When buying a motorised vehicle like a car or a motorcycle, most if not all countries make it mandatory for the owners of motorised vehicles to purchase insurance coverage which will include third party liability, theft, and accidental damage. For e-scooter riders, with the concept being a relatively emerging one globally, its not too early to explore the possibility of e-scooter riders being insured whether its mandated by law or voluntarily.
[UPDATE: NTUC Income now has a personal mobility guard insurance for all electric scooter riders. Find out more about the escooter insurance here.]
Third Party Liability
Third party liability refers to the costs incurred as a result of any damage caused by the e-scooter rider to a third party’s property or health. This coverage is the most extensive of the lot as the expenses can stretch to more than 5 figures if the affected third party claims his/her medical bills from you OR you happen to damage somebody’s Ferrari. If the police officer determines that you as a scooter rider are at fault, then you are liable to pay for the medical bill of the third party. This liability coverage protects you during situations like that.
In Singapore, there has been many reported cases of theft of scooters despite these scooters being secured by lock and key. A police report is often necessary to make a claim to ensure that it is a valid one. Theft coverage will most likely require you to purchase a hardy lock like a U-lock or Foldylock.
This is different from warranty coverage. Warranty coverage covers manufacturing defects or inherent faults like the one shown in the counterfeit Inokim/MYWAY below. Accidental damage will pay for the damages as a result of an accidental collision usually above a certain deductible amount. Lets say the cost to fix your scooter is SGD 200 and your deductible amount is SGD 100 so you will still have an out of pocket expense of SGD 100 and the insurer will pay for the rest.
To gain further insight into how e-scooter insurance will be accepted by users, we at sgscooters would like YOUR feedback. Tell us what you think by filling out the short survey below. We appreciate your opinion and thank you in advance for taking your time to help out the larger e-scooter community. It only takes 40 seconds to fill it out!