E-Scooter Insurance – Do You Need It?

What are “E-Scooters”?

E-scooters are battery-powered “kick” scooters that can reach speeds exceeding 15 to 20 mph. You are not required to have a driver license to operate e-scooters. They have gained immense popularity across the country in recent years. As e-scooters have become more prevalent, their associated risks and liabilities have created several problems. Hence why e-scooter insurance is gaining popularity.

Do You Need E-Scooter Insurance?

Each state has different rules and regulations regarding e-scooters. That said, it is not required that you have insurance while you operate one. Note that e-scooter companies typically won’t cover you in the event of an accident. In addition, your homeowners insurance usually excludes claims arising out of the use of motor vehicles. And, your personal auto insurance excludes liability coverage for a vehicle with fewer than four wheels. There’s a chance you may be covered under your health insurance policy if you get injured from an accident. Also, some personal umbrella policies may provide coverage as well.

To sum it all up, although you are not required to have e-scooter insurance, it is certainly in your best interest to have some coverage either through personal umbrella insurance or third party coverage provided by the e-scooter company you rented from.

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About Dale Williams

Dale Q. Williams, MBA, is a well-respected financial executive whose experience spans from insurance to investment banking. Dale has first hand underwriting experience through working for one of the largest U.S. based insurance carriers, and advisory experience from working for several bulge-bracket and middle-market investment banks. Dale also received his MBA from University of Chicago Booth School of Business, with concentrations in finance and accounting.