Scooters are as good as bikes when touring cities or holiday spots. According to Statista, the e-scooter-sharing market is expected to reach 134 million users by 2027.Â
If you run a scooter rental business, then having scooter rental business insurance will come in handy. You will want to maintain an insurance policy that can adequately protect your business from liability costs.Â
This article aims to explain the components of scooter rental insurance and explore various coverages.
General Liability Insurance for Scooter RentalsÂ
General liability coverage adds third-party injury or property damage protection to your scooter or e scooter rental insurance. Some examples of when to use this coverage include:
- A member of the public wanders onto your business property and trips, causing injury to themselves
- A scooter causes a pedestrian to get a broken bone due to a collision that is determined to be your company’s fault
General liability will have a $1 million per occurrence limit and a $2 million aggregate limit.
CoverWallet | NEXT (Best) | Thimble | Hiscox | The Hartford | |
Per occurrence limit | $1,000,000 | $1,000,000 | $1,000,000/$2,000,000 | $300,000/$1,000,000 | $1,000,000/$2,000,000 |
Aggregate limit | $2,000,000 | $1,000,000/$2,000,000 | $1,000,000/$2,000,000 | $300,000/$2,000,000 | $1,000,000/$2,000,000 |
Products and completed operations aggregate limit | $2,000,000 | $1,000,000 | $1,000,000 | $1,000,000 | $1,000,000 |
Advertising injury coverage aggregate limit | $1,000,000 | $1,000,000 | $1,000,000 | $1,000,000 | $1,000,000 |
Tenant’s legal liability coverage limit | $100,000 | $100,000 | $5,000 | $100,000 | $1,000,000 |
Waiver of subrogation included? | Yes | No | Included | Can be included | No |
Hired/non-owned auto liability coverage included? | Yes | No | Excluded | Can be included | Can be included |
Equipment breakdown floater included? | No | Yes | Yes | Can be included | Can be included |
Public Liability Insurance for Scooter Rentals Â
Public liability offers similar coverage to general liability but is limited to claims from the general public. It provides coverage for risks that happen to the public in connection with your business. Some examples of when to use this policy include:
- One of your scooters causes a pedestrian to trip over it, injuring their back and requiring medical treatment
- A visitor to your commercial property claims to have lost their personal property at your business
Public liability coverage generally has a $1 million per occurrence and an aggregate limit of $2 million.
Product Liability Insurance for Scooter Rentals Â
Product liability insurance can be a critical component of your scooter hire insurance because it provides protection against claims resulting from the manufacture, design, or marketing of your scooters. Examples include:
- A manufacturing defect in your scooter causes a customer to crash and injure himself
- You receive a lawsuit for a scooter design flaw and need to defend your business legally
A standard product liability protection covers $1 million per occurrence and $2 million in aggregate coverage.
Commercial Property Insurance for Scooter Rentals
Commercial property insurance protects your commercial and business property when it gets damaged or needs replaced. Some examples include:
- Your scooter rental commercial property gets damaged by a lightning and needs repairs.
- A thief steals one of your scooters from your commercial property
Commercial property insurance often has a limit of $60,000 for businesses. However, the actual value of your property will determine how much coverage you can get for it.
CoverWallet | NEXT (Best) | Thimble | The Hartford | Hiscox | |
Building coverage limit (minimum) | $50,000 | $340,000 | $25,000/$500,000 | $35,000 | $25,000 |
Contents coverage limit (minimum) | $50,000 | $35,000 | $25,000/$500,000 | $35,000 | $15,000 |
Outdoor signs | Excluded | $2,500 | Excluded | Excluded | Included |
Accounts receivable | Excluded | Excluded | $5,000/$10,000 | Excluded | Included |
Money and securities | Excluded | $2,500 | $1,000 | Excluded | Included |
Lock and keys | Excluded | $2,500 | Excluded | Excluded | Included |
Business interruption floater | Excluded | Included | Included | Excluded | Included |
Equipment breakdown floater | Excluded | Included | Excluded | Excluded | Included |
Inland marine insurance floater | Excluded | Excluded | $10,000 | Excluded | Excluded |
Employee dishonesty floater | Excluded | $5,000 | $2,500 | Excluded | Excluded |
Business Owner’s Policy for Scooter Rentals Â
Business owner’s policy combines general liability and commercial property, which you can then add on more coverage if necessary. Situations to use this insurance include:
- Your company gets accused of libel, and you must defend yourself in court
- Your business property is defaced by vandalism and needs to be repaired
Business owners’ policy coverage has a typically aggregate limit of $1 million for liability coverage and $25,000-$50,000 for property coverage.Â
Get all the best quotes from leading providers in a click of a button!
Tools and Equipment Insurance for Scooter RentalsÂ
Tools and equipment insurance provides protection for your business tools or equipment even when they are not on your commercial business property. Examples include:
- Tools that you use to maintain your scooters get stolen and need to be replaced
- A lightning causes some scooter equipment to need repairs to get back into working order
A typical coverage limit for tools and equipment policy is $10,000 per scheduled item on the policy.Â
NEXTÂ | Thimble | Hiscox | The Hartford | |
Aggregate limit | $3,000/$10,000 | $2,500/$5,000 | $15,000/$25,000 | $5,000-$10,000 |
Covers hired and borrowed equipment? | $3,000/$10,000 | $2,500/$5,000 | No | Yes |
Miscellaneous equipment also covered? | $5,000/$10,000 | No | Yes | Yes |
Offered as an endorsement to general liability insurance? | Yes | Yes | Yes | Yes |
Deductible | $500 | $500 | $0 | $0 |
Workers Compensation Insurance for Scooter Rentals Â
Workers’ compensation insurance is a policy that offers benefits to your employees when they get injured or ill while on the job.
 You use workers compensation insurance to provide benefits for hospitalization, medication, rehabilitation, lost wages, and death. Coverage examples of this insurance are listed below.
- An employee is maintaining the scooters when they hurt their back while bent over
- A scooter malfunctions and causes an employee to fall and break their leg
Scooter Rental Business Insurance Cost
The average scooter rental insurance cost is $52 per month or $624 per year for a $1 million general liability coverage. Factors that affect the cost of premiums are location, deductibles, policy limits, revenues, claims history, and business history.
Cost per Month | Cost per Year | Deductible | |
General liability insurance | $52 | $624 | $0-$500 |
Commercial property insurance | $100 | $1,200 | $1,000-$2,000 |
Business owner’s policy | $152 | $1,824 | $1,500 |
Tools and equipment insurance | $55 | $660 | $500-$1,000 |
Workers compensation insurance | $113 | $1,356 | $500-$1,000 |
Best Scooter Rental Insurance Companies
NEXTÂ
NEXT has a range of different policy options for scooter rental insurance.They are experienced in over 1,300 professions and have a strong A- financial ranking from AM Best.
Average cost: $30 per month
Our rating: 10/10
Pros
- Best overall
- Issues an online proof of insurance instantly
- Great customer service and reputation
- Excellent rates
- Outstanding value for money
- Get a 10% discount if you buy two or more policiesÂ
Cons
- Couldn’t find any
The HartfordÂ
The Hartford has over 200 years of experience in the insurance industry and an A+ rating with the Better Business Bureau. The company writes $11 billion in premiums every year.
Average cost: $44 per monthÂ
Our rating: 10/10
ProsÂ
- A renowned company for workers compensation insurance
- Covers customers with poor business profiles
- Up to $5 million coverage limit if you file a requestÂ
- Easy to file your policy online
Cons:Â
- No Hawaii coverage
CoverWalletÂ
CoverWallet covers 48 states and maintains an A+ rating from the BBB. The company is notable for its digital marketplace exchange that makes comparison shopping easier.
Average cost: $35 per monthÂ
Our rating: 10/10
Pros
- Handy dashboard to track your purchases and claims
- Lets you comparison shop your policies
Cons
- Not a provider
TivlyÂ
It is a tech-based insurance platform with a selection of over 200 partners for you to compare options from.. Tivly has 20 years of experience in the industry and an A rating from the BBB.Â
Average cost: $46 per monthÂ
Our rating: 10/10
Pros
- Over 200 partners to get insurance from
- Quote process is quick
Cons
- Doesn’t have a mobile app
ThimbleÂ
Thimble is a company that covers a wide range of different professionals that focuses on people that want their policy quickly. They have all of the policies a scooter rental company will want. In addition, thimble’s app received a highlight from Forbes magazine.
Average cost: $48 per month
Our rating: 10/10
Pros
- Easy to use insurance app
- Lots of first-time customers
Cons
- Limited customer support options
HiscoxÂ
Hiscox has an A rating with Am Best and over 100 years of experience in the insurance industry. The company employs specialists that get back to you within one day of you filing for a policy.
Average cost: $36 per monthÂ
Our rating: 10/10
ProsÂ
- Tailored policies for small businesses
- Can get a discount when you bundle multiple Hiscox policies
Cons
- Some policies require talking to an agent to make changes