Do you know what you are covered for / Cyclesure?

[TALUS]

Yes I like this. If it was not stolen according to them then she "lent" them the bike. They crashed it. Now what?

[Garfield2010]

Here is another issue I have while we are at it...

 

Ok so insurance are mainly for when you travel and race or train. In other words when the bike is outside the house which makes sense. Inside it is covered by the "huisinhoud" as I understand from my broker.

 

Ok so here is the thing. Additional specialised cover is R600 per bike. This includes crash insurance but excluded in races.

 

Now my issue is I have to pay R1,800 per month for the three bikes. (Road / Mountain and TT)

 

My argument however is that I should only pay R600. Why? Because I only use one bike at any given time. I can only train or race with one at a time so as far as I am concerned the risk is the same? So why do I have to pay for three bikes when I only use one?

 

Does it make any sense?

 

Also I can only insure if I do it for one full year. I did consider insuring my MTB in the winter and my road bike in the summer but they wont allow that.

[mtbsmurf]

After many experiences similar to this, I have ended up not insuring anything (except me car). The one thing I have learned is to take better care of my belongings as I have no recourse. Stuff I cannot replace financially is in secure storage and the rest I have a rainy day fund for. Not sure if this is the solution either but does raise the awareness of being responsible.

[Captain Fastbastard Mayhem]

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

 

Some of them, yeah. But you just have to get your processes sorted. Like they should be doing now anyway. In actual fact, being independent actually helps, imo. You're not incentivised to provide one product over another, and if you do the analysis and recommendations PROPERLY, TCF is a non issue

[Brogue]

My claim was turned down as there was no signs of forced entry.

 

Carpet, based on your description the repudiation appears valid unfortunately.

 

I would suggest that you address a letter to CycleUninsure's head office executive department (not the claims handler) detailing your experience and requesting an EX-GRATIA consideration. This is a settlement made from a sense of moral obligation, rather than legal requirement.

 

Such a payment may or may not consist of part of or the entire amount of your loss. Explain that your bike meant everything, and how it's loss has devastated you. They will make a decision based inter-alia on your claims experience, length of time with them and their overarching corporate approach.

 

Remember "NO" is never absolute, it's just a test to see if you'll go away easily. Good luck.

[rouxtjie]

Carpet, based on your description the repudiation appears valid unfortunately.

 

I would suggest that you address a letter to CycleUninsure's head office executive department (not the claims handler) detailing your experience and requesting an EX-GRATIA consideration. This is a settlement made from a sense of moral obligation, rather than legal requirement.

 

Such a payment may or may not consist of part of or the entire amount of your loss. Explain that your bike meant everything, and how it's loss has devastated you. They will make a decision based inter-alia on your claims experience, length of time with them and their overarching corporate approach.

 

Remember "NO" is never absolute, it's just a test to see if you'll go away easily. Good luck.

I am sure carpet will be thankfull for this info brogue....but being happy with them giving her "krummels" leaves a bad taste in my mouth....you know..."thanks big insurance house...you too good to me". I hear what you are saying...it is an option you know, better than nothing and all of that.

 

The fund for her new bike via our members will reach its goal in a couple of days no doubt. She will be able to replace her bike shortly.

 

In the meantime, threads about which insurance house to use pops up regularly over here...it also pops up as a conversation every now and again with riding mates, out on the trails / roads. I wonder if their fancy risk actuaries can calculate what damage this has done to their company and brand. The wheel turns a bit quicker here on the hub...pun intended.

[Scott2luvit]

Here is another issue I have while we are at it...

 

Ok so insurance are mainly for when you travel and race or train. In other words when the bike is outside the house which makes sense. Inside it is covered by the "huisinhoud" as I understand from my broker.

 

Ok so here is the thing. Additional specialised cover is R600 per bike. This includes crash insurance but excluded in races.

 

Now my issue is I have to pay R1,800 per month for the three bikes. (Road / Mountain and TT)

 

My argument however is that I should only pay R600. Why? Because I only use one bike at any given time. I can only train or race with one at a time so as far as I am concerned the risk is the same? So why do I have to pay for three bikes when I only use one?

 

Does it make any sense?

 

Also I can only insure if I do it for one full year. I did consider insuring my MTB in the winter and my road bike in the summer but they wont allow that.

so while you are on one bike they steal the other two, but your only paying for the one your on at the moment, your argument does not make sense to me

[Rudi Pollard]

so while you are on one bike they steal the other two, but your only paying for the one your on at the moment, your argument does not make sense to me

 

The other two is covered under his home contents insurance... That is also only if he hasn't under insured his home contents.

 

I asked Discovery the same question regarding my MTB and Road bike, and they said that should I be bike jacked, they will only pay out if it is specified. So I cannot specify my MTB for R80k and theb claim for a road bike under that insurance. Paying for both, even if I only use one at a time...

[Brogue]

I am sure carpet will be thankfull for this info brogue....but being happy with them giving her "krummels" leaves a bad taste in my mouth....you know..."thanks big insurance house...you too good to me". I hear what you are saying...it is an option you know, better than nothing and all of that.

 

The fund for her new bike via our members will reach its goal in a couple of days no doubt. She will be able to replace her bike shortly.

 

I hear you chomma. My approach is use all avenues available. Beg, plead, cajole and if all else fails, eventually threaten. No harm, no foul. Better krummels in carpet's pocket, than in CycleUnInsure's coffers. Half a loaf is better than none after all. Don't let the insurer off the hook just yet, her chances of a EG payment are even. Carpet can use any additional funds to bling up her new steed appropriately.

[WR 1.0]

The other two is covered under his home contents insurance... That is also only if he hasn't under insured his home contents.

 

I asked Discovery the same question regarding my MTB and Road bike, and they said that should I be bike jacked, they will only pay out if it is specified. So I cannot specify my MTB for R80k and theb claim for a road bike under that insurance. Paying for both, even if I only use one at a time...

 

What happens when you are on your TT bike and lend a buddy your roadbike to ride with you and you get jacked and both bikes gets taken?

if you have only one specified, you'll only have cover for one because you are only paying a premium for one.

[Rudi Pollard]

What happens when you are on your TT bike and lend a buddy your roadbike to ride with you and you get jacked and both bikes gets taken?

if you have only one specified, you'll only have cover for one because you are only paying a premium for one.

 

Yip that is 100% correct. They will only pay out for the one that is specified, so if you have a TT bike and a road bike, and you only insure the TT bike because it is the more expensive one, they will never pay out for the road bike as you are not paying a premium for that bike...

[WR 1.0]

Yip that is 100% correct. They will only pay out for the one that is specified, so if you have a TT bike and a road bike, and you only insure the TT bike because it is the more expensive one, they will never pay out for the road bike as you are not paying a premium for that bike...

 

I know :-), it was more of a retoric question stating the outcome of his argument.

[Rata Del Spruit]

We've mailed CycleSure with the link to this thread as well as our proposal for the new signage on Gleneagles road. The damage that this is doing to their brand is huge. If they had any sense they'd resolve Carpet's claim amicably and start with the chore of restoring their credibility via some good PR and apologies on The Hub. let's see if they respond.

[Garfield2010]

so while you are on one bike they steal the other two, but your only paying for the one your on at the moment, your argument does not make sense to me

 

The other 2 is covered by household.

[Garfield2010]

What happens when you are on your TT bike and lend a buddy your roadbike to ride with you and you get jacked and both bikes gets taken?

if you have only one specified, you'll only have cover for one because you are only paying a premium for one.

 

Well I don't mind them specifying :-

 

1.) Only myself my ride my own bikes

2.) Only one bike is covered at any one stage

 

Seems they don't have problems specifying T&C's..........

[WR 1.0]

So you have 2 cars but you only want to insure one because you can only drive one at a time but want cover for both? Same principle.