fossyant
Ride It Like You Stole It!
- Location
- South Manchester
There seems to be a fundamental mis-understanding what 3rd party liability cover is. It is covering you against any other party claiming against you for loss, personal injury, damage to their property, etc. It does NOT cover any of the aforementioned which belong to YOU, theft or damage to your bike, or injury you have suffered yourself.
I am very clear what I want.
TBH, I've never thought about 3rd party insurance on a bike. They're not motorised.
It would be much the same as "I need 3rd Party insurance because I might tread on someone's toe in Sainsbury's".
Considering the imported "no win no fee" lawyer culture you might find someone could sue you for something like that, some people can be that petty.
Like most insurance you're better off "self insuring" for all but the most disasterous of outcomes.
Do the maths on how much it will cost you in premiums vs how much you'd have to pay out. If the payout sum is somethign you could afford £500 say for some car paint. Then put an equivalent amount of the premium into a saving acc. Even with the rubbish rates thesedays you'll still be better off. Only for large sums like an entire building's contents is it worth paying an insurance company.
TBH, I've never thought about 3rd party insurance on a bike. They're not motorised.
It would be much the same as "I need 3rd Party insurance because I might tread on someone's toe in Sainsbury's".
British cycling are offering half price membership through skyride...Do you have a link to the discount? I can't find it
I doubt very much you could self insure against another party claiming for serious injury, medical and attendance care 24/7 for the rest of their life and loss of a lucrative job or livelihood. It would bankrupt you unless your name was Warren Buffet
And how are you going to cause that while cycling?
Crashing into them? Clipping a pedestrian and knocking them off their feet? Causing them to jump back? Slipping on ice and knocking someone else over?
The cost of the third party insurance is very small, which reflects the chance of such an accident occurring. If it does occur then you will need that insurance. Accidents do happen.
We're not talking about £500 for a new paint job, but in the tens of thousands of pounds to compensate someone for wrecking their life. A claim for stepping on someone's toe in Sainsbury's would be frivolous and ignored, a claim for an old granny being knocked over and fracturing her hip would be perfectly valid, and expensive.