With the cost of fuel going up across the country and other expenses following suit, it is great when you can cut down on your vehicle and transportation costs with something like a moped to help you get around town. A moped provides you reliable and convenient transportation along with parking, but it is also important that you protect your moped and your safety with the right type of vehicle insurance. Here are some tips and recommendations to help you get the right insurance for your moped and your personal safety and protection.

Understand Your State's Requirements

Insurance requirements can vary based on your state of residence, so it is important that you find out the requirements of your area so you can follow the law and keep up with your legal requirements. Keep in mind a moped cannot travel fast enough to get up to safe highway speeds, so you don't need to worry about highway safety with your insurance. However, it does need specific insurance coverage to protect you and others around you when you drive.

Each state will have different requirements for your moped's insurance coverage. Some states will require you to have liability insurance as a minimum to cover any damage or injury that you cause to another person, vehicle, or property. This liability insurance will pay for hospital bills, repairs to a vehicle, or a fence, for example. It will also cover someone riding with you if you accidentally crash your moped somewhere.

Decide on Your Coverage Needs

When you have determined if you need to get liability insurance for your moped you can look at other types of insurance coverage that you may need. Talk to your insurance agent about moped insurance and ask for a quote on its price to see the affordability of your specific coverage in an insurance policy. If you have applied for a loan to purchase your moped and you have a lien holder or bank with the loan, the bank will usually require you to have collision and comprehensive insurance to cover the moped in any event of damage from a collision, weather, or vandalism. Otherwise, you can add on different coverage policies to protect your property.

In addition to liability, collision, and comprehensive coverage, you can look at adding medical bill coverage, which is going to cover medical bills for an injury. This can sometimes be over the amount of coverage you might already have for collision or liability. You may also need uninsured or underinsured motorists' coverage to pay for damages or injuries that are not covered by someone else's insurance or a lack of insurance.