Scooter Rental Insurance: Cost & Quotes From $30/mo

 

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. 

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. 

This article aims to explain the components of scooter rental insurance and explore various coverages.

General Liability Insurance for Scooter Rentals 

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  

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  

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  

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. 

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Tools and Equipment Insurance for Scooter Rentals 

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. 

NEXT  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  

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

NEXT 

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 policies 

Cons

  • Couldn’t find any

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The Hartford 

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 month 

Our rating: 10/10

Pros 

  • A renowned company for workers compensation insurance
  • Covers customers with poor business profiles
  • Up to $5 million coverage limit if you file a request 
  • Easy to file your policy online

Cons: 

  • No Hawaii coverage

CoverWallet 

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 month 

Our rating: 10/10

Pros

  • Handy dashboard to track your purchases and claims
  • Lets you comparison shop your policies

Cons

  • Not a provider

Tivly 

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. 

Average cost: $46 per month 

Our rating: 10/10

Pros

  • Over 200 partners to get insurance from
  • Quote process is quick

Cons

  • Doesn’t have a mobile app

Thimble 

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

Hiscox 

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 month 

Our rating: 10/10

Pros 

  • 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

 

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