Okay, now we all know if you ride a bicycle around this place it has to have one of those fancy little stickers you have to buy every year. Now I have a few questions:

• For what is it for?
• If insurance related, what does it cover, and what not?
• I have heard racing style bikes don't require this sticker. If not, why not? And what do I need then if I ride a racing style bicycle?

Help here would be appreciated.