Insurance company Progressive has announced the availability of the first-ever insurance policy for owners of Segway Human Transporters (HTs), the self-balancing transportation devices that begin shipping to consumers on March 1. While coverage from some existing homeowners or auto policies may cover Segway HT owners, providing coverage if the device is stolen from home, for example, Progressive says no other insurance company is offering a policy with all lines of coverage.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
The Segway HTs are proving controversial with some municipal authorities in the US banning them from pedestrian areas on safety grounds.
Segway HT owners have a choice of three insurance packages from Progressive: full coverage; liability only; or liability and comprehensive.
However, insurance for the Segway HT device is not mandatory.
Drew Ladau, vice president and general manager, US Business, Segway LLC said: “While the Segway HT is engineered for safety and specially encrypted to reduce theft, it is important that Segway customers have access to products and services that complement and support their purchase. We are pleased Progressive anticipated a need and answered it.”
The cost of a Segway HT policy from Progressive varies depending upon the package, limits and deductibles selected by the owner as well as where the owner lives and other factors. Representative quotes on full coverage annual policies (liability, comprehensive and collision) range from $92 in suburban Cleveland to $259 in mid-town Manhattan.
