geecee Posted January 30, 2012 Posted January 30, 2012 Im insuring my wife and my own bikes @ arounf R35k, pay R55 on my normanl house insurance how much does it cost to insure your wife
YUMEYA Posted January 30, 2012 Posted January 30, 2012 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.Cool, thanks for clearing that up. Thought they being full of sh@#.
Caerus Posted January 30, 2012 Posted January 30, 2012 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 I'm paying R252 with Cyclesure on a 30K bike plus included is insurance to replace my Thule Euroway. Covered for all eventualities
ROCKITRIDEIT Posted February 16, 2012 Posted February 16, 2012 Outsurance look after the majority of my insurance needs, however they recently cancelled my 1 month old bike insurance policy with them for my Pinarello FP3 stating reason that it was no longer a risk they were willing to insure without a huge hike in premium from R350 pmto R900pm. For R50k cover I felt R900pm was not so much steep but pretty vertical. So they apologised and refunded all premiums since inception of the policy, but that obviously left me without cover. I was a bit miffed as I liked the flat rate excess Outsurance provided, whereas Cyclesure from whom I'd got a competetive quote the excess was % based on the size of the claim, and was 10% on wheel damage. Spoke with MiWay today and amazingly they have offered me all risks cover for R50k for only R200pm. The excess is a flat R400 on any claim. I'm sure there's a mistake been made somewhere, who knows maybe they'll cancel the policy in a months time, or maybe I'll find out why its so cheap if/when I come to claim.
Riamich Posted February 18, 2012 Posted February 18, 2012 Shame for Octall, on dropping a R50k frame but after all its a chinarello and he wants to claim for a R5K bike if any person pays R50k will frame that invoice on the wall. I would certainly do that. Trying to pose off a Chinarello as a Dogma
Cav' Posted February 27, 2012 Posted February 27, 2012 I pay 180 at miway for 24k cover but ... I havent claimed yet and a bit afraid they wont pay out or that there will be troubles when i claim ( if bikes get stolen) because they only asked me what the bike colur is and for what i want to insure it for. Wonder if i shouldnt get a replacement value from my lbs and send it to them , just incase it gets stolen that they know what to pay out. A bit sceptical about the whole bike insurance thing and the bad things i heard from clients of miway trying to claim and failing to.
fabes Posted February 27, 2012 Posted February 27, 2012 I am insured through Cycle Sure. Last month in a race i had a crash and damaged my frame. I informed them that i needed to claim for a new frame. I was told to take it to my lbs in Pe for a damage report. After that the claim was processed and paid out. All this happened in less than a week
Delgado Posted February 28, 2012 Posted February 28, 2012 Latest stats I've seen of the 2011 underwriting period is that bicycle claims are up 30% so be prepared for premium hikes. Interestingly the claims from crashes are not the main loss exposure.
Cav' Posted February 28, 2012 Posted February 28, 2012 Shame for Octall, on dropping a R50k frame but after all its a chinarello and he wants to claim for a R5K bike if any person pays R50k will frame that invoice on the wall. I would certainly do that. Trying to pose off a Chinarello as a DogmaTjop
covie Posted February 28, 2012 Posted February 28, 2012 Here is my take on Miway. I took out insurance on a new Pinarello Dogma I bought a few months ago. I had an accident a few weeks ago and put in a claim (frame not even built up yet and sent to Miway for inspection). I was told to produce the original proof of purchase which I do not have anymore and can not find anywhere either. Because of this I was accused of possibly using a friends frame to claim amongst other things. The person speaking to me (I assumed he is the claims manager) would not even give me a chance to speak the way he was carrying on). It has now been nearly a month since I put in the claim and told I can forget about getting anything without giving proof of purchase... I asked them what about the Mavic 3G trispoke, Disc wheel, MTB etc. etc. I do not have the proof of purchase for either...no answer on other side... I say if Miway wants to claim they are the best and make things easier then why all the hassles? Shame on you Miway! Dude miway is known as the worst company to have any bike insured at, best is mutual, then theres a another one can;t remember the name, and im with budgets thats not to bad. pay 250 for three high end bikes, claims process really smooth, and not even a submission of proof of purcharse required.
covie Posted February 28, 2012 Posted February 28, 2012 I pay 180 at miway for 24k cover but ... I havent claimed yet and a bit afraid they wont pay out or that there will be troubles when i claim ( if bikes get stolen) because they only asked me what the bike colur is and for what i want to insure it for. Wonder if i shouldnt get a replacement value from my lbs and send it to them , just incase it gets stolen that they know what to pay out. A bit sceptical about the whole bike insurance thing and the bad things i heard from clients of miway trying to claim and failing to.Dude i have my bike isnured for 30k at budget for R84. and they actually pay out.
Cav' Posted February 29, 2012 Posted February 29, 2012 Dude i have my bike isnured for 30k at budget for R84. and they actually pay out.Thats good to hear , as for the premium i will have to give them a call then
Tri-coach Posted April 8, 2012 Posted April 8, 2012 Self insurance for bike the best option... Put R200 a month in a separate savings account and hope for the best..
covie Posted April 8, 2012 Posted April 8, 2012 Self insurance for bike the best option... Put R200 a month in a separate savings account and hope for the best.. Awesome advice, in 14.5 years i can sleep with sound peace of mind becuase then ill be able to replace my bike.
chris_w_65 Posted April 8, 2012 Posted April 8, 2012 Self insurance for bike the best option... Put R200 a month in a separate savings account and hope for the best.. Self insurance is only for rich people where it makes more sense to invest the money. What if your bike is stolen the first week and your replacement gets stolen a week after you buy it. Things like this happen. I bought a superbike for R80000.00 and some twit with no insurance caused me to write the bike off. Imagine if I had been paying the R550.00 a month into a separate account for 3 months. Knowing my bike was covered I replaced it 2 days later and then just waited for the claim to be processed
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