Lamber Posted March 29, 2011 Share So my days as a careless student are gone- and now I'm supposed to be responsible. I recently got a quote from my broker for household insurance and I get a good discount if I add my bike to that list. I'm on a Spezzie Epic Comp, so it is worth something- still I'm not sure if its worth the R100 per month seeing as I take good care of it and have relocated to Kimberley- not really the gun capital of SA. What's the going rate for insurance on say, a R20k bike, and can anyone share experience where the claim was needed? Edited March 29, 2011 by Lamber Link to comment Share on other sites More sharing options...
andretraut Posted March 29, 2011 Share R100 insurance on a R20K bike is for free, take it! My two bikes costs me way more than that. Edited March 29, 2011 by atraut Link to comment Share on other sites More sharing options...
swiss Posted March 29, 2011 Share Take it, mine is R 300 a bike (worth a bit more than R20K) Link to comment Share on other sites More sharing options...
Caerus Posted March 29, 2011 Share So my days as a careless student are gone- and now I'm supposed to be responsible. I recently got a quote from my broker for household insurance and I get a good discount if I add my bike to that list. I'm on a Spezzie Epic Comp, so it is worth something- still I'm not sure if its worth the R100 per month seeing as I take good care of it and have relocated to Kimberley- not really the gun capital of SA. What's the going rate for insurance on say, a R20k bike, and can anyone share experience where the claim was needed? If you can afford it, get it, you never know what could happen on the trail, even so much as your bike falling off its carrier(heaven forbid), at least its covered. Link to comment Share on other sites More sharing options...
The Drongo Posted March 29, 2011 Share So my days as a careless student are gone- and now I'm supposed to be responsible. I recently got a quote from my broker for household insurance and I get a good discount if I add my bike to that list. I'm on a Spezzie Epic Comp, so it is worth something- still I'm not sure if its worth the R100 per month seeing as I take good care of it and have relocated to Kimberley- not really the gun capital of SA. What's the going rate for insurance on say, a R20k bike, and can anyone share experience where the claim was needed? Chap. Check 2 things with your insurer: 1. Is the bike insured for theft & damage , and if so does this include damage during RACES? (usually NO unless a premium is paid) 2. Does the insurance cover COMPONENT damage ie: Fork, Frame, Wheelset? These on their own are High Cost items. I recently claimed for damage to replace a Fork (badly handled by a Local Bike Shop) and was paid out the 7+ K to replace it.A broken frame, outside it's warranty will also set you back. All in all, it was worth the 130 odd per month. I had it on my business insurance, but recently moved it to household, and it now costs less. Oh, By The Way, I have seen a moerse big pothole in Kimberly, so avoid it if Not Insured! Edited March 29, 2011 by The Drongo Link to comment Share on other sites More sharing options...
Lamber Posted March 29, 2011 Share If you can afford it, get it, you never know what could happen on the trail, even so much as your bike falling off its carrier(heaven forbid), at least its covered. Actually that's the only reason why I was considering it. That and getting hit by a truck- AGAIN Link to comment Share on other sites More sharing options...
dirtrider Posted March 29, 2011 Share To get back to the question . If you can affort to replace the lost/damaged/stolen item you don't need insurance, if you can't you do . That is the simple answer . Link to comment Share on other sites More sharing options...
Caerus Posted March 29, 2011 Share Actually that's the only reason why I was considering it. That and getting hit by a truck- AGAIN Read what Drongo had to say as well Parts are expensive to replace as well. I know Im covered for everything(races included) Link to comment Share on other sites More sharing options...
AndreZA Posted March 29, 2011 Share A broken frame, outside it's warranty will also set you back. Cyclesure does not pay out for manufacturing defects. Like when you buy a second hand bike and warranty falls away. Link to comment Share on other sites More sharing options...
Lamber Posted March 29, 2011 Share Chap. Check 2 things with your insurer: 1. Is the bike insured for theft & damage , and if so does this include damage during RACES? (usually NO unless a premium is paid) 2. Does the insurance cover COMPONENT damage ie: Fork, Frame, Wheelset? These on their own are High Cost items. I recently claimed for damage to replace a Fork (badly handled by a Local Bike Shop) and was paid out the 7+ K to replace it.A broken frame, outside it's warranty will also set you back. All in all, it was worth the 130 odd per month. I had it on my business insurance, but recently moved it to household, and it now costs less. Oh, By The Way, I have seen a moerse big pothole in Kimberly, so avoid it if Not Insured! Someone once said "you don't get advice on theHub"- only opinions. So contrarary to that- thanks a lot Drongo. It does cover races, but they never mentioned anything about components- so I'll have a chat. PS there are 4 Big Holes in Kimberley, of which 'the big hole' is the SMALLEST (although its the biggest MAN MADE hole). And yes, i work at one of the the other 3 Link to comment Share on other sites More sharing options...
Christopher Brunsdon Posted March 29, 2011 Share I'm not so sure what our "new" insurance is going to cover but I've been quoted R60 for R12K. We are taking out a complete package (business, home, car, bicycle) and was very happy to see how much we are going to save. Speak to your broker and shop around. (Our "rough" quote as the broker first needs to see our exact needs, is cheaper for all 4 things than what we are currently paying just for the car and business) Link to comment Share on other sites More sharing options...
MTBer wannabee Posted March 29, 2011 Share just keep all your reciepts for your components when you upgrade and specify them. Link to comment Share on other sites More sharing options...
Just Keep Pedaling Posted March 29, 2011 Share "Actually that's the only reason why I was considering it. That and getting hit by a truck- AGAIN" Maybe you want to consider life insurance instead of bike insurance. Link to comment Share on other sites More sharing options...
covie Posted March 29, 2011 Share So my days as a careless student are gone- and now I'm supposed to be responsible. I recently got a quote from my broker for household insurance and I get a good discount if I add my bike to that list. I'm on a Spezzie Epic Comp, so it is worth something- still I'm not sure if its worth the R100 per month seeing as I take good care of it and have relocated to Kimberley- not really the gun capital of SA. What's the going rate for insurance on say, a R20k bike, and can anyone share experience where the claim was needed? dude dont be stupid pay the 100bucks, this is SA either its going to get stolen at some point, or your going to crack a frame or cause some other damange. This is a no brainer. Link to comment Share on other sites More sharing options...
Pusher Posted March 29, 2011 Share So my days as a careless student are gone- and now I'm supposed to be responsible. I recently got a quote from my broker for household insurance and I get a good discount if I add my bike to that list. I'm on a Spezzie Epic Comp, so it is worth something- still I'm not sure if its worth the R100 per month seeing as I take good care of it and have relocated to Kimberley- not really the gun capital of SA. What's the going rate for insurance on say, a R20k bike, and can anyone share experience where the claim was needed?Get quotes. I pay far less than that on a R30k bike. Link to comment Share on other sites More sharing options...
Regard Posted March 29, 2011 Share Get quotes. I pay far less than that on a R30k bike.With whom are you? I pay R280 on a R50k bike, so R100 on R20k not bad I thinks Link to comment Share on other sites More sharing options...
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