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Be careful about OUTsurance bike cover


walkerr

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I have loads more to share. Thats why Outsurance can offer low premiums. They pay out less than half of ANY average insurer in South Africa.

Do the statistics published by the FSB and the short term insurance ombud support this claim, or is it just hearsay?

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I have loads more to share. Thats why Outsurance can offer low premiums. They pay out less than half of ANY average insurer in South Africa.

Hmmm, been with them around 7 years now and probably done about 10 claims (mainly my clumsy better half :whistling: ), never an issue... Where do you get your stats on who pays out what?
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Its for services rendered. If there is a loophole there is no grounds for a valid claim.

 

Easy and legal...

 

So they render the same service whether the claim is valid or not, but only get compensated for non-valid claims.

 

Sorry, I just don't believe you. Something like that would likely be against the Short Term Insurance Law

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What I would like to know is where do these insurance claim bikes end up? On my old bike the fork, shocks, drivetrain, brakes and handlebars,stem etc were all OK. When I asked the guy who came to collect the bike he was quite vague and said they end up at auctions but couldnt tell me when or where!

 

Auctions for higher value stuff but normally for things under R50k or so they are sold for a small percentage of the insured value to the company contracted to do the collections of the damaged goods, ie the guy who collected your bike. That have yards full of broken sh1te and they sell the stuff as is to all and sundry , often people in the different industries buy the stuff for spares and repairs. I know a spot that did that, they got bikes in every now and then - saw a few carbon road bikes in 2 pieces...

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How can I upload a pdf... there are guys that specialise in going after the Outsurances of this world that dont pay out and they do it on the No win no charge basis. Win win for all...

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I have had a number of things insured. I always tried outsurance and I cannot see how they are cheaper. All the other companies I tried were cheaper except for a few.

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