VeloRacer Posted June 24, 2011 Posted June 24, 2011 I asked my broker for a quote for my bike.The replacement value is R 30 000. The cost per month will be R 236 with cyclesure and R 242 with Santam. What are you guys paying and with which insurance? I can recommend Cyclesure anyday! Riccardo Stermin(broker)is himself a cyclist and really goes the extra mile to help you.my premiums were R400 for a Cervelo R3, Powertap, Garmin, Shoes, helmet and Oakleys. And yes I did claim already.
Mackem Posted June 24, 2011 Posted June 24, 2011 I can recommend Cyclesure anyday! Riccardo Stermin(broker)is himself a cyclist and really goes the extra mile to help you.my premiums were R400 for a Cervelo R3, Powertap, Garmin, Shoes, helmet and Oakleys. And yes I did claim already. My caveat would be it is all fine and well dealing with a large insurance company directly, but nothing helps more than a good professional broker like Riccardo. I had my first expensive bike insured through him and after paying only 2 months of premiums fell at a race. Riccardo ensured that every piece of equipment that was damaged or scraped was replaced (even though some were still functional!) The claim was paid with no hassles. He has had my business since then, and will keep my business, even though I may be able to save a few rand here and there by shopping around. I have had my same broker for my car and household for a few years now (+-10 yrs) and last week my wife's car got broken into by a thief with a scanner that disabled her car alarm. Nothing much of value was stolen out of the car, except for my daughters Nintendo 3DS which she had got the week earlier for her birthday. I hadn't got around to specifying it as part of my All Risks, but contacted my broker anyway. Based on my claims history and despite there being no forced entry, I have been notified that I will be paid out next week due to the motivation provided by my broker in assessing the claim. For me the realtionship with my broker is more important than having the cheapest cost.
OcTaLL Posted June 27, 2011 Posted June 27, 2011 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! According to the insurance the frame was counterfeit so now I am taking on the person I bought it from. If I said anything to wrong Miway I apologise to them!
Caerus Posted June 27, 2011 Posted June 27, 2011 According to the insurance the frame was counterfeit so now I am taking on the person I bought it from. If I said anything to wrong Miway I apologise to them! Eish, this is not sounding good. How come they have no record of you buying the bike from them?
Weight Weenie Posted June 27, 2011 Posted June 27, 2011 Just wondering what happens is your bike gets jacked/damaged while at the lbs ? Do they have insurance ? will yours cover it ? Or will they just say they have indemnity of you sign a jobcard or such ?
Minion Posted June 28, 2011 Posted June 28, 2011 Just wondering what happens is your bike gets jacked/damaged while at the lbs ? Do they have insurance ? will yours cover it ? Or will they just say they have indemnity of you sign a jobcard or such ?It they don't take due care in looking after it properly, the LBS will be liable (another benefit of the CPA). Otherwise, ask your insurer. Mine will cover loss or damage to my bike when it's in the possession of airlines, bike shops etc.
Skuzzi Posted June 28, 2011 Posted June 28, 2011 I have insurance through Hiram group. They cheap and very very good. Have TT bike worth 61000 and it costs me 226 per month. Did 70.3 this year and on the way back the bike came off the trailer bracket at 120km/h and broke into pieces!!!! At that stage I had not even been with them for a month and had not even paid my first months payment!!! They paid me out no questions asked!!!
camerons Posted July 18, 2011 Posted July 18, 2011 As I live in a very secure estate I've not bothered to get my bikes insured but with the imminent arrival of a rather expensive new bike which I could never afford to replace I am thinking I might get some. I'm thinking especially to protect against theft while out and about on my bike rather than while it's at home in the garage. Do most of you have insurance?From where?What does it cost +/-? Cheers
El Dodgius Bastardo Posted July 19, 2011 Posted July 19, 2011 Try cyclesure. R120 per month for my Trek Fuel
Mojoman Posted July 19, 2011 Posted July 19, 2011 As I live in a very secure estate I've not bothered to get my bikes insured but with the imminent arrival of a rather expensive new bike which I could never afford to replace I am thinking I might get some. I'm thinking especially to protect against theft while out and about on my bike rather than while it's at home in the garage. Do most of you have insurance?From where?What does it cost +/-? CheersSadly I don't think you are secure anywhere in RSA these days!
andretraut Posted July 19, 2011 Posted July 19, 2011 My insurance premium is killing me financially, but I can not afford to go without it. I own two Spez S-Works bikes, one a Tarmac and the other one a Stumpy 29er, of which both the replacement values are more than R60 000 a piece. My insurance is a few bucks short of R800 with Outsurance. Could'nt get it cheaper anywhere else.
Super_mil Posted July 19, 2011 Posted July 19, 2011 Sorry for the Hi-jack, but would bicycle insurance cover a frame that cracks out of warranty?
Falco Posted July 19, 2011 Posted July 19, 2011 Sorry for the Hi-jack, but would bicycle insurance cover a frame that cracks out of warranty?As I understand it from my insurance, if the frame cracks as a result of an accident, it is covered. If it cracks from fatigue, it is considered "wear and tear" and is not covered. I may be wrong, but that's how I think it works.
hayleyearth Posted July 19, 2011 Posted July 19, 2011 Just get insurance! For me it is mostly when I am on my MTB or when it is in transit in/on my vehicle; although it is covered in all conditions incl. races. MiWay was R80/month cheaper and not so irritating on the phone as Outsurance and they didnt want to know my WHOLE pedigree, my access is less and I didn't have to pay a 'starting' fee. I did stipulate clearly on an email what I am looking for and what actions I expect if something happens. They know the exact details of my bike and even what I call him "Bike-jacking" is a sad reality! Good luck!
awesme Posted July 19, 2011 Author Posted July 19, 2011 Can anyone comment on Momentum, I insured 2 bikes with them at a reasonable price, only thing is the bike value is capped at R10K, I've now upgraded my bike a little bit and well it's not R10K anymore. G
camerons Posted July 19, 2011 Posted July 19, 2011 My insurance premium is killing me financially, but I can not afford to go without it. I own two Spez S-Works bikes, one a Tarmac and the other one a Stumpy 29er, of which both the replacement values are more than R60 000 a piece. My insurance is a few bucks short of R800 with Outsurance. Could'nt get it cheaper anywhere else. Ouch! It is a Spez S-Works Tarmac that is arriving for me in a few weeks which is what prompted the question. The thought of splashing out that sort of money on insurance makes me feel ill. 7k or so a year! Crazy.
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