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When Segways first came out, hardly anyone thought about having to insure them. However, Segways are now faster and more sophisticated than they have ever been. This means more fun for the Segway owner, but also more risk.
Segway insurance can help protect you from the financial risks involved with owning and operating a Segway.
Segway Insurance Coverages
Typically, Segway insurance is offered through an insurance company’s motorcycle insurance division. This means that most coverages offered in a motorcycle insurance policy are also offered for Segway owners.
Common Segway insurance coverage types include:
- Liability (bodily injury and property damage) – This will cover injuries or property damage suffered by others in an accident you caused with your Segway.
- Liability coverage does not pay for your own injuries.
- Collision – This coverage will help pay for repairs or replacement of your Segway after it has been damaged in a collision.
- Comprehensive – If your Segway is damaged in a non-collision incident, this coverage will help pay for repairs or replacement of the vehicle.
- Examples of covered incidents include theft, vandalism, weather, and animal collisions.
- Medical payments – This coverage can help pay for your medical costs if you are injured while riding your Segway.
Because Segway insurance is still relatively new within the insurance industry, you may find that coverages and details within those coverages vary between insurance providers. If you have questions about insuring your Segway, speak with your insurance agent to learn more.
Purchasing Segway Insurance
Shopping for Segway insurance may be a little more difficult than purchasing car insurance, because fewer insurance providers offer Segway insurance. Still, with a little work, you can find companies offering Segway insurance quotes online, or directly through their agents.
When getting your Segway insurance quotes, be prepared to provide information including:
- Your insurance history.
- Names and information of any person you want on the policy.
- Information about your Segway.
This information will be used by insurance companies to help determine your Segway insurance rates.
While Segways do have some inherent risk, they are generally considered to be among the lower risk vehicles by insurance companies. Luckily, lower risk means lower premiums.
Additionally, you can get even cheaper Segway insurance rates by taking advantage of discounts. Common discounts from insurance providers may include:
- Multi-policy discount – If you purchase different types of policies with the same insurance company, you may qualify for this discount.
- Multi-vehicle discount – Insurance companies will often offer discounts for insuring more than one vehicle under the same policy.
- Homeowners discount – Owning a home says a lot about your responsibility. In the eyes of insurers, more responsibility means lower risk.
- Insurance companies often offer discounts for homeowners.
Keep in mind that not all insurance providers are the same and not all policies are the same. Speak with your insurance agent to learn more about what you can do to save on your Segway insurance.
Also remember that, as with all types of vehicle insurance, the best way to save money on your premium is by maintaining a good driving record that reflects safe and violation free driving.
Amanda Lautieri Limited Lines Auto Agent