Scooter Insurance
**This article was written as at June 2008 and was based on information given by an authorized ICBC insurance agent in Victoria, BC.
For most of the scooters we sell at Scooter Underground, our customers will incur insurance premiums ranging from $250 to $450 on average per year depending on the factors listed below:
The main variables in scooter insurance are:
- The engine size of your scooter in cubic centimeters (CC’s)
- The amount of third party liability insurance carried ($1 million is common, more is better)
- Do you want “own damage” coverages (Collision and Comprehensive)
- The declared value of your scooter
- The size of the deductible ($500 is common)
EXAMPLE :
Declared value of scooter: $3000
Liability Coverage: $1million
Collision and Comprehensive with $500 deductible
Annual premium: $410 including all registration and plate fees. (Victoria resident)
To give an idea of how the declared value of the scooter affects the premium:
$371 for a $2,000 scooter
$410 for a $3,000 scooter
$442 for a $4,000 scooter
- These premiums have "full coverage"
- "own damage" is the most expensive portion of the insurance “own damage” means both collision and comprehensive coverage (comprehensive meaning fire, theft, vandalism, etc.
- If a client declined those coverages, the premium would drop by about $150 - $200 dollars and still give them coverage to be "legal" for the road
- The CC categories are as follows : (same for motorcycles)
- 0-110cc
- 111-400cc
- 401-750cc
- 751-1150cc
- 1150cc and over
Most of the scooters we sell fall into the first 2 categories.
*Note: There are no discounts on insurance for scooters - everybody starts at the same level regardless of driving history. That can be good news or bad news – no safe driving discount but also no penalties if you do not have a good clear driving record.
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