Patchelicious Posted January 7, 2014 Posted January 7, 2014 I'll weigh in on this topic properly when my stolen bike claim has been finalized. But when it comes to companies like Outsurance and Dial Direct. They are tapping in to the perception that brokers are thieving scum and responsible for the high premiums that we pay. Cutting out the middle man etc etc. This is simply not true. Firstly brokers earn a TEENI TINY commission on short term insurance. The commission is paid monthly so the broker is k@kking for years to build up a decent book before he makes any money on short term business. My wife is a broker (Life and Investments) and her company is trying to get rid of their short term book cos it's such a hack. Secondly. The commission the Outsurance would pay to brokers is being routed into television advertising and call centers. THEIR PREMIUMS ARE CHEAPER BECAUSE THEIR REPUDIATION RATES ARE HIGHER! SIMPLE! I think I love you for this post. Another thing to remember, and I have said this before, a broker does not pay the claim, so they will do everything to get your claim paid to keep you as a client! Currently through a broker I pay: R148 pm for a Spez Tarmac Pro with Cosmic SL wheels, all specified and comprehensive and R154 pm for a Spez Epic Expert also specified and comprehensive. Total cover is R135k for R300 per month? Bargain! Find a good broker, they need you and will therefore look after you!
Meentb Posted January 10, 2014 Posted January 10, 2014 Ive got full comprehensive insurance with I Cycle.R50 000 replacement value. R208 per month
feetup Posted January 15, 2014 Posted January 15, 2014 If we all go with advice from personal BAD experiences then-DO NOT INSURE WITH ANYONE EVER! It happens to the best of us. I do all my policies,insurance etc with my broker. I sit him down and say"this is what i want ,can you do it?" If there are complications then at least my broker deals with all the crap
Blackheart Posted January 17, 2014 Posted January 17, 2014 My 2011 Cannondale Carbon Flash 2 29er was stolen on 3rd Jan from my garage, while I was at home during the day. I have complied with every condition off my Cyclesure policy, even down to the size and type of chain/cable to be used. After 2 weeks of backwards and forwards with Cyclesure, today I received notice that they will not cover because there was no sign of forced entry into the garage. I have all the supporting documentation usually necessary, receipts, serial numbers, photographs. Police have opened a case of theft/housebreaking and have assigned a detective to the case. The CSI dude showed me where the thieves got over the wall and accessed the garage side door. Feels like I'm getting screwed on a technicality.
Mailman7412 Posted January 17, 2014 Posted January 17, 2014 My 2011 Cannondale Carbon Flash 2 29er was stolen on 3rd Jan from my garage, while I was at home during the day. I have complied with every condition off my Cyclesure policy, even down to the size and type of chain/cable to be used. After 2 weeks of backwards and forwards with Cyclesure, today I received notice that they will not cover because there was no sign of forced entry into the garage. I have all the supporting documentation usually necessary, receipts, serial numbers, photographs. Police have opened a case of theft/housebreaking and have assigned a detective to the case. The CSI dude showed me where the thieves got over the wall and accessed the garage side door. Feels like I'm getting screwed on a technicality. one word ombudsman. but it will take time
Super Sywurm Posted January 17, 2014 Posted January 17, 2014 The secret word is: specify, specify, specify. Whenever you buy anything that you want to insure, whether it's you new R2k oakley shades, your b.berry, your bikes, your TV, whatever - specify it immediately. In other words, you send an email to the broker/insurer and say you would like to add to your insurance policy as a specified item. In the email you attach a scanned copy of the paid invoice/receipt, as well as a photo of the item. Do all this immediately and up-front. Always. You will never have problems claiming if you follow these basic rules. Also, some insurance companies don't cover 'extreme sports' (esp. overseas). Some people consider mountain biking an extreme sport. So you send an email to your health insurance company, your bond cover underwriters, your life insurer and your insurer of your bike, asking for them to send you a letter - on an official letterhead - stating explicitly that you are fully covered in the event of an accident when out riding your bike down the side of a mountain. Before I went to Knysna for a race, I asked Miway if I am covered when I fall from a mountain and they said yes!
jaco369 Posted January 21, 2014 Posted January 21, 2014 Before I went to Knysna for a race, I asked Miway if I am covered when I fall from a mountain and they said yes!i am also with Miway. i asked them teh same thing. they said yes haha..
jaco369 Posted January 21, 2014 Posted January 21, 2014 Before I went to Knysna for a race, I asked Miway if I am covered when I fall from a mountain and they said yes!i did use some more crass words though. so far so good. R108pm for my Scott scale insured for R17000. reminds me. mneed to up it as replacement value is now R23 000. damn weak rand
Super Sywurm Posted January 21, 2014 Posted January 21, 2014 i did use some more crass words though. so far so good. R108pm for my Scott scale insured for R17000. reminds me. mneed to up it as replacement value is now R23 000. damn weak rand Mine is R13000 for R65/month.
jaco369 Posted January 21, 2014 Posted January 21, 2014 Mine is R13000 for R65/month.i have to say, i do not have the best insurance record, so that is most likely why...
Super Sywurm Posted January 21, 2014 Posted January 21, 2014 i have to say, i do not have the best insurance record, so that is most likely why... Ja, the more you claim, the more you pay!
jaco369 Posted January 21, 2014 Posted January 21, 2014 Ja, the more you claim, the more you pay! just went and upped my insurance online with Miway to 2014 model replacement value. took me 2mins. not too bad. now just to wait till claim stage..
Super Sywurm Posted January 21, 2014 Posted January 21, 2014 just went and upped my insurance online with Miway to 2014 model replacement value. took me 2mins. not too bad. now just to wait till claim stage.. You can never judge an insurance company before you actually have to claim.
covie Posted January 21, 2014 Posted January 21, 2014 Ahhhhh - ok, that makes sense I was thinking there was a sneaky clause that they wouldn't pay out if the value was incorrectly declared when the bike got stolen... budget doesnt work that way, I claimed my fork around 9k, so they pay out 9k -minus my excess. so i get out around 8.5k.
JohanC Posted January 24, 2014 Posted January 24, 2014 PM me if you want quotes for insurance. The best is to do the exercise and shop around for prices. Bikes can be added to your current insurance as specified under you All Risk. Be sure to read the fine print of the different companies and what they do and do not cover. I'm a broker with about +15 insurers on my platform. (Santam, M&F, A&G, Cyclesure etc..) I did a quote on my MTB last week with my (current) insurer (Santam). Cyclesure came in cheaper with almost R100. Lastly, I have only received excellent service from Cyclesure with client's claims.
Clinton1972 Posted February 16, 2014 Posted February 16, 2014 Hi Guys, Thank you for all your positive feedback with regards to our new product! We are very excited to have finally launched our new Bicycle Tracking System, after almost a full year in development! The complete system can be viewed at www.cycletrack.co.za
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