Be careful about OUTsurance bike cover

[Eugene Oppelt]

I haven't really heard anything positive about this company.

How do they still survive?

Edited July 2, 2013 by ' Dale

[Adrian4Four]

I haven't really heard anything positive about this company.

How do they still survive?

 

Probably by taking premiums and hardly ever paying out....

[SupremeLady]

I can honestly say that I do not know very much when it comes to insurance, BUT I can tell you the following...

 

I phoned OUTsurance for a quote for insurance on my car as well as my MTB and the quote I received was as follows:

 

Car - R580.00

MTB - R895.00

 

 

I am not sure why they want me to let alone pay more... but pay THAT much more for my MTB??

 

Needless to say, I did not accept the quote and got a premium for even less than half the price (combined price) with MiWay!

[Delgado]

I'm on about my fifth call to try and get absolute clarification on what they cover.

 

But if you read their sales talk on their website everything looks great:

 

http://www.outsuranc...oducts/bicycle/

 

Especially these bits:

• Receive complete protection from OUTsurance when you are racing, training or riding socially.
  
• You'll also receive worldwide cover! There is literally no place on earth you can go where you won't be covered. So why wait? Next time you visit Mozambique, don't hesitate to take your bicycle with you.
  

And later on:

• If you already have household insurance with OUTsurance, we'll throw in personal legal liability for up to R5 million.
  

 

I have had such a policy with them for a while, but am having enormous difficulty getting them to confirm that the policy covers what they claim above - specificlly the personal liability aspect. Despite advertising it, they don't seem to want to actually confirm it is covered.

 

I'm pretty close to switching to Hollard Cyclesure, who actually do seem willing to confirm they cover all of the above.

The cover is detailed in your current policy document & any subsequent, if any, endorsements issued. These, trust me, are what get read out in court.....

[Eugene Oppelt]

 

 

Probably by taking premiums and hardly ever paying out....

 

:-O

 

They have so much telly marketing coverage.

[andrecapetown]

I'm with Outsurance, been planning to move to to PPS short term insurance, at least they're a low risk pool, and don't spend zillions on cornet tv ads.

 

Is any body here at PPS short time insurance?

[Warren_G]

I've got my bike insured with CycleSure and claimed for a new wheel and saddle with no hassles and no questions asked...

I hear iCycle is also pretty good...

[Adrian4Four]

I'm with Outsurance, been planning to move to to PPS short term insurance, at least they're a low risk pool, and don't spend zillions on cornet tv ads.

 

Is any body here at PPS short time insurance?

 

Insurance ads are the most annoying of all tv ads... Do they really think their stupid ads are gonna make people run to insure their stuff with them? Actually all SA-made ads are really lame

[Rob22]

I can honestly say that I do not know very much when it comes to insurance, BUT I can tell you the following...

 

I phoned OUTsurance for a quote for insurance on my car as well as my MTB and the quote I received was as follows:

 

Car - R580.00

MTB - R895.00

 

 

I am not sure why they want me to let alone pay more... but pay THAT much more for my MTB??

 

Needless to say, I did not accept the quote and got a premium for even less than half the price (combined price) with MiWay!

 

I tried Auto & General and they quoted me R880 for a MTB??

[Pusher]

There is a reason direct insurers are cheaper, even though their marketing budgets are huge, think about it for a moment before nice low premiums lure you.

Not so sure about this. Quotes I got from them last year were a joke. Very happy with my broker and the rates I pay. Outsurance tried to better it-couldn't come close!

[walkerr]

I hear iCycle is also pretty good...

 

Thanks Warren, will take a look. My case is a little atypical (need for overseas 3rd party liability cover). Cyclesure have given me written confirmation of this, and also agreed to waive the 3 month deferrment period on overseas trips being covered for new policies. So they've come back with everything I need - which is lilkely to get my business unless OUT can sort their act out.

[Adrian4Four]

I can honestly say that I do not know very much when it comes to insurance, BUT I can tell you the following...

 

I phoned OUTsurance for a quote for insurance on my car as well as my MTB and the quote I received was as follows:

 

Car - R580.00

MTB - R895.00

 

 

I am not sure why they want me to let alone pay more... but pay THAT much more for my MTB??

 

Needless to say, I did not accept the quote and got a premium for even less than half the price (combined price) with MiWay!

 

WOW!!!! What is your bike insured for that they wanted to charge that much? My bike is covered for R38k at R290 with CycleSure

[bradleyg]

I would be very careful with them. They know nothing about bicycle value. I was taken out by a taxi last year and bike written off. Got quotes for my bike from thier service provider ( Cycle Lab ) and after lengthy debates and fights they still only paid half the value of my bike. They actually took values for my bike from Gumtree and OLX and paid me the least value. Case is now with Ombudsman but will never ever again use them.

[SupremeLady]

WOW!!!! What is your bike insured for that they wanted to charge that much? My bike is covered for R38k at R290 with CycleSure

R40k and I think I still negotiated for less than R290 with Miway

[SupremeLady]

I tried Auto & General and they quoted me R880 for a MTB??

Does not make sense to me at all, I honestly think they charge way too much...

[walkerr]

I would be very careful with them. They know nothing about bicycle value. I was taken out by a taxi last year and bike written off. Got quotes for my bike from thier service provider ( Cycle Lab ) and after lengthy debates and fights they still only paid half the value of my bike. They actually took values for my bike from Gumtree and OLX and paid me the least value. Case is now with Ombudsman but will never ever again use them.

 

Just to clarify - by "them" do you mean OUTsurance? (just want to be sure, as we've also discussed couple of other firms in this thread).