Bike Insurance

[xtcman]

on another note...

 

i have been with Miway insurance for mre than a year now, when my wheelset had become damaged due to potholes in my area the trouble began. At first everything was normal, i had been to the police station and received an OB number and had got it sent through to miway. The main problem was the assesor and the lack of knowledge when it came to the assesor. One would think that if they sold a product they should atleast have the slightest bit of knowledge about bikes if not a whole lot.

 

Secondly was the fact that they would not accept my bike going to my preffered bike store, and isisted that it had to go to a cycle store in durban north where i livenall the way in central westville.

 

The durban north bike store had agreed that mt wheelset needed replacing just as my local bike store had said so.

 

More trouble arose as they were not able to understand that with a bike service, the wheels are trued and straightened. They now insisted that i had damaged my wheelset prior to my claim and now are asking for the excat date and time of when and where i hit that pothole previously.

 

When i had called the assessor and recommended that the assessors should atleast have common knowledge with bicycles and that i would like to speak to his manager, all he could say was that the call was being recorded and would be played back to his manager.

 

i had two bikes under insurance with them, my road bike valued at R24 000, and my mtb valued at R20 000

 

Speaking to others who have had similar problems with miway settled my decision to change, one such a person, who live in ballito, had to send there bike to a store in the durban morningside area, only to have miway call up a mechanic from a store near them to travel all the way to the durban area to confirm the damage.

 

The worst thing about this was that i actually kinda promoted their product as well, which made me look like an ass.

 

i have now cancelled my insurance with Miway and have purchased Cyclesure cover, premiums are the similar, service testimonials are real and not made up and they are situated in kloof, near to me. Best of all they let me use my preferred bike store.

 

**** Miway insurance and you can tell them i said that...

[RockSpider85]

Cyclesure...

 

If you do not have any other insurance policies remember MiWay do not insure your bike with personal liability....and they also do not add it on as an extra.

[Rudi Pollard]

Im also on cyclesure. Had two claims in the last year, and they paid out without any hassle.

[Forthefun]

I like to advise all who are insured to be vary careful with dealing with Alexander Forbes and Guard Risk. These company's fully control the short term ombudsman. So any claim that is repudiated and you take it to the Ombudsman, you have next to zero chance of a fair unbiased settlement. The head of Guard Risk sits on the board of the ombudsman. In a fist would country this would not be allowed. But in Africa things work differently.

 

Good advice, it cost our group plenty to learn how inappropriate the relationship is with these company's and the short term ombudsman. Governments know about this, but as expected look the other way, possibly as some high ranking Members"" have shares or they do not have the intellectual understanding or ability to rectify.

[Stoffel002]

OK here is my 2c. My all-risk items were insured with Momentum Sort-term. I had a WOW experience when my frame broke. I phoned to hear if this was covered by the policy(11:00). They regestered the claim over the phone and needed a report and quote to replace the frame. I send the qoute and report to them by 16:00 and the next day the money was in the bank. I walked away being truly WOW-ed.

 

I moved everything to momentum when I bought a new car(additional), and the new car's insurance were completely covered by the saving in premium. As far as insurance go, I can only talk highly about Momentum. I must just ad that my medical aid is with Momentum as well.

 

So long....Hubbers

[Captain Fastbastard Mayhem]

Who underwrites discovery ST side? What are their premiums like?

 

Hollard, but according to Discovery's own policy t's & c's.

 

As far as I know Discovery does not insure bicycles in timed events (races)

They also do not cover motorcycles for track days and they do not insure modified cars. 3 good reasons why my broker couldn't talk me into moving my insurance.

 

The cover for bicycles is all risks. And I mean all. Whether you're riding, racing or just driving with it on the back of the car. True all risks. I've spoken to the product designers and underwriters about this, as it was a concern for me. Their answer - no problem. We cover you.

 

WRT trackdays, I'm not sure, but I will admit that it's not an area I am interested in getting cover for (I don't do trackdays, and I'm not a short-term insurance broker)

[Minion]

I like to advise all who are insured to be vary careful with dealing with Alexander Forbes and Guard Risk. These company's fully control the short term ombudsman. So any claim that is repudiated and you take it to the Ombudsman, you have next to zero chance of a fair unbiased settlement. The head of Guard Risk sits on the board of the ombudsman. In a fist would country this would not be allowed. But in Africa things work differently.

And who exactly would this head of Guard Risk that sits on the board? I don't see him here:

http://osti.co.za/ou...-directors.html

 

The board of our ombudsman is made up four consumer representatives, three insurer representatives, one representative from the South African Insurance Association, two independent directors and one representative from the Financial Services Board.

 

Are you trying to tell us that this mystery individual is so influential that he can sway the likes of Judge John Myburgh and consumer journalists like Wendy Knowler? I doubt it.

 

First world countries? The board of the German ombudsman is made up only of insurance representatives. At least we've got an even mix.

http://www.versicher...tand/index.html

[chris_w_65]

I had bad experience with Alex Forbes, was dealing with idiots

[Wes84]

Personally I think it comes down to your broker. Your insurance can only be as good as far as your broker is willing to fight for your claim (obviously you have to be covered). I will never go without one. A good one. A friend.

[Forthefun]

After being quoted by other company's for my mtb insurance it was expensive and very limited cover I found these chaps based in Durban.

 

A 1/3 of the price from my broker. Fully cover no issues including races and damage and theft ect.

 

It was more than HALF to the quote from company Cyclesure. Please read his twice....

 

This will save fellow Hubbers big $$$$

 

I-Cycle

Steve Marnewick

Marketing Director

Cell: 0828202342

Tell: 031 566 2322

Fax: 031 566 2374

E-Mail: stephen@policyprovider.co.za

[Forthefun]

#266 Forthefun

Domestique

 

Members

60 posts

LocationSandton

Posted Yesterday, 20:29

After being quoted by other company's for my mtb insurance it was expensive and very limited cover I found these chaps based in Durban.

 

A 1/3 of the price from my broker. Fully cover no issues including races and damage and theft ect.

 

It was more than HALF to the quote from company Cyclesure. Please read his twice....

 

This will save fellow Hubbers big $$$$

 

I-Cycle

Steve Marnewick

Marketing Director

Cell: 0828202342

Tell: 031 566 2322

Fax: 031 566 2374

E-Mail: stephen@policyprovider.co.za

 

LAST STAY AWAY FROM FORBES AND ANY UNDERWRITING DONE BY GAURDRISK , YOU RISK LOSONG OUT..

[Guest Heino]

Hi;

 

Whatever you do, DO NOT USE OUTSURANCE!!!! I have had an issue with them, and further to this, I happen to have a friend that works for a contractor of Outsurance, basically his work is to investigate cycle claims (umong others) and see what they can use NOT to pay claims. I am utterly disgusted when I heard of this! I was interrogated by this guy, after having my bike insured for more than three years with them, cliam free. The assesor, or I would like to refer to him as the detective kept on trying to make me cancel my claim. They basically stole my bike out of the back of my locked bakkie. (They suggested poly graphs, CCTV Footage etc... It was an utter joke!, I did go for the polygraph!) I posted on my BBM status that this oke offended me and what what, then one of my school buddies responded to it and told me what they do! they work for commission! It basically means, if your claim is worth R50 000 they earn a percentage if the claim does not pay, or on the money they save OUTSURANCE! I have since moved to Cycle Sure, had one claim in two years, hassle free! I am in the security industry and happen to know that they are doing the same when it comes to house hold, Im talking about foul play!!!! When I cancelled they asked me if they could reduce my premium and offer lower access.................................................. Guess what my response was! (Oh and the matter ended up with the Ombudsman, I won!

[Lexx]

Sh@t, I'm with outsurance!!!!

[Guest Heino]

Sh@t, I'm with outsurance!!!!

 

Ha ha, i hope you mean as a policy holder and not an employee....

[Lexx]

Yip, as a policy holder. Luckily I work for a much better organisation.

[Guest Heino]

Yip, as a policy holder. Luckily I work for a much better organisation.

 

My advise is to leave before you really need them. Cycle sure is very competitive and service is good. And no, I dont work for them...