If you are going to work any day of the week you will notice the sharp rise in the number of scooters on the road. If you live near or pass by a university campus such as the University of Utah or BYU you may be surrounded by scooters.
Students are trying to save money. Nothing new there, students are always trying to save money. With the high price for gas many students are opting to purchase a scooter to save on gas. You can also save on maintenance as compared to a car. You might be also able to save on parking costs. Where you should not try to save money is on insurance even though it will be much cheaper than car insurance.
If you are in an accident ona scooter chances are you are going to be injured, sometimes seriously injured. The minimum insurance required to be carries on a car is $25,000 in bodily injury coverage. That means that is a minimully insured driver hits you his insurance will pay up to policy limits of $25,000 and then that’s it. If your medical bills alone total $40,000 you are out of luck and left owing the difference of $15,000. One easy and cheap way to guard against this loss is to purchase what is called underinsured (UIM) insurance on your own scooter policy. Take the same accident where you are negligently hit by a minilully insured driver and your medicla bills are $40,000. Their isurance policy would pay their limits of $25,000 and lets assume you have $50,000 od UIM coverage. Chances are high that the UIM policy would also pay to you their policy limits – depending on the injuries, lost wages, pain and suffering. You would receive $75,000 have to pay your bills of $40,000 and be left with $35,000.
Furthermore UIM coverage is cheap
Another way to cover some of your medical costs in case of any accident is to purchase what is referred to as med pay benefits on your scooter insurance coverage. You can purchase thousands of dollars of medical payments coverage for often only cents per thousand. It is a cheap way to get insurance coverage to pay for your medical bills if you do not have medical insurance otherwise.Saving money is on everyone’s minds but if you ride a scooter be sure to carry enough insurance.