GrumpyOldGuy Posted August 23, 2011 Share So you are saying in effect,- 1.Your son damaged the bike and it wasn't insured. 2. Someone from Cyclesure approached you AFTER THE FACT OF DAMAGE and said get a quote and send it to me. 3. They approved a repair (I assume you had to take out a contract) that happened before insurance was in place on the bike.? It almost sounds too good to be true. From experience I can assure you its not usual practise, I have never heard of an insurance company that will ever knowingly approve a repair that happened before you took out a contract (ie) Repair in exchange for a contract. Firstly, I am doubting its legal (I am checking) and secondly they would go out of business, as nobody would have insurance until they needed it. ..........but maybe I am not understanding your post correctly, pray tell me I am.! Link to comment Share on other sites More sharing options...
TNT1 Posted August 23, 2011 Share It almost sounds too good to be true. Sounds like fraud to me Link to comment Share on other sites More sharing options...
GrumpyOldGuy Posted August 23, 2011 Share Sounds like fraud to me Hmm, indeed it do's, .....I just hope we are misunderstanding the post. Link to comment Share on other sites More sharing options...
Caerus Posted August 23, 2011 Share Hmm, indeed it do's, .....I just hope we are misunderstanding the post. Im getting the same impression, something doesn't add up. Link to comment Share on other sites More sharing options...
geecee Posted August 23, 2011 Share im pretty sure if i were too put in a claim for an incident that happened before having insurance it would be constitute as fraud? but im no lawyer just waaaatch out Link to comment Share on other sites More sharing options...
Kranswurm Posted August 23, 2011 Share Hmm, indeed it do's, .....I just hope we are misunderstanding the post. I dont knowIf someone wants to give his money away as a marketing tool.....whats to stop him? Link to comment Share on other sites More sharing options...
brad890 Posted August 23, 2011 Share I dont knowIf someone wants to give his money away as a marketing tool.....whats to stop him? no i agree, actually very clever if you ask me because the father/son will now be dedicated cyclesure user and just as this post has shown, tell alot op people about how great they are etc, and that would probably be quite a few people as the father will be at races etc with his son. i'm sure they would probably make their money back pretty soon with contracts as a result of positive word of mouth. Link to comment Share on other sites More sharing options...
Falco Posted August 23, 2011 Share Sounds like a marketing campaign. Have staff hang around races, look for damages that won't result in a big capital outlay for the insurer, pay a small "claim" after the event, and sign a new client who will probably stay loyal and tell many people about his positive experience. Seems like good business to me. And good news for the person who gets the free repair up front. Link to comment Share on other sites More sharing options...
BenDL Posted August 23, 2011 Share Hmm, indeed it do's, .....I just hope we are misunderstanding the post. Don't know, but possibly Cyclesure provided insurance for the event itself as part of their "sponsorship"? Link to comment Share on other sites More sharing options...
GrumpyOldGuy Posted August 23, 2011 Share I dont knowIf someone wants to give his money away as a marketing tool.....whats to stop him? Hmm, I hear you but, No, I don't think so Kranswurm, insurance doesn't work like that, whats to stop someone then cancelling their insurance next week and the repair was free........Uh-Uh, insurance companies are not even keen to write you up in November as people then hold insurance for December when on vacation and cancel it in Jan on return. I really don't think that will ever happen, if it is then I will be astounded. Link to comment Share on other sites More sharing options...
GrumpyOldGuy Posted August 23, 2011 Share Don't know, but possibly Cyclesure provided insurance for the event itself as part of their "sponsorship"? That's a possibility, but then one must ask if ALL competitors who experienced damage were compensated.? Link to comment Share on other sites More sharing options...
GrumpyOldGuy Posted August 23, 2011 Share Sounds like a marketing campaign. Have staff hang around races, look for damages that won't result in a big capital outlay for the insurer, pay a small "claim" after the event, and sign a new client who will probably stay loyal and tell many people about his positive experience. Seems like good business to me. And good news for the person who gets the free repair up front. Hmm, I don't think so Falco. Its setting a dangerous precedent, what's to then stop someone saying my bike was stolen 6 months ago I'll take out insurance now and get a new one, or indeed my house burnt down, I'll take out insurance and get it rebuilt - If it went to court and was proved the insurance company had allowed repairs and compensation "after the fact" in previous cases they would be in a difficult situation to refuse all cases. .....but lets not get in a tizz, maybe its just a misunderstanding in the wording in which the OP posted. Link to comment Share on other sites More sharing options...
Zipp stripper Posted August 23, 2011 Share So you are saying in effect,- 1.Your son damaged the bike and it wasn't insured. 2. Someone from Cyclesure approached you AFTER THE FACT OF DAMAGE and said get a quote and send it to me. 3. They approved a repair (I assume you had to take out a contract) that happened before insurance was in place on the bike.? It almost sounds too good to be true. From experience I can assure you its not usual practise, I have never heard of an insurance company that will ever knowingly approve a repair that happened before you took out a contract (ie) Repair in exchange for a contract. Firstly, I am doubting its legal (I am checking) and secondly they would go out of business, as nobody would have insurance until they needed it. ..........but maybe I am not understanding your post correctly, pray tell me I am.! Link to comment Share on other sites More sharing options...
GrumpyOldGuy Posted August 23, 2011 Share Did I miss something bud.? It looks like you just duplicated my post.? Link to comment Share on other sites More sharing options...
Zipp stripper Posted August 23, 2011 Share I can assure you we dont, and still dont have any insurance contract with any insurance house, yes a chap by the name of Fred approached me and yes, Emotion Cycles have got the go ahead to repair all damadges, Dave at Emotion can confirm. And Yes, I will be filling out a contract as I requested an app. form because I could'nt believe it myself. I do believe it may be a marketing move on there side, and hell if it is, it worked for me. Viva Cycleure Link to comment Share on other sites More sharing options...
Tightfitt Posted August 23, 2011 Share I have had my share of dealings with Fred and Cyclesure - been in Jhb 3 years, and have had 2 R3SL Cervelo's smashed by cars. 2 write-offs replaced so I have a big account to "pay-off". Good service and very happy to pay my premium. Coming from an insurance backround, I must add that for insurance to work for you, one needs to be very aware of ones policy and ones own responsibilities. It is normaly when one is not aware that we pass judgement against the insurer. Make sure you read and understand your policy. For example - When you stop for coffee after a ride - if stolen while you in the shop, will it be covered? If not locked - almost certainly not. As for Cyclesure - big thumbs up! Link to comment Share on other sites More sharing options...
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now