madbradd Posted April 9, 2014 Posted April 9, 2014 Do you guys insure against damage (broken frame from crash, etc.) or only theft? Comprehensive. Basically insured unless I'm racing for money, or haven't locked it up (during transport or at home)
Caerus Posted April 9, 2014 Posted April 9, 2014 My 2 bikes are insured for theft from my house only, at the total price I paid for them (both are built up). My insurer has pictures and serial numbers included as part of the full inventory I update them on regularly. For R40k worth of bikes, I pay something like R45/month. I consider insurance prudent only for events completely outside of my control. Breaking a frame while riding doesn't fall in that category...Jeepers, please can I ask you send me a PM with your insurers details. I was looking into this yesterday. My bike is comprehensively insured. Included are my shoes, Garmin, Thule Euroway, Prescription Sunnies and its costing me R379/month. It is through Cyclesure.
madbradd Posted April 9, 2014 Posted April 9, 2014 What kind of premium would one pay for comprehensive cover on a R30k DS mountain bike? I think I'm being taken for ride (no pun intended). I think I pay around R80 for my 25k Anthem.
Joeboy69 Posted April 9, 2014 Posted April 9, 2014 Not insured. Quote around R500pm if I recall well for 2 bikes valued R75k total
Mackem Posted April 9, 2014 Posted April 9, 2014 I no longer insure my bikes - was just too expensive.
Cellar Posted April 9, 2014 Author Posted April 9, 2014 I no longer insure my bikes - was just too expensive. Exactly why I started this poll. Wouldn't it be more expensive to replace them if they were stolen? What about your car? Your phone and laptop and crap? I don't mean just you, but this confudles the heck out of me.
Cellar Posted April 9, 2014 Author Posted April 9, 2014 Quote around R500pm if I recall well for 2 bikes valued R75k total That seems reasonable.
Butterbean Posted April 9, 2014 Posted April 9, 2014 I take the hit because, once your bike is worth more than 5k, I couldn't replace it myself within a month... So I insure, and have already used it! Had to get my race wheels replaced after a bad road caused some damage... For me, the peace of mind knowing that if you happens on the bike, med aid covers me, and insurance, everything else... Too many variables onna road bike... Other riders, drivers, theft, bad roads, etc etc etc... For me, makes sense.. CleatsnCleavage and Cellar 2
Polo Posted April 9, 2014 Posted April 9, 2014 I think I pay around R80 for my 25k Anthem.That is exactly what I need (same bike). Who do you use?
Stretch Posted April 9, 2014 Posted April 9, 2014 (edited) Car is different. More risk of an accident.. I think a road bike is also more risk of an accident I think Cyclesure is expensive and it annoys me that my insurer uses them.. I would my bike simply insured from theft at home.. Everywhere else I keep a beady eye on it Edited April 9, 2014 by Stretch Goodbadugly and LazyTrailRider 2
Butterbean Posted April 9, 2014 Posted April 9, 2014 I use I-cycle and find them really good. I pay around 260 per month for a total insured value of about 50k. Have had a claim settled for race Wheelset, and did have a bit of run around, but it was settled and I love my cosmics! They also seem to have very few loopholes, cover you in rcaes and overseas, and this includes personal liability for quite a substantial amount... I couldn't find a major leg for them to stand on to deny a claim, considering most of the cycle insurance options.
Mackem Posted April 9, 2014 Posted April 9, 2014 Exactly why I started this poll. Wouldn't it be more expensive to replace them if they were stolen? What about your car? Your phone and laptop and crap? I don't mean just you, but this confudles the heck out of me. The way I look at it - I can only ride one bike at a time so theoretically only one will be damaged at a time. I ended up with Cyclesure that only covered me for one bike at a time, except for theft out of my home. My bike insurance was costing over R1k per month which I didn't think was worth it (my SS and retro bike as well as my sons Stumpjumper are not insured). There is more of a chance of crashing than getting the bike stolen. Even in a crash generally only a few items are damaged beyond repair and claiming through insurance you end up claiming for superficial scratches that do not necessarily warrant the part being replaced. I have only had one crash serious enough for a frame to be replaced in 6 years. My groupset on my Venge is a 10sp Red which is 3yrs old and it would be insured for the cost of a new groupset whereas in reality I would probably just replace the parts with something either 2nd hand or on sale. I also live in a secured complex which has a very low crime rate so the chances of me being broken into and all 3 bikes being stolen are exceptionally low. This is my rationale for not insuring my bikes.
Swart Kat Posted April 9, 2014 Posted April 9, 2014 All my insurance is with Mutaul & Federal, I would recomend these okes any day! Road bike and Mtb insured for R70k and I pay R321pm and never had any problems with them.
madbradd Posted April 9, 2014 Posted April 9, 2014 That is exactly what I need (same bike). Who do you use? Insured through a broker The Brokerage, and my underwriter is Echelon. Got my house, car, and everything through them. PM me for details.
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