8/11/2005Swedish Company Offers Speeding Ticket Insurance
Motorists in Sweden can now buy insurance covering both speeding and parking offenses.
Bisso is offering an 850 kroner (US $113) insurance policy against speeding tickets to motorists in Sweden. Those who take advantage of the policy will be covered against the cost of up to three fines a year as long as they are for doing less than 19 MPH over the speed limit. The insurance, however, only covers the cost of the ticket and does not protect against license suspensions. Swedish speeding fines run between 800 and 2000 kroner (US $106-$267). An optional extension adds coverage against the country's 425 to 700 kroner (US $56-$93) parking tickets.
Parking tickets have become a booming industry in Scandinavian countries. In Copenhagen, Denmark, for example, the number of tickets issued has jumped from 180,000 in 1999 to over 300,000 last year, generating 120 million kroner in revenue.
"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."Source: Swedish firm insures against speeding fines (Reuters, 8/11/2005)
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