Insuring a moped will cost from €7 per season

Insuring mopeds becomes mandatory from 1 July and BTA Kindlustus is the first insurance company to publish the prices of its insurance policies. Mandatory moped insurance in BTA will cost the policyholder €12-25, depending on the personal risk level of the driver.

“We analysed the potential profiles of moped riders and believe that over 50% of the policyholders will be young people aged 16 to 20, who don’t have much experience in riding a moped,” explained the manager of the Estonian branch of BTA Insurance Olavi Laido. “Our experience shows that 40% of them cause a small accident in the first year, which generally doesn’t caused much damage to the third party, but do create problems for the riders.”

Olavi Laido adds that the second big group of policyholders according to BTA’s forecast are men over the age of 45 who live outside cities. This group may comprise 20-30% of the total number of policyholders. These people use a moped as the main vehicle both at work and during their time off. “These people are not likely to cause be involved in accidents and their risks are lower, as they have generally been driving a motor vehicle for decades and prefer a slow ride to hot-headed speeding,” noted Laido.

The risk levels of insuring mopeds are divided into different groups in BTA and they distinguish between the rider’s age and especially their traffic history as well as people who ride their mopeds in cities. The busier the traffic where the person rides and the younger the rider, the higher the risk that they will cause an accident and also cause damage to third parties, which means that insurance premiums in this group are higher.

Mopeds are insured for six months

BTA’s advice is to insure mopeds seasonally, e.g. for six months at a time, as it keeps the premiums low.For example, the price for middle-aged riders, whose risk coefficient may already be the lowest, ranges from €7 to €12 for six months, depending on the region. However, for the riskiest group, the price for the same period is over €50.

“We reckon that mopeds are usually brought out in April and put away for the winter again in October, which means that most people would not want to insure them for a year,” said Laido.