In both cases, most of the weight is the weight of the rider.
Hardly, a bike weights between 5-15kg and a moped has a maximum weight of 250kg.
Ahh ok, so its fine then, if someone hits your vehicle it's your responsibility to chase them down and get them to pay up, assuming theyre kind enough to stop and give you their honest name and address so you can send legal documents through. No problem.
No, a hit and run is a police matter.
Otherwise it's like anything in life, if someone damages your property in any way such as scratching your car when walking past it, it goes through the normal legal process of the county court if the two parties can't work it out.
Insurance is designed to cover costs that the parties themselves would never be able to pay in an accident, the low value of damage caused by a typical bicycle accident does not warrant mandatory insurance. It is also completely impractical and unenforceable.
How extreme do you want to go? Should every man, woman, and child have public liability insurance to cover any possible accident they might cause? If I blindly walk into a road I could cause a massive accident, or I could accidentally bump into someone at work causing them to fall down 4 flights of stairs.
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