When we turn 16, a gateway opens for us to start our two-wheeled journey, it is an exciting time, and freedom is just around the corner.
There are just a few things you need to sort out before getting on the road; as dull as it might be, obtaining insurance is one of those things.
The problem is that getting insurance as a 16-year-old for a moped is a bit of a minefield, with many factors affecting the price you will pay.
Prices for moped insurance for a 16-year-old start on average from £375 to over £3,000.
We have gathered as much information as possible about the factors that affect the insurance price and some example quotes to give you an idea of what you might end up paying.
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Factors that affect the price of insurance
Before we get into some specific examples, let’s look at the main factors that will affect what you pay for your moped insurance.
It is important to note that these factors play a role individually and collectively in increasing or reducing your insurance premiums.
Your location might reduce your premium in theory but then where your store your moped could increase it again, so insurers look at the whole picture, not just one factor.
Location
Where you are located in the country will affect your insurance premiums.
If you live in the centre of London, you will pay more for your insurance than somebody who lives in the suburbs of Kent.
Insurance companies know that if you live in an urban area which is densely populated, there is more traffic, so there is a higher risk of an accident on the road.
These areas usually have higher crime rates, too, so there is an increased risk of theft.
As a result, insurance premiums increase.
Comparatively, your insurance premiums will decrease if you live in a rural area with little traffic and low crime rates.
Where the moped is stored
Where you store your moped when you are at home is one of the most important factors and can significantly affect your premiums.
If you keep your moped in a locked garage overnight, your insurance will be lower as the moped is deemed less likely to be stolen.
If you keep your moped on the street overnight, your insurance will increase significantly.
Storing your moped on a driveway instead of the street will also cause a variation in the insurance premium you pay.
Security measures taken
Another important factor in determining the cost of your moped insurance is what safety measures you take to secure your moped.
When running through the process of taking out insurance, you will often be asked what locks and alarms you are using on your moped.
It is always best to go for a Thatcham-approved device, whether it is a disc lock, security chain or another anti-theft device.
The Thatcham seal of approval is recognised by many insurers and will help reduce your premiums if you declare that you are using one.
Other marks of approval include Sold Secure and Classe SRA.
Your insurer may request to see proof of purchase for the security device before applying any discount to your premiums, so make sure you keep your receipt!
Make and model of moped
The make and model of the moped will affect your insurance premiums.
If you have a top of the line Vespa Primavera, it will hold its value over time and therefore cost more to insure. Whereas something like a Lexmoto Echo 50 is far cheaper and therefore should be more affordable to insure.
There are some variations with this factor, most commonly being tied in with your location and how desirable the particular moped is in certain areas.
For example, there might be high theft rates for a Peugeot Speedfight 4 in a city which will increase the insurance in that area.
Check out this article to see the cheapest motorcycles to insure.
Usage and Mileage
Insurance companies will ask whether you are using the moped for social, domestic and pleasure purposes or if you will also be commuting on the bike.
If you are commuting, the chances are your insurance premiums will increase as they see that you regularly ride in heavy traffic at peak times, which increases the risk of an accident.
Also, the more miles you do, the higher the chance of an accident on the road, so insurers rack up your premiums once again.
Other Factors
- Whether you are insuring a new or used moped will impact the price you pay. New mopeds tend to cost more to insure, whereas older used models should be cheaper.
- Insuring your moped on a comprehensive basis will cost more than just insuring it third party, fire and theft.
- Increasing your voluntary excess will likely reduce the total premium that you pay.
- Adding on Helmet and Leather protection, Breakdown Cover etc., as part of your insurance will increase your premiums. It might be a good idea to check out quotes for these extras separately as you may be able to get them cheaper individually.
Example Quotes
We have run some insurance quotes to get an idea of prices using our motorcycle insurance comparison site.
The factors that remain consistent throughout the examples are the following:
- Quote is based on a new 16-year-old rider with a newly acquired licence
- £100 Voluntary Excess
- One Annual Payment
- Comprehensive Insurance
- No Extras such as Breakdown Cover are included in the quotes
- Rural location is based in Ledbury, Herefordshire and Urban Location is central Birmingham City Centre.
Note: these quotes were accurate on the day of publication and are subject to change.
New Lexmoto Echo 50, 2022 Model, Cost £1,749.99
Quote 1
Key Factors
- No Security Device
- Stored: Garage
- Usage: Social, Domestic, Pleasure Only
- Miles per Annum: 3,000 Miles
- Student in full/part-time education
Cheapest Quote: £375.60
Urban City Location: £1,129.95
Quote 2
Key Factors
- Security: Oxford Hardcore XL Chain and Padlock
- Stored: Public Road
- Usage: Social, Domestic, Pleasure Only
- Miles per Annum: 3,000 Miles
- Student in full/part-time education
Cheapest Quote: £550.02
Urban City Location: £1,635.31
Quote 3
Key Factors
As above with the following two changes:
- Usage: Social, Domestic, Pleasure and Commuting
- Employed
Cheapest Quote: £582.45
Urban City Location: £1,605.31
New Aprilia SXR 50, 2022 Model, Cost £2,400
Quote 1
Key Factors
- No Security Device
- Stored: Garage
- Usage: Social, Domestic, Pleasure Only
- Miles per Annum: 3,000 Miles
- Student in full/part-time education
Cheapest Quote: £391.48
Urban City Location: £2,083.06
Quote 2
Key Factors
- Security: Oxford Hardcore XL Chain and Padlock
- Stored: Public Road
- Usage: Social, Domestic, Pleasure Only
- Miles per Annum: 3,000 Miles
- Student in full/part-time education
Cheapest Quote: £562.27
Urban City Location: £2,083.06
Quote 3
Key Factors
As above with the following two changes:
- Usage: Social, Domestic, Pleasure and Commuting
- Employed
Cheapest Quote: £595.08
Urban City Location: £2,083.06
Summary
As you can see, quotes vary wildly depending on the rider’s address, followed by whether it is stored in a garage or on a public road.
The two locations used are pretty extreme in terms of being opposite to each other but offer a good insight into the difference your location makes when getting insurance.
I ran the same quotes for used models from 2018; this reduced the premiums but not significantly,
Check out the motorcycle insurance comparison section on the website and play around with the settings to get the best quote; it is very easy to go back and change the various settings and re-run the quote.