Do you need insurance for a moped?
Due to their small engines and simple design, mopeds are favoured among young riders and those needing a small inner-city vehicle. They’re much cheaper to run than a car, and are overall less dangerous. If you’re thinking of buying a moped, you might be asking yourself: “do I really need insurance?”
The short answer is yes. Every vehicle on the road is required to have insurance, and the consequences for not doing so are massive. Not only could you be banned from driving for an indefinite amount of time, you could be liable to pay any outstanding money, regardless of the amount.
What is insurance for?
Insurance is a weird thing to buy because it’s something no one ever wants to use. The purpose of insurance is to give you (and other drivers) someone to claim from for damage caused to your moped in the event of a collision. Getting a vehicle repaired can be an expensive business, and is something not many people can afford to do out of their own pocket. Insurance can be expensive, especially for young riders, but there are different levels available at different costs.
Third Party Only
This is the cheapest level of insurance, and doesn’t let you claim for any damage to your moped after a crash. The purpose of insurance is to make sure a person isn’t at a financial loss after a crash that wasn’t their fault. Because of this, the most basic level only allows other people to claim against you. It might be tempting to choose this option and just pay for your own repairs, but it could end up costing you more money in the long run.
Third Party Fire & Theft
This gives you all the same protection as Third Party Only, but also lets you claim for damage to your vehicle in the event of a fire, or if it’s stolen. If you can’t afford fully comprehensive this is the next best option. Being able to claim in the event of a fire or theft is useful because these situations almost always result in your vehicle being written off.
Fully Comprehensive
This is the most expensive level of insurance, and has all the same features as the previous levels. The main bonus with this is that it allows you to make a claim for damage to your moped in the event of a collision being your fault. Some insurers also allow you to claim for your own injury and personal belongings, but these are usually add-ons. Although it is expensive, being able to claim for your own damage is a massive bonus, especially when you’re new on the road.
Choosing the right level of insurance can be difficult, but the most important thing to remember is that you do need to be insured. We offer to compare the market for you to find the best prices of all levels so you can make the best decision.
