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Both number of motorcyclists and their degree of caution while riding motorcycle is increasing

Statistics of the Road Traffic Safety Directorate show that the number of registered vehicles in Latvia is decreasing each month; for example, the number of registered cars in March of this year declined by more than 23.5 thousand. But the number of registered motorcycles and tricycles is gradually increasing. On March 1 there were 16,786 registered motorcycles and tricycles in Latvia but on the first of April there were already 16,871 motorcycles and tricycles. 8690 of them had valid technical inspection certificate, and 3198 were insured. For comparison: on the first of March 8571 motorcycles and tricycles had valid technical inspection certificate, and 1702 of them were insured. The fact that within one month the number of insured motorcycles and tricycles was nearly doubled can be explained quite simply – the motorcycle season has begun, and the official opening of the motorcycle season of this year took place on April 30.

Just during the last days before the start of the motorcycle season the motorcycle insurance policy sales rapidly increased. Mr. Pēteris Lečmanis, a motor vehicle insurance risk underwriter of "Seesam Latvia", says that in spring it is not necessary to read weather forecasts:

– Motorcycle insurance policy sales increase unmistakably shows that the summer is coming. In the spring of 2010 the first heat wave came about two weeks earlier than this year, so in the last year motorcyclists began to purchase insurance policies earlier.

As per April 1, 810 or 44 % of the 1842 currently valid motorcycle and tricycle MTPL insurance policies were purchased from the Joint Stock Insurance Company “Seesam Latvia”. In 2010, “Seesam Latvia” issued 23 % of all the motorcycle and tricycle insurance policies purchased in the Latvian market – 3719 of 15,868.

– Presently, before April 26, 7173 motorcycle and tricycle insurance contracts have been entered into in Latvia. 2548 or 35.5 % of the policies of this type have been purchased from “Seesam Latvia”, – says Mr. P. Lečmanis. – The biggest number of motorcycle MTPL insurance policies per day – 123 – we issued on Thursday the 26th of April. It can be said that the number of policies sold was directly influenced by the very optimistic weather forecast – a lot of motorcycle owners chose just the warm and nice Easter holidays for their first ride in this season. The fact that many motorcyclists select “Seesam Latvia” to insure their motorcycles may be explained by our company’s carefully considered range of risks to be insured and the premium amounts that make this insurance product attractive to customers. About 30 % of the customers have bought their MTPL insurance policies on the Internet because in this case an additional 10% discount is applied to the purchase.

It should be admitted that motorcyclists each year become more disciplined and cause less traffic accidents – if in 2009 123 traffic accidents caused by motorcyclists were reported to insurers in total, in 2010 the motorcycle-related traffic accident statistics decreased by 7.3%, and insurers were notified about 114 motorcycle-related traffic accidents. Approximately 70% of accidents where a motorcycle is involved is a collision with a car. In 2009, the average insurance indemnity paid out in connection with a motorcycle involved in an accident amounted to LVL 642 lats, but in 2010 – LVL 452, which is by about 29.7% less, so that it can be said that accidents in which a motorcycle is involved, become less serious. This is reflected also in absolute terms. In 2009, the largest insurance indemnity paid for an accident, in which a motorcycle was involved, was LVL 7070, while in 2010 the largest insurance indemnity paid for an accident, in which a motorcycle was involved, was LVL 2701. The statistics of both the years show that 19% of indemnities exceeded LVL 700. In the recent time, there is a growing number of insurance indemnities, the amount of which varies from LVL 100 to 400. The number of indemnities, the amount of which exceeds LVL 700, is slightly reduced.

Most traffic accidents have been caused by motorcyclists less than 30 years old. According to statistics, motorcyclists aged 18 to 22 years have a greater risk to get into an accident – persons of this age group cause an accident or get into accidents almost three times more often than 31 to 35 years old riders, and approximately five times more often than 36 to 45 years old riders. This statistic is associated with the small driving experience of young road users, recklessness, and inappropriate choice of speed.

An average motorcycle owner is 31 years old.

80% of all road traffic accidents caused by motorcyclists have taken place in Riga and Riga region.

More than one half-part of motorcycle owners usually purchase a MTPL policy for three months, which is the minimum period for which one can conclude a motor transport third-part liability insurance contract. The owners of motorcycles in most cases choose this shortest possible period of insurance because of an impulsive choice rather than on the basis of a rationally considered decision. The experience of insurers shows that these drivers often have to buy another insurance policy for three months at the end of the summer. Just due to this "Seesam Latvia" invites motorcyclists to enter into a MTPL contract for six or nine months at the beginning of the season at a better price.

44 % of all the motorcycle MTPL policies are purchased in April, at the beginning of the motorcycle season.

Additional information:

Vienības gatve 87H, Riga, LV-1004, Latvia

Tel. No. +371 67 06 10 29

Fax No. +371 67 06 10 22

dace.gertnere(a)seesam.lv

http://www.seesam.lv