Do you know what you are covered for / Cyclesure?

[Rata Del Spruit]

Have any of you actually read through the uploaded policy on the first page to see if I have interpreted it correctly?

 

Yes, I gave it a read and I think you can still argue this with them. The bike was on your property while you were present so it wasn't accessible to the general public (legally) and it wasn't technically unattended.

 

These companies fight a war of attrition but you've done 24 hour races, you can outlast them.

[LOSMEICHERIE]

i would like to hear what cycleUNsure have to say to the hubbers , majority of cyclist are on thehub and have read this post... if you dont pay Carpet you are going to loose all of us who have an insurance with you and those who were thinking of insuring their bikes with because there is no point of insuring our bikes with you.

 

cycleUNsure we wanna hear your comment ... we know you know we talking bad things about you.

[i24]

I self insure. It has some benefits:

 

- All risks covered

- Absolutely no exclusions

- No paperwork and no call centres

- No problems if you forget to renew

- Guaranteed settlement within one working day

- Total flexibility as to where/how you chose to repair or replace your loss.

 

There is just one drawback. The excess payable is equal to the total amount insured!

 

Seriously, insurance is designed to compensate you for losses that you cannot absorb, like your home burning down while you still have 10 years left to pay off on your bond. If you spend more on your cycle than you can afford to "absorb" in a loss situation, you are probably over extended.

 

The is a huge overhead associated with insurance. Your premiums have to cover the salaries all of those brokers, the underwriters who write those exclusion terms and the call centre operators. Then they have to cover all of the fraudulent claims before there is a single rand available for compensating someone who has suffered a loss. On top of that you have to add the costs of your own time for reading fine print, negotiating terms and fighting when you have a claim.

 

And, as this thread has shown, the "peace of mind" that you actually signed up for may turn out to be a major disappointment on top of the stress of the loss that lead to the claim in the first place. If you self insure, you ride to enjoy your bike today, just in case you no longer own it tomorrow!

[LOSMEICHERIE]

i would like to hear what cycleUNsure have to say to the hubbers , majority of cyclist are on thehub and have read this post... if you dont pay Carpet you are going to loose all of us who have an insurance with you and those who were thinking of insuring their bikes with because there is no point of insuring our bikes with you.

 

cycleUNsure we wanna hear your comment ... we know you know we talking bad things about you.

[rouxtjie]

i would like to hear what cycleUNsure have to say to the hubbers , majority of cyclist are on thehub and have read this post... if you dont pay Carpet you are going to loose all of us who have an insurance with you and those who were thinking of insuring their bikes with because there is no point of insuring our bikes with you.

 

cycleUNsure we wanna hear your comment ... we know you know we talking bad things about you.

Like I said before, the lack of response on their behalf just cements what everyone is thinking

 

They are hemorrhaging cancellations here...just start from post 1 to now and see how many potential clients they have lost, and current clients cancelling.

 

It won't go away cyclesure....dont be an ostrich that puts its head in the sand. Please comment, we are giving you an opportunity to:

 

A. Do the right thing by carpet

B. Restore confidence in your brand.

 

Surely you can see that as the biggest local cycling community forum your reputation here could make or break you since you are playing in a very niche market.

 

Waiting patiently

[Guest Karma]

Like I said before, the lack of response on their behalf just cements what everyone is thinking

 

They are hemorrhaging cancellations here...just start from post 1 to know and see how many potential clients they have lost, and current clients cancelling.

 

It won't go away cyclesure....dont be an ostrich that puts its head in the sand. Please comment, we are giving you an opportunity to:

 

A. Do the right thing by carpet

B. Restore confidence in your brand.

 

Surely you can see that as the biggest local cycling community forum your reputation here could make or break you since you are playing in a very niche market.

 

Waiting patiently

 

Stoot hulle pale om.

[rouxtjie]

Stoot hulle pale om.

Bel daai mense....paal KA4324...

 

EK GAAN JULLE GOED BREEEEEEK....BEL HULLE!!!

[Meezo]

Carpet, thank you for this.

Will be cancelling and referring them to this thread.

 

I am just scared that they won't pay out should I be mugged while riding, because the bike wasn't locked.

 

I've just mailed them and sent the link. The person I'm dealing with said she'll pass on to her manager

[davetapson]

Just cancelled my policy.

 

Been meaning to for months (years?) since I read the exclusions and realised that what I wanted to be insured for (e.g. bike in bike parks at stage races) wouldn't be covered.

 

Also, that if you do whatever it takes to match the exclusions, you in all likelihood don't need the insurance anyway.

 

Edit: Over the life of the policy I've probably nearly paid of the original cost of my bike. If I had put that money into my bond instead, I'd have the cash to just about buy a new bike.

[rouxtjie]

Just cancelled my policy.

 

Been meaning to for months (years?) since I read the exclusions and realised that what I wanted to be insured for (e.g. bike in bike parks at stage races) wouldn't be covered.

 

Also, that if you do whatever it takes to match the exclusions, you in all likelihood don't need the insurance anyway.

Ping ping ping Cyclesure.....hellooooooooooooooo

 

HEMORRHAGING.....

['Dale]

Not much sure about cyclesure.

Sorry to hear, Carpet!

 

I've got an all risk thing with my insurance. Pay a bit more, but peace of mind.

[Meezo]

I am still in two minds who to change to. There seems to have been no response form a reliable and trustworthy company/broker. I do not wish to stay with them (cyclesure) and will give them my reasons why when I leave but I need to go somewhere that I will feel safe. Has anyone got a lead for me?

 

My brother is with MiWay, and I'm looking at going that way too.

 

 

[rouxtjie]

I am still in two minds who to change to. There seems to have been no response form a reliable and trustworthy company/broker. I do not wish to stay with them (cyclesure) and will give them my reasons why when I leave but I need to go somewhere that I will feel safe. Has anyone got a lead for me?

It seems getting a broker and going with someone that has a good rep ito treating the customer fairly is the way to go. Santam has come up several times in thread already.

[Patchelicious]

i would like to hear what cycleUNsure have to say to the hubbers , majority of cyclist are on thehub and have read this post... if you dont pay Carpet you are going to loose all of us who have an insurance with you and those who were thinking of insuring their bikes with because there is no point of insuring our bikes with you.

 

cycleUNsure we wanna hear your comment ... we know you know we talking bad things about you.

 

I sent this thread onto the guys at Hollard yesterday, and they have said they are "dealing" with it.... but would be good for them to come a utilize their right to respond here.... just saying.

[Spinnekop]

"Also made me think, if i followed every little piece of Cyclesure's fineprint the chances of the bike being stolen would be almost non existant anyway, so who needs insurance"

 

Agree on this.

 

My main concern and the ONLY reason why I have insurance is being jacked while riding.

 

But then.....what type of claim do you have then? How will it be determined if the bike was taken "violently" taken from me? If I say the jackers had a gun or a knife. Will this be sufficient?

 

All this said with one finger on the cancelling button.

[Brogue]

I self insure. It has some benefits:

 

The perceived benefits of self insurance are far outweighed by potential third party liability. Yes, you could probably replace your bike in the event of accident or theft, but can you cover the damage to the brand new Porche or Merc you smashed into, or the medical expenses of the pedestrian you injured?

 

A side wing mirror alone would set you back 50k, respraying a few body panels a lot more. Ambulances and hospitals cost a fortune. What about consequential damages? The ripple effect of an accident goes well beyond just replacing a 15k 2012 Silverback. I urge caution when considering shouldering the burden of self insurance.