Swedish firm insures against speeding fines

A Swedish company is offering insurance against parking fines and speeding tickets, claiming to be the first in the field.

Swedish drivers who register with the Bisso company and pay an annual fee of 850 crowns ($150) are covered against three speeding tickets a year, as long as they are not more than 30 kilometres per hour above the limit.

For an extra fee, drivers can buy cover against parking fines.

Fines in Sweden, which has one of the best road safety records in the world, range from 800 to 2,000 crowns for speeding and 425 to 700 crowns for parking offences.

"We believe drivers are under economic pressure and there is no room in household budgets to pay fines," Bisso head of marketing Dan Glimmeras said.

"We offer economic protection."

He says insuring against speeding fines is not illegal but repeat offenders could still lose their licence.

Mr Glimmeras says several thousand people have signed up for the insurance since May.

- Reuters

thats a good niche market for the insurance company, but i can see trouble ahead, realising you can speed 3 times a year and get caught with no financial penalty effectivly could make drivers more blase.

Im not sure if Sweeden has a points system similar to our or not, but if not and its simply a fine, i can see fines outweighing the premiums.

What do you think?

at 1st glance it seems quite a bad idea with the speeding side of it.

basically means if you can afford the insurance you get away with driving upto 30kph above the speed limit until u get caught.

what happens if they run someone over or kill someone in a crash? does the ins co stop them getting the speeding fine but the just face charges?

without knowing the the ins and outs of their system like u say its hard to comment fully

I seem to remember a similar story on the radio news here a little while ago about a company offering something like this over here. IIRC it would provide a driver if you were banned ?

Seems like a license to speed really !

I seem to remember a similar story on the radio news here a little while ago about a company offering something like this over here. IIRC it would provide a driver if you were banned ?

Seems like a license to speed really !

As for the parking ticket side, it would be worth the premium alone to park your car in central glasgow for the day on double yellows if someone else will pay for it, trouble ahead methinks :thumbdwn:

Not really sending out the right message, but I wonder if the government will hound them about it as they stand to increase their revenue!

Chris

People tend to speed less in Sweden due to the Licence confiscation issue therefore its less of a risk for the Insurance company.

If you are stopped for speeding your licence is taken off you there & then by the Police officer. You are issued with a temporary licence which allows you to drive for another 48 hours, effectivly giving you time to get home or make alternative arrangements. From then on you are banned until the court case is heard.

If you are on Holiday in Sweden beware as it applies to tourists as well so you have 2 days to leave the country or get someone else to drive the car.

On this years Cannonball we ended up with drivers & co drivers swapping between cars so we could all get out of the country.

The Swedish police we generally very fair but firm & the treatment we recived was no worse than that dished out to the locals (unlike the Spanish Police who are a bunch of currupt lying B******S)

basically means if you can afford the insurance you get away with driving upto 30kph above the speed limit until u get caught.

why? People would still get the points, just not the fine! It would be no different to not having the insurance, you will still lose you licence.

To be fair you still can "get away" with being over the speed limit without the insurance, you still have the same chances of being caught, the only difference is you woldn't have the fine to worry about.