure yourself, the insurance will pay medical costs for the injured third party but would not cover medical costs that you would have to pay. One type of third party insurance covers your moped if it is stolen or catches on fire and other third party coverage does not cover this.
Talk with an insurance agency, such as Insure My Vespa, about moped insurance coverage to help you decide what type is best for you.