Cyclist Insurance

[classic33]

cyclist ordered to pay a fellow cyclist $1.7 million

"Velosure, which offers specialised liability policies for cyclists, has noted a marked increase in interest around its cover thanks to a court ruling in Canberra last week.

The ruling saw one cyclist ordered to pay a fellow cyclist $1.7 million in a damages payout due to negligence over a crash in 2009. The accident saw one cyclist hit a wooden stake and swerve into the path of a fellow cyclist, knocking him off his bike and into traffic – he was hit by a car and suffered severe damage to his spine and pelvis."

 

[srw]

$60 (Australian) is about £33. Basic adult membership price for CTC is £41.50, and that includes the same insurance cover, as well as all the other benefits. Cheaper options are available.

 

[classic33]

It was the one event sparking an increase in those seeking insurance, that had me posting it.

 

[Beebo]

As pointed out the premiums are so cheap that it is silly not to be insured. I'm insured with CTC, but if I wasnt and a Court ordered me to pay £1.7 milllion the solution would be fairly simple, I wouldnt pay.
The point being that they cant make you pay if you havent got the money.

 

[srw]

As pointed out the premiums are so cheap that it is silly not to be insured. I'm insured with CTC, but if I wasnt and a Court ordered me to pay £1.7 milllion the solution would be fairly simple, I wouldnt pay.
The point being that they cant make you pay if you havent got the money.

No - but they can seize any assets you've got...

 

[Cuchilo]

You cant pay £1 a month on 1.7 million

 

[Beebo]

No - but they can seize any assets you've got...

I know, but the headline figure is silly because in 99.9% of cases they will never get 1.7 million back.
How many uninsured drivers end up being men of straw when you drag them through court? I bet its more than 80%.
i only have one big asset, my house, which has a 65% mortgage. I have a wife and two kids, it is there only home, so they cant take the other 35% away either. And even then you are only looking at 10% of the damages.
But we all know the simple answer is get insured, its only £30 per annum!

 

[deptfordmarmoset]

Should have got Osborne onto the case. It would only have been $850 million.

 

[Cuchilo]

I know, but the headline figure is silly because in 99.9% of cases they will never get 1.7 million back.
How many uninsured drivers end up being men of straw when you drag them through court? I bet its more than 80%.
i only have one big asset, my house, which has a 65% mortgage. I have a wife and two kids, it is there only home, so they cant take the other 35% away either. And even then you are only looking at 10% of the damages.
But we all know the simple answer is get insured, its only £30 per annum!

A court order can take anything away they want unless you plead a case in court .

 

[Drago]

It's a good thing the only things I own are my bikes and a knackered old pickup truck.

 

[srw]

I know, but the headline figure is silly because in 99.9% of cases they will never get 1.7 million back.
How many uninsured drivers end up being men of straw when you drag them through court? I bet its more than 80%.

People hit by uninsured drivers are protected by the Motor Insurance Bureau, and will receive 100% of any injury payout that way. As the name suggests, it doesn't cover non-motor liability cases. If the courts were so minded, they'd cheerfully chuck you out on the street to pay a debt.