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.
Chubb CEO Greenberg on Personal Insurance Affordability and Data Centers 
Q4 Global Commercial Insurance Rates Drop 4%, in 6th Quarterly Decline: Marsh 
Maine Plane Crash Victims Worked for Luxury Travel Startup Led by Texas Lawyer 
Allstate CEO Wilson Takes on Affordability Issue During Earnings Call 
