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Bike Insurance


awesme

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My insurance premium is killing me financially, but I can not afford to go without it. I own two Spez S-Works bikes, one a Tarmac and the other one a Stumpy 29er, of which both the replacement values are more than R60 000 a piece. My insurance is a few bucks short of R800 with Outsurance. Could'nt get it cheaper anywhere else.

 

 

Ouch! It is a Spez S-Works Tarmac that is arriving for me in a few weeks which is what prompted the question. The thought of splashing out that sort of money on insurance makes me feel ill. 7k or so a year! Crazy.

 

kla met 'n witbrood onder die arm.

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I just joined MiWay and will start paying R130.70 per month!

Edited by gwhite
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I just joined MiWay and will start paying R130.70 per month!

 

Wow! Have you considered adding them to your home insurance policy?

I used to be with M&F, had two bikes insured fro R40k each and I think I paid about R55-R60 p.m?

 

And I claimed for a broken MTB frame, which they happily paid out within 3 days...

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Just make sure it is covered while it is being transported.

 

If it is stored in a garage/store room that is not connected to the house tell them,and make sure it is shown in your policy.

 

Make sure it is covered while you are in a race,and make sure it says so in your policy.

 

There are some companies that are starting to repair carbon frames rather than replace them,check what your policy says.

 

I have been with Cyclesure for ages and never had a problem.They are not the cheapest but the service is good.

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I'm with MiWay and they seem pretty good... Their policy covers everything, from storage to transport to racing and they were on average R50 less than other quotes!

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My insurance is a few bucks short of R800 with Outsurance. Could'nt get it cheaper anywhere else.

Is that R800 for both or R800 each? Do you insure other stuff with Outsurance?

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Ouch! It is a Spez S-Works Tarmac that is arriving for me in a few weeks which is what prompted the question. The thought of splashing out that sort of money on insurance makes me feel ill. 7k or so a year! Crazy.

 

The replacement value for my 2 bikes is over 70k. I don't want to pay huge amounts of insurance so I'm just insuring the frames. At least then if they get stolen, I can still get a decent bike (although not nearly as nice as my baby's).

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My wife and I have taken out a single multi cover with a new broker and I got 2 bikes with a combined replacement value insured for R12k plus R7K all risk for my gear,glasses for R65pm. (I'm over insured at the moment but with upgrades I'm doing I will hit the correct insured value very fast)

 

But when we look at the big picture we are actually paying less for more insurance now - we have the business, car, household and bikes.

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Is that R800 for both or R800 each? Do you insure other stuff with Outsurance?

 

R800 for both included with a policy which also covers 4 cars and house contents...... but wait, after reading this post, I gave MiWay a call and had both my S-Works babies insured for R475 as from 1 August. :clap: Now I can afford my new Venge S-Works!:thumbup:

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Wow! Have you considered adding them to your home insurance policy?

I used to be with M&F, had two bikes insured fro R40k each and I think I paid about R55-R60 p.m?

 

And I claimed for a broken MTB frame, which they happily paid out within 3 days...

 

Not yet but I am considering it and as mentioned by Schnavel it covers transporting of the bike, whilst racing or even whilst in the trails and of course theft!

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R800 for both included with a policy which also covers 4 cars and house contents...... but wait, after reading this post, I gave MiWay a call and had both my S-Works babies insured for R475 as from 1 August. :clap: Now I can afford my new Venge S-Works!:thumbup:

 

MiWay seems to give a fantastic deal... Just one thing, make sure you have given them either the original purchase cost (receipt) or if the bike is second hand (as in my case), an replacement evaluation by a LBS... This is just so when it comes to claiming, the insurance company knows what your bikes are worth and that you are not trying to steal more money than you should!

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  • 1 month later...

I would like to thank Cyclesure for approaching me at the XC Race at Fountains on Saterday, when Fred came across and said Cyclesure will assist in repairing my sons Soft tail that hit something on the single track long grass and broke his rear stays.

 

I told him I dont have insurance, he said, take my card and send me a Qoute, Done this morning and approved and will be repaired by late tomorrow, leaving for MTN/Nissan on Thursday.

 

Cannot believe I hav'nt had them on my stop orders long ago.

 

Viva the Boks, Viva Cyclesure :clap:

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Are you sure they are an insurance company? And he didn't even ask for the soul of your first-born in return?

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well thats good to hear because i'm also currently using cyclesure, hope if the pawpaw hits the fan for me (which it hopefully wont) i'll also be able to write a happy ending story like this.

 

big up to cyclesure :thumbup:

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