Insurance what a piss take.

[Dudeofrude]

What about the theft element of insurance? If you've got 3 bikes and a car, they could all get stolen.

Well that's where the amount you decided to insure yourself for would come in. If you choose to only have £5000 worth of cover then you'd only get paid out for that amount. If you had 3 bikes and a car then you'd take out something like £20000 coverage.

I'm sure I've read that that do something similar in either America or Australia where you can insure yourself if your willing to put something like £15000 into a bond account?  It's only a 3rd party insurance and in the event of an accident they use your money to pay out the other party?
It's an interesting idea though, if you go all your life without having an at fault accident or a vehicle theft then it never costs you anything. Best of all the money is yours so if you decide to not have a vehicle or want to insure it elsewhere you get all your money back?