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Old 10-11-18, 08:26 AM
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Originally Posted by I-Like-To-Bike View Post
I read it and read nothing that indicates that the rate discount is based on actuarial data and the rate discount may be a sales device by a boutique insurance company to help market their policies to cyclists.

Less claims without discussing costs of claims doesn't mean much. Just as likely bicyclists could be getting a discount because they are expected to drive fewer miles.
Because of reduced risks, Chris Knott Insuranceís cyclist-driver policy offers lower premiums than policies aimed at the wider market.
But sure... maybe they just base on the fewer claims aspect...
13% of the firmís insured drivers make at least one claim per year, found Day, but this fell to 6% for cyclists who were insured on the firmís cyclist-driver policy.
Either way, they followed up on it, did a bit of lab testing, and decided to announce their findings... they could have just pocketed their savings as extra profit, and kept their mouths shut.
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