Latvia will require mandatory insurance for self-propelled bicycles, beginning this summer, according to Jānis Abāšins, president of the Latvian Insurers’ Association (LAA). The bicycles must first be registered with the Road Traffic Safety Directorate (CSDD), mirroring the existing requirements for electric scooters, which have been subject to mandatory insurance for the past year.
Abāšins explained that the annual insurance policy for these self-propelled bicycles will be priced similarly to those for electric scooters. He estimated the cost to be around 20, 30, or 40 euros per year, characterizing these amounts as “not mega sums.”
Data regarding electric scooters, which have been mandated to carry insurance since July of last year, reveals a concerning trend. Abāšins stated that of the 24 or 25 accidents involving electric scooters in the first six to seven months of the requirement, 6 or 7 occurred without insurance. The average claim payout in these incidents is 1500 euros, with the largest reaching 5500 euros.
In contrast, the rate of uninsured incidents among traditional vehicles – cars, motorcycles, and tractors – which have long been required to carry OCTA insurance, is approximately 1%. This compares sharply with the 20-25% rate observed among electric scooters, a figure Abāšins described as “exceptionally high.”
Abāšins emphasized the need for continued public education regarding the necessity of insurance for electric scooters and, now, self-propelled bicycles. He outlined two potential consequences for operating without insurance: a fine levied by the state following an accident, and potential financial responsibility for claim payouts through the OCTA guarantee fund. “They will have to pay, for example, 5500 or 2000 euros, which is not a cheap undertaking,” Abāšins warned. “It is probably cheaper to buy OCTA for a year for 20, 25 or 30 euros and get this protection for yourself, because essentially it is protection for yourself if you harm someone.”
Jānis Abāšins was re-elected as president of the Latvian Insurers’ Association on June 19th of this year, for a three-year term, demonstrating continued confidence in his leadership within the industry.
