Mads Posted January 8, 2012 Posted January 8, 2012 This not BIKE insurance related - only insurance I am insured at Outsurance or should I rather say Out-of-insurance My son was in accident with our bakkieWhile waiting at a turn-off, some drove into him (and 5 more) from the side and scratched the side of the vehicle (please note that the accident was not his fault) After 2 weeks of investigation the result was the following: My son is younger than 25 years so I apparently had to nominate him as a driver _ which I did not.(I honestly did not know I should. Rather call me ignorant, but not stupid) I should have paid a raised premium because he was the driver. My premium was R678 per month, but according to them, I should have paid R1200.00 more because he is driving the vehicle So they made the following calculation:Damages - R19 338.31 Premiums short paid (1200 x 8months) – R10 103.76 Amount authorized to pay - R9234.55 Less Excess - R3030.00 Amount to be paid out - R6204.55 Also with immediate effect my premium was raised from R600.00 to R2000.00 After this, my opinion is that if you pay peanuts you buy monkeys. I mean: I had a very good insurance until the first time I needed to claim. My bikes is also insured at them, and I if I read correctly here, there will also be a list of excuses but not really a pay out if something goes wrong. Once this claim is finalized I will definitely go out and look for something decent.
patches Posted January 8, 2012 Posted January 8, 2012 I'm with outsurance and have had 2 claims so far on my dh bike. Last June, failed rear hub. They paid into my account within 3 days. And most recently in December I managed to crack the frame. That payout took a little longer due to the frame suppliers being on leave. But as soon as their quote was in, 1 day and the payout was made to the Lab (as they submitted the damage report ). My premiums aren't the cheapest, but my excess is fixed at R270 (R33 000 bike and R3 500 gear), and I've had great service
steve61 Posted January 16, 2012 Posted January 16, 2012 My daughter had her car written off so used mommy's car. It got stolen so we put in a claim to Budget. Under 25 extra R2500, not at the address insured at (she lived in PTA) extra R2500 excess and not nominated driver was another R2k or something. Altogether excesses came to just under R10k ...... on an 15 year old Mazda worth R20k!!!! Do I really need insurance. Answer is no. Now I got 3rd party only and put R1000 into an account each month and hope for the best!!
_freak_ Posted January 16, 2012 Posted January 16, 2012 Im insuring my wife and my own bikes @ arounf R35k, pay R55 on my normanl house insurance
Pusher Posted January 16, 2012 Posted January 16, 2012 Want to realy know how good your insurance is? You will only find out when you claim!
Christopher Brunsdon Posted January 17, 2012 Posted January 17, 2012 Want to realy know how good your insurance is? You will only find out when you claim! Agree and I'm about to find out with my bike, crank got damaged and was about to replace it out of my own pocket when I realised I'm paying insurance
ben-johan Posted January 17, 2012 Posted January 17, 2012 I have no insurance and just look after my stuff well.All insurance is a ripoff
ben-johan Posted January 17, 2012 Posted January 17, 2012 My daughter had her car written off so used mommy's car. It got stolen so we put in a claim to Budget. Under 25 extra R2500, not at the address insured at (she lived in PTA) extra R2500 excess and not nominated driver was another R2k or something. Altogether excesses came to just under R10k ...... on an 15 year old Mazda worth R20k!!!! Do I really need insurance. Answer is no. Now I got 3rd party only and put R1000 into an account each month and hope for the best!!Ditto!
Christopher Brunsdon Posted January 17, 2012 Posted January 17, 2012 I have no insurance and just look after my stuff well.All insurance is a ripoff Insurance industry is there to make a profit but having insurance is not about scoring, its about reducing the financial impact the point in time when you need to claim - something we discovered more than we wanted to the last 12 months (cracked car windscreen, shop windows broken twice and expensive equipment stolen)
Christopher Brunsdon Posted January 17, 2012 Posted January 17, 2012 OK, my broker just got back to me (sent him a mail only a few minutes ago) and while I could claim, my excess is more than the part I initially plan to replace
Tiny K Posted January 17, 2012 Posted January 17, 2012 I have no insurance and just look after my stuff well.All insurance is a ripoff I have insured my bike so that if (or more when) I get jacked of my bike, I will get financial reimbursement to replace my R30K bike, and not have to pay for it a second time.
D-Mike Posted January 17, 2012 Posted January 17, 2012 I have insured my bike so that if (or more when) I get jacked of my bike, I will get financial reimbursement to replace my R30K bike, and not have to pay for it a second time.Out of interest sake. What is your monthly insurance premium on the bike?
Tiny K Posted January 17, 2012 Posted January 17, 2012 Out of interest sake. What is your monthly insurance premium on the bike? Lots! R352.60 with Outsurance. Just put it on yesterday after receiving a verbal pricing from my LBS. I paid half what it is actually worth but got good deals on the hub - only 2nd hand parts are my saddle and pedals. Insured my shoes too for R3.7K (Sidi's) and am paying R5.16. LOL
YUMEYA Posted January 30, 2012 Posted January 30, 2012 My insurance would not cover for "professional" racing. Once I clarified that I do not get paid to ride and I am obviously not riding on a professional level but rather consider myself to be a fun rider. Then only did the insurance company decide it was ok to cover me for "races/fun rides". Anyone come across this kind of thing from an insurance company? Makes no sense to me.
Minion Posted January 30, 2012 Posted January 30, 2012 Then only did the insurance company decide it was ok to cover me for "races/fun rides". Anyone come across this kind of thing from an insurance company? Makes no sense to me.My insurance policy also states that it will not cover me for racing as a profession. Much like my car policy will not cover me if I use my car for business. It's pretty standard. You can get cover for professional use, but it will cost more due to increased mileage and risk.
Zatek Posted January 30, 2012 Posted January 30, 2012 Last year September 2011, had an accident with my car R33 000, the other car was driven into and was a write off R56 000 and in November my bicycle frame was cracked and was replacedapproved within 1 day (+ 1 day for bike to arive in the shop) R13 000. My insurance went up with R500 all around.
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