James Wightman, Birkirkara
Insurance for bicycles used by car drivers
It has been said that many cyclists who commute (and use their bicycles recreationally) are also motorists who leave their cars at home. This helps to alleviate traffic, parking congestion, not to mention making a significant dent in pollution and ultimately improve public health. In short, leaving the car or motorcycle at home and using a bicycle benefits everyone.
Given the above, insurance companies could be encouraged to extend the normal car or motorcycle cover to include the driver's bicycle. This results in a win-win situation. Hey presto, the motorist/motorcyclist turned cyclist is insured for free and by leaving the car at home there is significantly less risk to third parties resulting in lower claims. The insurance companies also stand to gain as the insured motor vehicle is parked or garaged, ergo zero third party risk.
Considering the thorny issue of insurance for bicycles, this may offer a partial solution that will benefit car drivers, cyclists and insurers alike. I do not know of any similar scheme in Europe, so it could be a first for Malta and a chance to lead the way.
8 Comments
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James Wightman
Nov 5th 2009, 00:24
OK David, so given that some people won't have access to home insurance teenagers, migrants etc... do you (insurers) offer insurance specifically for bicycles only? Unfortunately my experience of trying to get 'odd' risk cover has been less than successful. Try insuring a canoe for 3rdparty liability or getting motorcycle fully comp/no claims bonus?
My letter was simply a way of the insurers being able to offer this at no cost/reduced risk.
David Stephen Ganado
Nov 4th 2009, 16:43
Its incredible how negative you all are about the local insurance industry! Over the last few years most local Companies/Agencies have come up with a number of innovative covers, usually as an expention on the more traditional covers. it is just a matter of asking what is available!
After having spent 16 years working in the industry i can definately say that the average customer is not interested in the cover he/she has but only in the cost. Many home policies already have extensions to cover bicycles, including the liability element of this risk.
Ask and you will find out!!!
George Debono
Nov 4th 2009, 16:01
Excellent Craig!
A good idea.
I understand that membership with the various existing cycling associations in Malta has the benefit of insurance. A new cycle association (CycleSafeMalta) for the leisure/commuting cyclist (as opposed to the sports cyclist) is soon to be formed and it would be a good idea to incorporate this.
I lived in Switzerland for 10 years - in this country each bicycle must carry a metal insurance disc. I never discovered how much cover it provided. It used to cost 2 Swiss Franks/year.
In 60 years of cycling the only time I may have needed (third party) insurance was when my parked bicycle fell against a car and scratched it!
I agree with other bloggers that neither our half-asleep Govt or our Insurance Companies will be interested - bicycles are not Big Money.
Bur we have to keep beavering away and we may eventually succeed in getting more people on bikes.
G
James Wightman
Nov 4th 2009, 15:34
Well I've been coaching sports in Malta for 20 years so I'm under no illusions about the obesity problem, actually its a sedentary problem - if they exercised they would not be obese.
So its a circular argument.
But! Its evolution and morbidly obese people will die early, fit people will live longer - thats simple fact - they can of course choose to get active but it will take another two generations.
Adrian Borg
Nov 4th 2009, 12:38
The thing is that this will have very low success with the Maltese. An obese population who if they could would buy a machine to sit on and walk for them. Especially the women, if it was for them, you'd just drive them straight into and park in the shop they need!
James Wightman
Nov 4th 2009, 11:33
Thank you, well part of my job is risk management as a profit centre from a safety perspective. All I can do is make the suggestion. You can lead a horse to water, can't make him drink. As I said the benefit to the insurance company is lower risk of the car being damaged, actually its zero, therefore insurance company would have less to payout insurance company makes more profit by incurring less loss.
Albert Bezzina
Nov 4th 2009, 10:38
Very good idea Mr Wightman. However unless such an initiative is backed by parliament notices no local insurance company is going to bother. What's in it for them anyway, since there is no hard statistical evidance that giving such cover is lucrative to them, nothing will be done unless authorities push for it.
TRW O'Neill
Nov 4th 2009, 09:29
A Very sensibile suggestion James. sadly too sensible for any Maltese run Insurance Co.They will see no profits in it, even though there will be.The obvious is not welcomed in Malta.QED.