I'm a cyclist.

[jcassidy]

I have a 7k bike, mind you I got it for a few hundred euro off my brother who couldn't be bothered trying to sell it. Buying stupidly expensive things and then either abandoning or flogging them for pennies is very much his style since we were kids. I have First dibs on his Rolex Submariner!

I've taught both my daughters to hog the road if there is no bike path. Too many friends have been driven into footpaths and ditches by drivers squeezing them off the road. Screw the drivers they can wait for a minute or two.

High vis jackets, helmets, lights, and big hand signals are also de rigour. And also to assume every driver is a f%%king *****, because so many, in fact, are.

 

[Jameshow]

Are there really £10K bikes - I'm sure there will be but why? how? who? wish I had a car worth that. I used to work for Aston Martin and I'm still shocked at the £10K bike - it's clearly my problem.

Yeap £10k will buy to a pro bike just, the bigger teams / posher brands will be more.

Unless your at that level a £1-2k planet X, boardman or Ribble will do much the same.

90% legs 10% bike!

 

[TRITON]

Unless your at that level a £1-2k planet X, boardman or Ribble will do much the same.

I thought the gig with road or mtb was you dont have to ride like a pro, if you look like a pro

 

[Jacob]

My one extravagance was SpaTitanium Audax at £1500. Won't win me the TdeF (well nothing would unless I could secrete rockets about my person) but very nice to ride.
Prior to that* was Dawes Galaxy Tour about £500. Excellent bike - took from LE to JoG, several cross Europe trips, Mont Ventoux, over the Pyrenees, N sea cycle route, Southern Ireland circuit, Hebrides, most of N france coast, several small island tours.
Cheap holidays! I understand why the poor old gammons find this annoying - thousands out there, all ages and abilities, enjoying themselves at very little cost, not even insured!
*PS prior to that was a 2nd hand Mercian Superlight, £25, (and was about 25 years old) which took me around Crete, and up and over!

 

[Ozi]

I did close to 50K miles on a Rally Magnum that cost £125 when I was 15 and that I threw in the tip about 4 years ago - mind you £125 when I was 15 would have got you drunk bought a bag of chips after and a home to go to, kids today............On a serious note what would £125 in 1979 be worth now

Mine cost £7000 seven years ago and was the bike I had wanted for many years. I received a bonus from work which paid for it and it was a major reward to myself for losing a lot of weight (35kg) and getting fitter. I will never replace it. It hangs on the wall in my office when I am not riding it. It is an absolute joy to ride and I never fail to get a big grin when I push the pedals for the first time on a ride. The experience of riding a super light weight road bike compared to the typical high street offerings is like jumping out of a Morris Minor into a Farrari.
In contrast I have been driving the same car for 17 years which ironically is actually going up in value now.
I would love an Aston Martin though The bike not the car the Aston Martin Stork bike is a paltry $27,000

If it brings you joy, does no one any harm and was paid for with your hard earned money then good luck Sir

 

[Droogs]

I've had my current bike since 1998/9 a Giant SCR3. It was one of the first in the UK and even though I have bought 2 Bianchis. a Boardman and a Peugot not pne of them felt as good as the SCR and were all sold. I worked out my bike has done over 150K over the years. It is strating to creak a bit now though

 

[Sporky McGuffin]

On a serious note what would £125 in 1979 be worth now

£679.

 

[Blackswanwood]

I stopped riding when my son took too much interest in them.
He's 21 now shows no interest nor any of his mates, seems like the kids don't want bikes. So I'm in the process of looking for a KTM RC8R, loved them from the beginning, or possibly a Ducati 888 if funds surfice.

Is the 888 still made Bob or are you going down the classic route?

I’m seriously considering a Fat Boy (that’s a Harley not a proclivity before anyone gets the wrong end of the stick)

I’m in the US at the moment and visited Milwaukee (which was a mistake to do so in February as it’s colder than a witches t1t and got the sales pitch at the Harley Davidson museum.

That’s the Terminator bike.

 

[Sandyn]

Come to Scotland and ride our trails.

And we have the wonderful Glasgow to Edinburgh canal ride, about 66 miles really good surface most of the way. Start on the Forth Clyde canal in Glasgow, to the Falkirk Wheel. See some beautiful sights along the way, stop off at a canal side pub for a wee refreshment. See the Falkirk wheel, perhaps a wee detour to the Kelpies, then from Falkirk to Edinburgh on the Union canal. Ending at Fountainbridge near the centre of Edinburgh.

 

[TRITON]

I've ridden thee forth and clyde many times Glasgow out to Bowling and Loch Lomond. Not quite the full run to Edinburgh, the battery in the bike would go that far unless i use eco, but who the **** wants to ride eco then theres getting back, though I could use the train. Have done so many times from Lomond.

Its just a shame the Scottish canal doesnt link to the English network (by water) that would make a serious tourist route.

 

[doctor Bob]

Is the 888 still made Bob or are you going down the classic route?

No stopped in 94, the KTM stopped in 2013. I think I'll go KTM, maybe a future classic but who knows, bought for fun.
I like Harleys but I think you need a build type to look good on them, I'm a skinny one and therefore sportsbikes suit me.
Great believer in do what makes you happy, these days.

 

[Sandyn]

Fancy a cycling challenge?
Sub 3 hour 100mile

 

[Sandyn]

I've ridden thee forth and clyde many times Glasgow out to Bowling and Loch Lomond.

I'm really lucky to be about half way between Edinburgh and Glasgow and my house is just half a mile from the canal. It's an amazing facility to have on your doorstep. I've done the Bowling run and up to Loch Lomond a few times, It's a beautiful run. Up in the Trossachs as well. I've done Glasgow to Edinburgh a few times.

 

[John Brown]

If the number of claims goes up insurance premiums will as the risk is higher

Passing it on to the consumer.

As far as bailouts go, I seem to remember some Lloyds names, who'd made money hand over fist for years, whingeing when they had to pay out, and there being some sort of bailout involved. It was some years ago, so it's quite possible that I have misremembered the details, in which case I apologise to any Lloyds names reading this forum.

 

[TRITON]

I'm really lucky to be about half way between Edinburgh and Glasgow and my house is just half a mile from the canal. It's an amazing facility to have on your doorstep. I've done the Bowling run and up to Loch Lomond a few times, It's a beautiful run. Up in the Trossachs as well. I've done Glasgow to Edinburgh a few times.

Sounds a nice spot. not quite super city like Edinburgh or Glasgow(myself form a small village) with everything on the doorstep.
Until my right Achilles tendon gave out i pretty much walked everywhere. cycling kind of made that happen, but now its how i get about. Quite ironic really
I think this summer I'll see about maybe a holiday with the bike up north, using one of the remoter B&Bs as a base. see a bit of the country by saddle

 

[doctor Bob]

I'm really lucky to be about half way between Edinburgh and Glasgow and my house is just half a mile from the canal. It's an amazing facility to have on your doorstep. I've done the Bowling run and up to Loch Lomond a few times, It's a beautiful run. Up in the Trossachs as well. I've done Glasgow to Edinburgh a few times.

Beautiful area, I lived in Polmont for quite a while in the 90's, loved it.

 

[Blackswanwood]

Passing it on to the consumer.

As far as bailouts go, I seem to remember some Lloyds names, who'd made money hand over fist for years, whingeing when they had to pay out, and there being some sort of bailout involved. It was some years ago, so it's quite possible that I have misremembered the details, in which case I apologise to any Lloyds names reading this forum.

There was not a tax payer funded bail out of Lloyds of London. Lloyds raised capital through selling assets (it’s building for one) and applying a levy on their members to create a run off vehicle called Equitas. The DTI had to approve it as it had never been done before and was contentious as there were fraud allegations from some members who had not understood what they were getting into claimed they had been misled.

It was a massive failure of governance on the part of Lloyds of London to allow the situation to arise but wasn’t a tax payer bail out.

I can point to some less than brilliant things that insurance companies have done (for example add ons, differential pricing based on propensity to pay etc) but your basic premise that claims costs simply get passed on or the tax payer bails the insurer out are not the case.

 

[John Brown]

There was not a tax payer funded bail out of Lloyds of London. Lloyds raised capital through selling assets (it’s building for one) and applying a levy on their members to create a run off vehicle called Equitas. The DTI had to approve it as it had never been done before and was contentious as there were fraud allegations from some members who had not understood what they were getting into claimed they had been misled.

It was a massive failure of governance on the part of Lloyds of London to allow the situation to arise but wasn’t a tax payer bail out.

I can point to some less than brilliant things that insurance companies have done (for example add ons, differential pricing based on propensity to pay etc) but your basic premise that claims costs simply get passed on or the tax payer bails the insurer out are not the case.

I accept I misremembered the Lloyds debacle, but I still maintain that rising payout costs get passed on to the consumer/premium payer. I would even go as far as to suggest that falling payout costs can be reflected in lower premiums. Isn't this the sort of thing actuaries are paid to work out?

 

[Blackswanwood]

I accept I misremembered the Lloyds debacle, but I still maintain that rising payout costs get passed on to the consumer/premium payer. I would even go as far as to suggest that falling payout costs can be reflected in lower premiums. Isn't this the sort of thing actuaries are paid to work out?

Ah - this may be down to the phrases being used. I read your initial post as suggesting insurance is a one way bet for insurers which is not the case.

The expectation of future claims largely determines premiums moving forward. Loss experience is one factor that determines the expectation of future claims costs.

Historic claims costs however are paid from premiums already collected. The PRA would stop an insurance company trading if they were looking to use future premiums to pay claims already incurred.

Sorry if I appear pedantic John - I do this stuff for a living and forgot this is only a woodworking forum

Cheers

 

[stuart little]

Yes, definitely, 2 things I don't want. plus the likely hood of being squashed like a hedgehog on the roads has no appeal to me. Therefore I run and row.
Used to cycle a lot, Norfolk to derbyshire, Norfolk to Bath, in my 20's

Why didn't you just get a bath installed at home? ..................................... just kidding!