In the UK insurance is mandatory for vehicles on the roads. The insurance companies that you arrange a policy with are generally rubbish at predicting the future (surprise, surprise) and they're also a bit pants at figuring out when someone is trying to diddle them - so they've been paying out and that along with the global economic situation means they've been paying out a lot. As a result the premium you pay for this insurance has gone through the roof.The cost of fuel and road tax has also become extortionate of late and as we're constantly reminded, we're all becoming victims of the obesity crisis. This in turn has led to a decrease in the use of cars for short journeys and an increase in the use of the bicycle. Of course, if you're in the business of making money out of people insuring their cars against accidents and then they get rid of them, your income will drop. Furthermore if you then realise that these people are then all riding bicycles which are free from insurance, what would you do? You'd release a story into the press.... Try and rattle a few cages... Make the natives restless... Start a new income stream... And so it is that this has appeared:
** Cyclists 'urged to get insurance' **
Not having a comprehensive insurance policy could prove costly, cyclists are warned by the Association of British Insurers. http://www.bbc.co.uk/news/business-15892074 I'm not buying it.. And I won't purchase any either!!
This post originally appeared here: Posterous