Do you know what you are covered for / Cyclesure?

[Joe Low]

If this thread wakes you up to cycle insurance, then even more so you should take a look at your medical aid Ts&Cs.

 

That one doesnt get expensive quickly - it starts astronomical; or you cant pay and you dont get treated.

[Gen]

If this thread wakes you up to cycle insurance, then even more so you should take a look at your medical aid Ts&Cs.

 

That one doesnt get expensive quickly - it starts astronomical; or you cant pay and you dont get treated.

 

True.. I need to go read some fine print. We pay a lot for our bikes.

 

[Newboy]

I am a Cyclesure client (until the end of the month). This thread has been a eye opener for me. When I saw this I had a look at the T&C's and realized that the policy don't meet my requirements at all.

 

Hence I cancelled my policy with them this morning.

 

Thanks for the heads up.

[TAAHIRWP]

Okay, so requested Cyclesure's updated ammmended policy for which i would fall into..... MyWAY's bicycle insurance seems nice , just received a quote and looking good so far.

[TK-Sp3cialiSt]

As mentioned earlier in this thread, i use indwe risk (underwritten by orico in my case) and last year i had a hail damage claim and some minor household power surge issues. Touch wood no breakins etc as yet. But both of the claims were settled quickly and fairly with very little "work" my side. Might be worth giving them a call to check policy details and adding bikes seperately, really Should see the wording as well

[Garfield2010]

My friends wife lost her ring. She cannot recollect when and where it happens as she apparently takes it off a lot and plays with it (habit).

 

No payout.........

 

These companies will force us to lie and "create" forced entry next time anything "unforeseen happens". I know morally this is wrong but I have been paying insurance for 12 years without one single claim so when that day arrives they will pay me.

[mazambaan]

On second and third thoughts the Cyclesure / Hollard insurance sounds like marginally more complex insurance pyramid scheme where your (and many other peoples') money is taken under a set of conditions that offers you a reasonable chance of a payout in the event of a loss. These conditions are then changed unilaterally so that the chances of getting a payout for a loss diminish significantly. Guaranteed that the premium never reduces. Great business model and sure to make the great guy MD / MTB rider very wealthy.

 

But should actually be treated as any other pyramid scheme. Stay away.

[Captain Fastbastard Mayhem]

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.

 

I can tell you that some okes are Kaaaaaakking off re this. When in fact, if you do things properly, they should already be compliant.

[jaco369]

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

 

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

wahahahaha just made my day. k@@@k snaajs

[rouxtjie]

I can tell you that some okes are Kaaaaaakking off re this. When in fact, if you do things properly, they should already be compliant.

Exactly cpt....why should it be regulation to treat your client they way they deserve to be treated. If you look at some of the outcomes of TCF and carpet's case you can spot the gaping caverns.

 

"Outcome 1 requires that the fair treatment of customers must be central to the culture of a firm. The other five outcomes flow on from this and include that products and services are designed to meet the needs of identified customer groups and are targeted accordingly; that disclosures are clear and customers are kept appropriately informed at all stages of contracting; that advice is suitable and takes account of customer circumstances; that products perform as firms have led customers to expect; and lastly, that customers can reasonably change products, switch providers, claim or complain."

[Prince]

The focus of this thread seems to be the " theft" portion of the CycleSure policy. What's their

"crash" cover like?

[jaco369]

I can tell you that some okes are Kaaaaaakking off re this. When in fact, if you do things properly, they should already be compliant.

us in the banking side, this is being drilled into us like something else, customer first, TCF, CPA mother of all thats good.

 

the Independents must be shitting bricks

[nathrix]

The focus of this thread seems to be the " theft" portion of the CycleSure policy. What's their

"crash" cover like?

 

Good question.

 

The bike was recovered but it was damaged by the thieving baster honde, the frame cannot be used as it was damaged beyond repair, why don't Cyclesure, underwritten by Hollard, replace the frame at least. Apparently Hollard is the decision maker in the claim who say Yay or Nay.

[Tjokkits]

so my cyclesure premium is almost R2k, for 4 bikes. sure others are also significant. what of we all pool our premiums, set up our own rules (both accepting participants we need criteria and claims, but clear simple and transparent) and get somebody credible to manage, sure we should be better off?

[RossW]

As stated by some already. I am also with Mutual and Federal. I opted for this route after reading the fine print in contracts offered by the likes of Cyclesure.

 

I can't complain about costs. I have two bikes (replacement value ~ R45,000.00 with MF and pay a combined fee of approximately R330 per month. My excess is R250. It is a listed item and is covered for a plethora of events and incidents; including accident damage when my skills run out and theft from bike carrier (it must be locked with a cable lock though, the Thule cylinder lock is not an accepted locking mechanism).

[Tjokkits]

Good question.

 

The bike was recovered but it was damaged by the thieving baster honde, the frame cannot be used as it was damaged beyond repair, why don't Cyclesure who are underwritten by Hollard replace the frame at least. Apparently Hollard is the decision maker in the claim who say Yay or Nay.

 

makes me wonder, its no longer a theft claim surely? its accidental damage (assume daai domkoppe het dit nie aspris gedoen nie)? Carpet give them gears