Moped insurance for a 16-year-old riding a 50cc moped or scooter starts at around £220 a year and they're likely to find a number of quotes with a range of benefits for about £250.
That is for a basic third-party policy; third party fire and theft or comprehensive insurance is likely to be more expensive but will give you greater cover.
Moped insurance for a 25-year-old riding a 50cc moped starts at about £85 a year and there are a range of quotes around the £130 mark.
You can compare moped insurance quotes using Gocompare.com.
Find out the other factors that affect the price of insurance below.
These prices are for a Baotian Falcon 50 R moped. Scooters or bikes that are 125cc or more come with greater insurance costs.
Cheap to run, cheap to insure
Mopeds are cheap to buy, run and insure so they’re a great option for young people traveling to and from school, work or university, and commuters who want a quick way to navigate through UK cities.
It’s possible to drive them on a provisional licence when you’re 16 but like a car it’s a legal requirement to have insurance. This article looks at what you need to know when getting a quote and how to potentially save money.
If you’re looking for motorcycle insurance see our guide to the best providers. Providers such as Bennetts will also cover mopeds.
You can get a quote for your bike on Gocompare.com.
Moped seized on Broughton Road, Crewe for driving with no insurance. Rider reported. pic.twitter.com/Gfh0r2C059— Crewe Police (@PoliceCrewe) April 4, 2016
- Age Riders with more experience will have a cheaper insurance premium. Insurers do see younger people as higher risk so a 25-year-old who has just got a licence is still likely to be quoted a lower price than a 16-year-old.
- Licence and driving courses An easy way of judging experience is the kind of licence a moped owner holds and whether they have taken any advanced rider training courses. To ride a moped you only need a provisional licence and L plates. Many people find this cheaper and more convenient than paying for a test but holding a full licence will bring insurance costs down.
- Size of engine Generally the more powerful the engine the more risk there is of a serious accident. So the higher the cc, the higher the insurance premium.
- Security Investing in security for your moped could generate modest savings. Insurers will ask whether you have an alarm, security markings, tracking devices and where the moped is stored at night.
- No claims bonus Like car insurance, the safer you ride and the longer you go without making any claims on your insurance the greater discount you’ll be eligible for. If you’re driving on a provisional licence it will still count towards your no claims bonus and you can transfer your bonus if you switch insurers.
- Excess The excess is the compulsory amount you will have to pay if you make a claim. Insurers should give you a selection of amounts to choose from when you take out the policy, for example, £100, £250 or £500. The higher you set the excess the cheaper the premium will be. But make sure you can afford to pay it if you have an accident.
- Where you live You can’t control it but your postcode does have an impact on your premium. If you live in a city your insurance is likely to be more expensive.
There are a number of other factors that can affect the cost of insurance, such as the make and model of the scooter. Classic mopeds look great but will cost more to insure.
Insurers will offer different prices so it’s worth shopping around and comparing quotes. They’ll also include different things in their policies, for example, some may include helmets and leathers as standard while others will offer it as a paid-for extra.
Moped insurace for the year is a little bit more than car Insurance for a month...— Isaiah Lozano (@The_MeSsIaiah) May 12, 2016
It’s important to make sure you select the right level of cover. Although third party insurance will be cheapest you could end up paying more and being off the road longer if your bike is stolen or damaged and you’re hit with expensive repairs or replacement costs.
Comprehensive cover will cost more but it will give you peace of mind that you’ll be covered for all eventualities.
If you spend a bit of money upfront on things like security and advanced rider training you can make long-term savings on insurance. But even if money is tight when you first get a moped, with a little bit of knowledge and price comparison you should be able to find affordable insurance.