Santam bicycle insurance...Anyone here with them?

[Craigwt]

So I've had my bike insured with Santam under all risks for a while now. I was covered for everything, falls, scratches, ding, repairs whatever. I've even had a claim to replace a fork thats stanctions got scratched which went super smooth.

 

But recently I upgraded my bike which pushed the value to over 30k.. at this point Santam slapped on a R2500 compulsory excess. So if I need to claim for a repair, I pay the first R2500, which pretty much leaves me paying for most of the damages to my bike.

 

Does anyone here have their bike insured under all risks with Santam? do you also have this excess? Is your bike over or under 30k?

 

 

Need to start looking for new insurance now

[RockCoach]

How much are the premiums?

[ScottCM]

https://community.bikehub.co.za/topic/130602-best-cycling-insurance/

[RocknRolla]

I am with santam, need to check my policy docs for this.

Bike is insured for around 30k (less than)

[Pusher]

How much over R30k? Wouldn't it better/cheaper to insure in just below R30K?

[Help.Me.]

look at your claims history if that is high any insurance company will start up-ing the excess.

[Craigwt]

How much are the premiums?

Quite pricey R255..

 

I am with santam, need to check my policy docs for this.

Bike is insured for around 30k (less than)

They said to me it only applies to bikes over R30k, so you're safe, if you don't plan on upgrading

 

look at your claims history if that is high any insurance company will start up-ing the excess.

I have only had 2 claims, a few years ago they broke into our house, and this recent one where I claimed for the fork. So I hope that doesn't put me into a "high excess" category

 

How much over R30k? Wouldn't it better/cheaper to insure in just below R30K?

Yeah, I thought about that, but its quite a lot over 30K.

 

I nearly missed this R2500 excess clause... I would have been so pissed if I tried to claim and it only came up then!

[Help.Me.]

T i p e a r t i k e l : F i e t s R 25000 01/06/2013

Giant Anthem X3 29ER

Eerste bedrag betaalbaar :

10.0% van eis met minimum waarde van R1000.00

 

i am on a commercial policy (farm)

 

Premium R 208.33

Edited September 19, 2013 by Help.Me.

[whistler]

Yes, with Santam. My Shova is specified as all risk, insured for R20000.

 

Premium is R140.

 

Have not had a claim as yet, touch wood.

 

Excess is R100.

Edited September 19, 2013 by whistler

[Stoffel76]

It's not relating to your claims, it's purely about the value of the bike - those are just their underwriting rules on the domestic policy... (different rules apply to the commercial type policies)

[Guest DieBees]

So I've had my bike insured with Santam under all risks for a while now. I was covered for everything, falls, scratches, ding, repairs whatever. I've even had a claim to replace a fork thats stanctions got scratched which went super smooth.

 

But recently I upgraded my bike which pushed the value to over 30k.. at this point Santam slapped on a R2500 compulsory excess. So if I need to claim for a repair, I pay the first R2500, which pretty much leaves me paying for most of the damages to my bike.

 

Does anyone here have their bike insured under all risks with Santam? do you also have this excess? Is your bike over or under 30k?

 

 

Need to start looking for new insurance now

 

Cyclesure is tops!!

I have been with them for years! My bike is insured for 90k and access is only R500...

Have had a few claims... No hassle.

 

 

 

[Bub Marley]

R 2500 excess is quite normal for a bike over R 30,000.00. If you think about it logically, most parts you replace on a bike with that value would cost you more than R 2500.00. If you're still not happy with that, ask them if they can load the premium a bit more and drop the excess.

 

I'm a broker myself and I'm very much pro Santam. They're the best insurance company out there by a country mile. They don't hassle paying claims and you yourself have experienced that before. Honestly, I wouldn't move insurance companies if I were you. You might get less out of a claim but at least you know it will be covered.

[VroomSL]

Mutual and Federal - see below. Premium is the last amount.

 

Also no hassles when claiming

 

Excess: R 250

9627865 SPECIALIZED SL3 PEDAL CYCLE R 40 000 R 158.46

9627879 Specialized Sworks MTB Pedal Cycle R 32 000 R 129.52

[Bub Marley]

Mutual & Federal are excellent as well but you are gonna have to move your entire portfolio over though because they wont insure a bike on a stand alone policy.

[TBone7 WP]

Below R30k its R1000 excess and from R 30k upwards its 10% of the Value. I am with Santam and had a back wheel bust * They replaced Jocky,Chain,Cluster and both wheels with out any questions. had a Cracked Carbon frame which they also replaced.

 

I would say put your bike on for R 29k - trust me it will make a difference