Leading auto insurer Progressive Corp. has written the first insurance policy for the much-ballyhooed Segway, known as “IT” before its unveiling last year.
The Mayfield Village, Ohio-based company will offer liability, liability only, and liability/comprehensive insurance packages to Segway owners. The self-balancing, self-powering device goes on sale March 1 for $5,000 only on Amazon.com.
The Segway may be covered by some existing home or auto policies if it is stolen from home, so far only Progressive is offering a policy with all lines of coverage.
Representative quotes on full coverage annual policies (liability, comprehensive and collision) range from $92 in suburban Cleveland to $259 in midtown Manhattan.
The policy is available through local independent agents.
Was this article valuable?
Here are more articles you may enjoy.
DeSantis Signs Citizens Commercial Clearinghouse Bill That’s Been Called ‘Unneeded’ 
‘We’ll Want Some Proof’: State Farm CEO’s Take on NY Auto Insurance Reforms 
Zurich Sees Data Center Boom Spurring Insurance Securitization 
Appetite for Insurance M&A Remains as AI Enters the Chat, Says PwC 
