Once a sign of youthful independence and rebellion, the humble moped is now regarded as one of the most economical ways of travelling. Bizarrely, insuring your moped used to cost more than insuring a motorcycle (due to an increased likelihood of theft) but thanks to advancements in security and competition, moped insurance is now cheaper than ever.
What’s The Cover?
Moped insurance, like any vehicle, is a legal requirement and comes in the standard comprehensive, third party or third party fire and theft policies. You also have the option of extras with moped cover such as travel abroad or clothing protection.
OK, Give Me The Best Deals
Bennetts have a policy called The Ultimate Cover which gives you extras such as legal expenses, RAC breakdown cover and protective clothing cover. Normally this is one of the dearest policies, but for a limited time they are offering a 50% discount.
Swinton’s cover is quite basic (each extra needs to be added separately) but with various cashback sites refunding you up to £30 and with a 20% discount when you buy online, you could do worse than take this policy.
The AA have a reduced rate for mopeds that doesn’t include breakdown cover but does allow up to 70% No Claims Discount.
I’m Only Sixteen Years Old…Help!
Being under 21 can be a huge disadvantage when looking for cover and in fact some insurers will refuse to cover you if you are under that age. Most do offer cover but will ask for an extra excess for any driver under 21. Bennetts and Hastings Direct are great for young drivers as neither ask for an ‘Under 21 Excess’ and Bennetts’ 50% Ultimate Discount still applies.
Can You Get it Any Cheaper?
Every single insurer will charge you more if you pay by Direct Debit with the likes of RAC and eBike both charging upwards of 35% APR. If you simply have to pay by DD, the cheapest monthly interest is with The AA.
Many top policies also include foreign travel and breakdown cover. If you like the look of a policy and don’t require these extras, contact the insurer to get a new quote without the cherries on top.