STOCKHOLM (Reuters) - Tired of parking fines and speeding tickets? A Swedish company offers insurance against both, claiming to be the first in the field.
Swedish drivers who register with the Bisso company at the Web site www.bisso.se and pay an annual fee of 850 crowns ($112) are covered against three speeding tickets a year, as long as they are not more than 30 km an hour (19 miles an hour) above the limit.

For an extra fee, drivers can buy cover against parking fines. Fines in Sweden, which has one of the best road safety records in the world, range from 800 to 2000 crowns for speeding and 425 to 700 crowns for parking offences.

"We believe drivers are under economic pressure and there is no room in household budgets to pay fines. We offer economic protection," said Dan Glimmeras, head of marketing at Bisso.

He told Reuters insuring against speeding fines was not illegal, but repeat offenders could still lose their license.

Several thousand people had signed up for the insurance since May, Glimmeras said.

 

I'd put them out of business if I was a Swede! Problem is not the ticket fees though, it's the vehicle insurance rates!

 

The business strategy doesn't make sense. The cost is 850 crowns a year. The tickets range from 800 to 2000. It seems as though even if you just get one ticket a year, the insurance company stands to lose money.