Does Motorcycle Insurance Include Mopeds?

Mopeds are becoming more popular due to their low cost and gas savings. If you drive a moped, you may or may not be required to insure it. Currently, only 24 of the 50 states require mopeds being driven on the road to have insurance. However, even if your state does not require it, it is always wise to invest in insurance to protect yourself if there is an accident or your moped is stolen. One of the questions that we at Pizano Insurance, serving the greater Wayzata, MN area are asked, is whether a moped can be insured using motorcycle insurance. Here is some information for you regarding this question. 

There is not separate moped insurance policies that are sold. As such, most mopeds can be insured under a motorcycle insurance policy. If your moped has an engine that is 50 cc or larger or the bike goes over 30 miles per hour, it is considered by most states to be a motorcycle rather than a moped and needs to be insured under a motorcycle insurance policy. In most states, liability insurance is required for motorcycles. 

In addition to needing the insurance to be on the road if the engine has certain speeds, many lenders require you to carry motorcycle insurance on a moped even if the state you live in does not require it. This helps to protect their financial interest in the moped until the loan is paid off. 

If you are looking to insure a moped or a motorcycle in the greater Wayzata, MN area, Pizaono Insurance would love to help. Call us today to discuss your needs with one of our friendly agents and receive a free motorcycle insurance quote.

Umbrella Insurance: A Must for Newlyweds

Marriage is bound to bring many changes to your life as you take steps to combine households with your significant other. In addition to setting up a new home in Wayzata, MN, you should take time to reassess your insurance needs. At Pizano Insurance, we can help you determine insurance coverage that’s best suited to your new situation. As newlyweds, you may be very interested in what umbrella liability insurance has to offer.   

Protection of Valuable Assets

Marriage often increases a couple’s assets, providing them with additional savings, income, real estate property, and goods. Umbrella insurance provides extra liability coverage to protect these assets against lawsuits if you’re held liable for an accident at home or on the road.

A serious accident could cause injuries that surpass the liability limits of your home or car insurance policies. If you’re sued for additional costs, you could suffer financial ruin just when your married life is getting started. Umbrella insurance can provide you with an additional $1 million or more in liability coverage to protect your valuable assets in this new phase of your life.

Protection of Lifestyle

With umbrella insurance, you can have greater peace of mind to pursue the lifestyle you desire. Certain lifestyles and amenities such as a pool, boat or sports car increase the risk of being sued in the event of an accident. With umbrella coverage, you and your spouse can enjoy married life to the full without worrying about what may or may not happen as a result of your lifestyle.

At Pizano Insurance, Wayzata, MN, we can help you personalize your home, auto and umbrella coverage to suit your individual needs. Obtaining adequate insurance protection is one of the most important decisions you’ll make as newlyweds in establishing your financial future.