Do you have insurance on your bicycles?

[Warrior Princess]

I wish I had a bike to insure.

Currently bike-less, so any volunteers on the bike, I'll gladly pay the insurance

[Yusran]

I am guilty in that my bikes are not insured.

 

By all rights I should at least insure my pride and joy, as that is the one I have most concern for as I wouldn't be able to replace it in a hurry, while I have a bit less concern about my winter bike and mountain bike (don't get me wrong, I would be wrecked if anything happened to any one of my bikes).

 

I just have the idea and gut wrenching feeling that insurance is too expensive, and I would rather put those funds along the the rest of whatever doesn't get spent on the bikes into a savings account (I am new to the world things and responsibilities like insurance and medical aid) and if the day comes that those funds are needed they will be there, and if I don't need them well then... new parts and kit! To be honest, I have never looked into bike insurance even though I have always wanted to insure my bikes for theft at least.

 

I have spoken to guys in my favourite LBS's and they all advise, insure everything. I guess the next step is to just be proactive about it and do it. It still feels to me like I'm throwing cash down the drain though, that's not the logic, just the feeling. However, R45-R100/month insurance would be awesome.

[JohanC]

That's in line as Cellar says. Had a look now, would pay +-R479 at Cyclesure.

That seems reasonable.

[JohanC]

I work with Echelon Private Client Insurance as well. Underwritten by Echelon, Insurer: Santam.

 

Just some background: Echelon focus on Proffesionals, business owners and executives. They have a minimum criteria you need to comply with. (status, household contents min. R500 000, vehicle value: +R250 000)

 

They do offer excellent service!!

Insured through a broker The Brokerage, and my underwriter is Echelon. Got my house, car, and everything through them. PM me for details.

[T-Bob]

Echelon focus on Proffesionals, business owners and executives. They have a minimum criteria you need to comply with. (status, household contents min. R500 000, vehicle value: +R250 000)

 

wow, so despite owning my own house, 2 debit free businesses, 2 cars outright (navara and subaru) that are less than 5 years old. I'm not a professional and wouldn't be able to get my two wheel toy insured because my cars are (valued) at less than R250K?

 

Fair enough...

Edited April 10, 2014 by hellocolour

[Stretch]

wow, so despite owning my own house, 2 debit free businesses, 2 cars outright (navara and subaru) that are less than 5 years old. I'm not a professional and wouldn't be able to get my two wheel toy insured because my cars are (valued) at less than R250K?

 

Fair enough...

 

i think you misunderstood the punctuation in the comment you are quoting - you do not have to be all three...just one...which you are

 

"Echelon focus on Proffesionals, business owners and executives"

 

i think its stupid to have a car value stipulation - not all business owners or professionals have an ego that demands a vehicle valued at over 250k

[T-Bob]

i think you misunderstood the punctuation in the comment you are quoting - you do not have to be all three...just one...which you are

 

"Echelon focus on Proffesionals, business owners and executives"

 

i think its stupid to have a car value stipulation - not all business owners or professionals have an ego that demands a vehicle valued at over 250k

 

Clarification on that would be good as I'm actually looking about for new bike insurance. If I saw that on an insurers site I'd keep on looking as that is how it reads to me. Vehicle stipulations are a pointless exercise. I've just found out what my (soon to be ex) insurer 'values' my ute at and you couldn't even buy a corsa bakkie at their number.

Edited April 10, 2014 by hellocolour

[janfromnam]

Comprehensive insurance

70K Spez

394.00 per month

[Frosty]

Phoned to cancel my existing insurance after getting a saving of 33% with the new company. Bikes now R59/month versus R360/month and out of house items almost making up the rest of the savings.

 

The existing one had sent an increase re-rating letter and asked why I haven't "reviewed" my rates recently.

 

They then say due to being a low-risk, long term customer they can save me nearly 67% on my previous rate. Sorry, but I amend my policy on an annual basis and get told that "increased spare's prices" results in higher premiums. As much as I would like to pay 67% less, I hate the fact of being taken for a ride, only because I now want to cancel.