- Created: 09 July 2015
Getting your first moped may be your first taste of freedom on the roads, but it's also likely to be your first experience of sorting out insurance, too.
Insurance is one of those things you buy in the hope you'll never actually need it, but that doesn't mean you shouldn't think carefully about what you're getting – because when you do need it, the right policy can make all the difference.
What do you need?
There are three basic kinds of insurance that you can choose from:
- Third-party only insurance, which will pay out to cover damages or injury caused to the other person – and their property – in an accident, but not you.
- Third-party fire and theft insurance, which is the same as above, but will pay out to cover any damages caused to your bike by a fire, or if it is stolen.
- Comprehensive insurance, which – as the name suggests – covers a much wider range of situations, including those listed above. It will also cover damage to your own bike, and may even contribute to your medical expenses if you're injured. Of course, different comprehensive policies will cover different things, and there will be different exclusions. Some will cover you abroad, for example, whereas others won't.
Every policy (except for third-party only policies) will also have an excess. This is the amount that you will have to pay yourself when making a claim – regardless of what's happened. A lower excess means you have to put up less of your own money in the event of an accident, theft, fire, and so on.
How much is moped insurance for 16-year-olds?
Unfortunately, moped insurance for beginner young riders can be on the expensive side. Your relative inexperience on the road makes you much more of a risk for insurers, as you're more likely to have an accident and make a claim – statistically speaking, anyway. You also won't be entitled to any no claims discounts or bonuses yet – you have to build those up.
The prices will vary depending on a number of factors, but don't worry! There are some things you can do to bring that price down.
How can you bring the price down?
Start small: You may be tempted to save up and go for the most powerful bike you can afford – and legally ride – but it can sometimes be best to save that for further down the road. A smaller engine size can often be cheaper to insure, but it will obviously depend on style, age and the area you live in.
Lock it up: Unfortunately it's just a fact of life that insurance tends to cost a bit more if you live in a city. But wherever you are, you can bring the price down if you have a secure garage in which to store your moped. Owning secure locks for when it's parked up out and about will also work in your favour.
Train, and then train some more: Taking advanced courses after your CBT can help bring the price down, as it shows you're a safer rider.
How do claims work?
If you're in an accident, or find your moped is stolen or damaged by fire, it is important to record the details clearly. Write down your account of the incident as soon as it happens – it will make things easier in the long run.
If anyone else is involved in an accident, you should also exchange contact and insurance information with them, and have this in hand when you come to claim.
You will then need to call your insurer to make a claim – and this is where individual insurance companies really separate themselves. Many will make similar promises, but will provide very different experiences of the claims process – be sure to check reviews online from other customers before committing to a policy.
The process will differ depending on the incident and what level of cover you have, but essentially you will have to pay your excess, and then see what the outcome of your claim will be. You can find more information on the claims process with Carole Nash here.
The most important thing to remember is that insurance shouldn't be a headache, and is there to help you get out on the road, not keep you off it! If you have any questions about organising moped insurance for the first time, then you can always contact us.