KingTJ Posted May 21, 2015 Posted May 21, 2015 Sorry guys , I know there is a thread out there, but i just cant find it...just want to know which insurance company is best for bike insurance?
WR 1.0 Posted May 21, 2015 Posted May 21, 2015 Just like any discussion around insurance, you will get good and back comments on the same companies. Cycling specific Insurance providers (underwriting managers) are specialists (such as Cyclesure). You can also add your bike onto your current Personal Lines policy, under Specified Items (just check that racing is covered, usually only professional use is excluded) I would suggest you approach a broker (perhaps through your bank if you have a good relationship with them) to assist.
MarcBurger Posted May 21, 2015 Posted May 21, 2015 I'm with cyclesure. Haven't claimed yet but the service seems good so far.The fact that they ask all the details of your bike, not just "Oh, so it's red" like some general goods insurance. But as said: there will always be good, bad and ugly insurance stories. Mate of mine got a frame replacement claim from them after crashing into a carport pole.. at home.. sober.. in daylight.
Cam182 Posted May 21, 2015 Posted May 21, 2015 Does anyone have a solution for multiple bikes? Feels like a waste to insure multiple bikes when you only are ever going to be riding one at a time... And for me that's when they are at greatest risk (as touch wood, but i live in a fairly secure apartment complex) Ideally I would like to purchase X of insurance - i.e. a bike up to X value is insured while riding, and the other bikes are then insured by the household contents... Then i can ride any bike and if something happens its covered... Anyone in the insurance industry have any ideas?
Runbikeswim Posted May 21, 2015 Posted May 21, 2015 Is there a tire insurance? Just had to pop 1500 for new mtb ones
eddy Posted May 21, 2015 Posted May 21, 2015 Does anyone have a solution for multiple bikes? Feels like a waste to insure multiple bikes when you only are ever going to be riding one at a time... And for me that's when they are at greatest risk (as touch wood, but i live in a fairly secure apartment complex) My bikes are insured along with my houshold goods on the basis you described. All are covered at home and the one I am riding when not. It took 1 phone call, an email and 45 minutes to get my claim for a frame broken in a crash settled. I am however with a specialist broker and am not sure who the underwriter is. Chat to your broker.
KingTJ Posted May 21, 2015 Posted May 21, 2015 Thank I'm with cyclesure. Haven't claimed yet but the service seems good so far.The fact that they ask all the details of your bike, not just "Oh, so it's red" like some general goods insurance. But as said: there will always be good, bad and ugly insurance stories. Mate of mine got a frame replacement claim from them after crashing into a carport pole.. at home.. sober.. in daylight. Just like any discussion around insurance, you will get good and back comments on the same companies.Cycling specific Insurance providers (underwriting managers) are specialists (such as Cyclesure).You can also add your bike onto your current Personal Lines policy, under Specified Items (just check that racing is covered, usually only professional use is excluded)I would suggest you approach a broker (perhaps through your bank if you have a good relationship with them) to assist. Hi KingTJ I think this is the thread you're looking for: https://community.bikehub.co.za/topic/105649-bike-insurance/Thanks for the feed back guys... i have it under my personal insurance at the moment and i'm paying R200 a month for 70K bike, so was wondering if there is a better option out there , will try cyclesure
madbradd Posted May 21, 2015 Posted May 21, 2015 Does anyone have a solution for multiple bikes? Feels like a waste to insure multiple bikes when you only are ever going to be riding one at a time... And for me that's when they are at greatest risk (as touch wood, but i live in a fairly secure apartment complex) Ideally I would like to purchase X of insurance - i.e. a bike up to X value is insured while riding, and the other bikes are then insured by the household contents... Then i can ride any bike and if something happens its covered... Anyone in the insurance industry have any ideas?So I have unspecified all risk to the value of my most expensive bike and wheels et plus a little extra for garmin etc. Then have all the bikes under household for total loss. Only thing I'm not covered for then is if I have 2 of my bikes on my car and they get jacked. But it basically means I insure 45k unspecified + 55k additional household unspecified instead of 100k specified.
NGUTF Posted May 23, 2015 Posted May 23, 2015 Paying 280 I think with cyclesure for a 45k bike. Pop them an email and they'll send you a quote fairly quickly. Who you paying R200 with at the mo?
PeterF Posted May 23, 2015 Posted May 23, 2015 Paying 280 I think with cyclesure for a 45k bike. Pop them an email and they'll send you a quote fairly quickly. Who you paying R200 with at the mo?Just got a quote from Cyclesure for a R45k bike and it came to R290.00. Also want to check with the guys insuring my household contents as well.
Skylark Posted May 23, 2015 Posted May 23, 2015 Thank Thanks for the feed back guys... i have it under my personal insurance at the moment and i'm paying R200 a month for 70K bike, so was wondering if there is a better option out there , will try cyclesureIf it's all risks cover you are not going to get better than R200 for R70k cover. If you are happy with the insurer and the terms then stick with it.
428 others Posted June 3, 2015 Posted June 3, 2015 On a 2nd hand bike there's no warranty, is there any Insurance out there that would cover the bike in the way a warranty would?
Pure Savage Posted June 18, 2015 Posted June 18, 2015 My bikes are insured along with my houshold goods on the basis you described. All are covered at home and the one I am riding when not. It took 1 phone call, an email and 45 minutes to get my claim for a frame broken in a crash settled. I am however with a specialist broker and am not sure who the underwriter is. Chat to your broker. Now to buy some more bikes to have this problem
J∆kk∆ls Posted June 18, 2015 Posted June 18, 2015 Road bike. Covered for R50 000 at R90 p/mMTB. Covered for R30 000 at R133 p/mAll risk. Do MTBs cost more to insure is this normal ?
Pure Savage Posted June 18, 2015 Posted June 18, 2015 Road bike. Covered for R50 000 at R90 p/mMTB. Covered for R30 000 at R133 p/mAll risk.Do MTBs cost more to insure is this normal ?Is it a 29er Strange, but the R90/pm is a steal!!
Patchelicious Posted June 18, 2015 Posted June 18, 2015 Speak to a broker. I keep saying it, because its the best way. I have bikes insured:2014 Specialized tarmac road bike R65,000 - R150.68pm2014 specialised epic expert carbon 29er R68,000 - R157.64pm Full comprehensive all risk. If I crack a frame I can claim. A broker will always get YOU the best deal, that's how they are incentivized.Independent brokers also do not share in underwriting profits, so they WANT to get your claim paid. Careful of direct insurers, be very careful, make sure you read your policy schedule a few times. Remember that underwriting costs are directly related to premiums.So usually the lower the cost the less you are covered for. If you are ok with that, then all good. But remember that's the choice you made when it comes time to claim.
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