Bike Insurance

[Patchelicious]

Guaranteed you not covered in races.  Whether its stolen or damaged.

Is that guarantee based on a reverse calculation on the costs only, or some other factor? Maybe check the policy wording first?

[andreas17777]

Any ideas where to insure if you do not have household insurance? 

[CJ Van]

Just note that you probably do not have cover if your dog eats your wheel. It's a standard exclusion in most policy wordings.

I will have to double check this.  If this is in fact so I will have to get my dog liability cover so that I can claim said damages from him.

[Patchelicious]

Any ideas where to insure if you do not have household insurance? 

You would need to get individual risk insurance like Cyclesure.

[igg]

If I my asked, how much is this value you specified and how much is that marginal premium (if it is possible to observe it on your policy docs).

I'm paying R598pm for R185k unspecified all-risks cover.

The premium is linked to my household contents though, so I'm not sure how meaningful this value is for your case.

[Guest Ratchet road]

I'm paying R598pm for R185k unspecified all-risks cover.

The premium is linked to my household contents though, so I'm not sure how meaningful this value is for your case.

 Which company?

[Eugéne Alberts]

 

I would be interested to know how your levy would cover you against third party, fire and theft damage….

 

So, back to your question. I asked the same question to my broker not too long ago. He said that it could probably be done but will involve “alot” of admin. You will have to notify him every time you take a different bike out of the house. I asked the question if I can only insure the most expensive one and then because I can only ride one bike at a time the less expensive one will be covered if I ride that on a specific day. My broker will find this out for me, but I assume if the insurer is willing to make such an exception for you that you will have to have a proper insurance portfolio with them and not just one bike at any given time.

I have not heard anything back from my broker, but I am not worried because my second bike is still in bits and pieces until my frame gets back from painting. Not sure if a direct insurer like Outsurance will do this for you, that is why I have a broker, so that he can find all this out for me and negotiate with the insurance.

Depending on the overall value of your policy, some insurers offer a general all risks cover which covers you for absolutely any item up to a certain value, usually R100 000. No need to specify anything again unless it's value exceeds that.

[Eugéne Alberts]

Thanks for the input.

I'm not worried about a non-claim bonus as it's not an option for me.

It was also my reasoning that if the cost of parts are justifiable, then claiming for damaged parts should be okay without much

 

On your last point, my colleague's insurance recently paid out for an old macbook that 'reached the end of it's useful life' (didn't get dropped or anything - just stopped working). Being unable to repair, he got a new one. I guess it's also part of all-risk insurance.

I just wish the policies provided more clarity on these things. My policy just states that I won't be covered in the case of theft were my bike left unattended and locked up somewhere, everything else seems fair game.

No. If there was no insured event that occurred gross misrepresentation happened in order for them to pay that out.

[Eugéne Alberts]

Any ideas where to insure if you do not have household insurance?

Cyclesure

[Wannabe]

Anybody on here that has put in a claim through King Price?

 

I registered my claim yesterday, awaiting response / feedback with baited breath.

So far the dealings with them was professional and courteous.

[Dexter-morgan]

Anybody on here that has put in a claim through King Price?

 

I registered my claim yesterday, awaiting response / feedback with baited breath.

So far the dealings with them was professional and courteous.

Please keep us posted.

[Wannabe]

King Price settled my claim today. Lodged it on Monday, settled today. No if's, when's or but's. 

Full insured price, less excess amounts, paid out. "Credit Card" with appropriate amount pre-loaded, is on it's way to me by courier.

 

I should collect my new bike on Saturday latest.

 

To say I'm a happy Chappy, is to put it mildly.

[Darko]

Just insured the bikes with Outsurance at R37 & R25 pm each. 

 

Seems reasonable. 

[Grease_Monkey]

Just insured the bikes with Outsurance at R37 & R25 pm each.

 

Seems reasonable.

That really depends on what you insured them for.

[ChrisF]

Just insured the bikes with Outsurance at R37 & R25 pm each. 

 

Seems reasonable. 

 

Please check the fine print  (NOT a stab at the particular insurance house)

 

 

ALL of these insurance products have fine print ... you are at an event and your bike gets stolen.  You must show that the "lock was broken" when it was stolen of the car rack .... if they even cover it on a car rack .....

 

 

 

And I mention this specifically due to the LARGE number of bikes that gets stolen off car racks.

 

 

And YES, our bikes are transported on these same racks .....  If I want to submit a claim the rack must be damaged from them forcibly removing the bike.

[Darko]

One is R8k, the other is R11k

 

That really depends on what you insured them for.