Do you know what you are covered for / Cyclesure?

[TALUS]

Not related to bikes directly but my insurers said that if I claim for theft while myself or my workers are at home- no forced entry needed. Makes sense to me. I did not ask whether I will have to be moered to claim though.

[Garfield2010]

Really the kicker here....changing said T&C's on the fly without proper communication isn't cricket.

 

Yes. Sorry I didn't read the whole post.

 

Its like Vodacom's capping system. I capped my 3G at 2gig. It didn't stop and I had to pay R2,000 extra. Their T&C's said they are not responsible for failure of their capping system. End of story

[rouxtjie]

Yes. Sorry I didn't read the whole post.

 

Its like Vodacom's capping system. I capped my 3G at 2gig. It didn't stop and I had to pay R2,000 extra. Their T&C's said they are not responsible for failure of their capping system. End of story

Unbelievable....

[Corvus]

One sentence...managing expectations through proper communication and acknowledgement or receipt. Would carpet have continued being their client if someone phoned her personally and explained every detail in the exclusions list, I don't think so....sending a mail out is simply not good enough.

 

Her expectations weren't met, and that is what she got sold

 

That's the thing. I think a cycle-specific or any other specific insurance needs to plainly and verbally state the terms and conditions. It's to easy for insurance companies to design loopholes into their awkwardly worded, legal jargon laden documentation that only a lawyer would understand.

 

And I think all insurance companies should stop using the term "all-risks" because it's misleading. I'm almost certain that's where insurance companies make their most money, because people pay high premiums thinking they're covered for every reasonably conceivable eventuality, when in fact, the exclusions cover such a wide range of eventualities.

[gasworx]

I havn't read the whole thread but sorry to hear Carpet, that's not cool!!!

My bike is insured with the Umbrella people for R35k through my broker & I pay R 215pm if i'm not mistaken??

Everything is covered no silly conditions & excess is R 100 from a brake lever to the whole bike being stolen

My New Eastons were also a bargain @ R100 after I folded the old wheels....

[Cruz Addict]

One sentence...managing expectations through proper communication and acknowledgement or receipt. Would carpet have continued being their client if someone phoned her personally and explained every detail in the exclusions list, I don't think so....sending a mail out is simply not good enough. Her expectations weren't met, and that is what she got sold

 

i hear you and agree completely but the fact is they did what is "acceptable" in the industry, i disagree with what has happened and believe someone should have had the conversation same as you i suspect, it doesnt change the fact that the documentation was sent, received and theoretically read( in a perfect world i know) as much as its a **** move on their part they have done due diligence.

[rouxtjie]

That's the thing. I think a cycle-specific or any other specific insurance needs to plainly and verbally state the terms and conditions. It's to easy for insurance companies to design loopholes into their awkwardly worded, legal jargon laden documentation that only a lawyer would understand.

 

And I think all insurance companies should stop using the term "all-risks" because it's misleading. I'm almost certain that's where insurance companies make their most money, because people pay high premiums thinking they're covered for every reasonably conceivable eventuality, when in fact, the exclusions cover such a wide range of eventualities.

If I could like this post a millions times...I would have

 

Well said!!

 

Leave the clever marketing ad's and comical plays like sending a gift wrapped bone to me when my dog ate my cellphone..

 

Send your call centre agents on training so that they understand the product

Make sure I understand where / when / conditions....I am unsured / where I am not

Phone me directly and speak to me...dont send me blanket emails with no receipt

[rouxtjie]

i hear you and agree completely but the fact is they did what is "acceptable" in the industry, i disagree with what has happened and believe someone should have had the conversation same as you i suspect, it doesnt change the fact that the documentation was sent, received and theoretically read( in a perfect world i know) as much as its a **** move on their part they have done due diligence.

right there is where the wheels come off...

 

It does seem like other insurers handle these cases better though

[TALUS]

The insurers must not get to the point were it becomes pointless to insure against the unpredictable. At that point were it becomes predictable is when selfinsurance becomes viable. Just saying.

[Garfield2010]

The insurers must not get to the point were it becomes pointless to insure against the unpredictable. At that point were it becomes predictable is when selfinsurance becomes viable. Just saying.

 

The problem with self insurance is what will happen if your car gets stolen or your house burns down or they break in and steal everything.

 

Will you be able to go away on holiday and enjoy it?

 

Self insurance is only an option if you start it out at age 18 if you ask me.

 

I drove my previous car for 10 years. I bought it new. When I made the calculation with compounding interest I paid more insurance for it than what I cost new.

[Joe Low]

 

I am sure he is, we have an issue with TCF and his company's interpretation of it.

 

Maybe the better question is why are so many people surprised....don't you think it has something to do with managing expectations. Again TCF...they didn't do it.

 

What's TCF?

 

 

[TALUS]

 

 

The problem with self insurance is what will happen if your car gets stolen or your house burns down or they break in and steal everything.

 

Will you be able to go away on holiday and enjoy it?

 

Self insurance is only an option if you start it out at age 18 if you ask me.

 

I drove my previous car for 10 years. I bought it new. When I made the calculation with compounding interest I paid more insurance for it than what I cost new.

Of course you are right. I am saying exactly that. They are there for the unforseen.

[rouxtjie]

What's TCF?

Treating Customers Fairly

 

http://www.moneyweb.co.za/moneyweb-south-africa/financial-services-firms-prepare-for-treat-custome

 

financial services industry will have to abide...it will become regulation.

[Sasquatch]

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

 

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

Dis paal KA3E

[rouxtjie]

Dis paal KA3E

wahahahhaha koot ek love daai clip..

[Brogue]

 

You sound like a true insurance salesman. I'm not, although I am involved in the insurance industry. Mitigating the risks of Preying on the smell of fear (said the spider to the fly) reality What if this.

What if that. When that happens.

 

I don't like living in fear of what MIGHT happen (then remove the brakes from your bike).

 

Fixed , to an extent

 

Steady there Spinnekop, ons gesels mos net You just described insurance, in a nutshell. "May/might/could". It's the fear of the unknown, it's tangible and quantifiable.

 

We all have a responsibility to check our contracts, not merely assume our claims claim will be honoured in all eventualities. The page dedicated to GENERAL EXCEPTIONS is key. If you have a broker, develop a relationship with them as you would with your LBS. Companies like OUTsurance say they save you cash by "taking out the middleman" but they don't say they're also taking out his valuable experience. Make him/her work for their commission, ask them to explain everything. Carpet's negative experience can, and should, be avoided.