Do you know what you are covered for / Cyclesure?

[Stretch]

Hi Stretch.

 

With respect, this thread was posted on Monday, we were alerted to it via our Facebook page on Tuesday afternoon (we do use some other monitoring software but it that didn't pick this up this time) and we replied on Wednesday. Our response did take a few hours longer than we'd hoped, but there were numerous people here that had to give input. We're here now though! In future please feel free to get hold of us on Twitter, Facebook or by emailing ask@hollard.co.za.

 

Regards.

 

to the layman - the company under discussion here was Cyclesure - they have almost zero social media presence - something I would suggest that they sort out - as far as I can tell they certainly dont have a twitter account

 

and as for the response time - the point I was trying to raise is that cyclesure's sole business relies on satisfaction from cyclists - in this instance the three days that the, through their underwriters (being you), took to respond was, as you will discover, going to have a huge imapact on their reputation

[Barend de Arend]

The policy covers accidental damages and any damage due to a manufacturers fault will not be covered and must be claimed against the manufacturers warranty.

Way too vague? Who makes this call. Where is the experts credentials. This no longer makes it all risk now does it?

 

What about damage done to other components (or persons...) caused by a different component's manufacturer's fault?

 

What if the manufacturer says: "within tolerance" and disputes Hollard?

[Capricorn]

This thread has reopened an old wound when it comes to insurance, and now i'm wondering where all coverage gaps are with all the insurers. Could we crowd source some sleuthing into a typical clause from each insurer and then we quizz them on typical scenarios and later collate the results?

[JJDT]

I have followed this thread and the responses and in my opinion based on the questions from Rouxtjie below Hollard is doing damage control by re-opening the claim. If Carpet was clearly informed of the process foward she would not revert to asking her dad to intervine or come to the Hub and warn the cycling community of the pitfalls in the general cycle insurance.

 

@Hollard

 

Why did carpet then feel her claim was rejected?

Why did she feel desperate enough to rope her father in to fight on her behalf?

Why was her expectations not met, why was she surprised that her claim was rejected?

[rouxtjie]

This thread has reopened an old wound when it comes to insurance, and now i'm wondering where all coverage gaps are with all the insurers. Could we crowd source some sleuthing into a typical clause from each insurer and then we quizz them on typical scenarios and later collate the results?

Awesome idea

[Skylark]

Frame crack claims/damage to a part etc has to be as a result of an accident, ie took a tumble and bike got hammered oh cr4p frame is now cracked, wheels buckled Rd mangled.

They won't pay out for wear and tear/low quality frame/normal useage, ie was washing my bike and noticed a crack, oh sh1te how did that happen!?

 

[Meerkat82]

On my to-do-list this weekend is go through my insurance documents..... exciting stuff Whoop whoop... but definitely a must.

[Ranga]

I crashed my bike during a race and my claim was sorted out in less than three days.

I was very impressed to say the least. I commend you on that, but...

 

The situation that has unfolded on the Hub has left me undecided as to whether I look for a new company to insure my bikes with or stay with Cyclesure.

 

I, as well as others, were never aware that the policy stated that we had to be violently attacked if bike jacked should we wish to claim.

How on earth could an insurer ever write that into a policy in the first place. Basically what it's telling me is that my life is worth less than the value of my bike.

Nick has now stated that this clause is no longer the case.

 

I'm also in the same boat as Barend de Arend. My bike is left unattended during the washing process at times. I'm not a fan of watching things dry. As soon as it's done it gets put in a spare room for safe keeping.

 

Lets see what comes of this.

Hopefully something positive and not just a marketing ploy.

[BarHugger]

Just maybe NIC (Big Boss) will today be saying to Nick........

 

http://www.reactiongifs.com/r/ublwt.gif

[Hollard]

On my to-do-list this weekend is go through my insurance documents..... exciting stuff Whoop whoop... but definitely a must.

 

Being insurance nerds, we totally support that. It seriously is a good idea. Know what you're covered for, and speak to your broker or ask us about it.

[flymango]

On my to-do-list this weekend is go through my insurance documents..... exciting stuff Whoop whoop... but definitely a must.

 

Do it tonight! Ask Matt@admin what procrastination recently cost him after his Thule was stolen.

[Hollard]

Just maybe NIC (Big Boss) will today be saying to Nick........

 

http://www.reactiongifs.com/r/ublwt.gif

 

Dude... don't even. #holdingthumbs

[flymango]

And just a thought - rather have those highly paid actuarial scientists consider more realistic risk events as reasonably encountered on a daily basis by a growing cycling community and adjust the premiums accordingly. I personally would pay marginally more for less restrictive and more realistic exclusions. As matters stand, I may as well self insure (excluding third party and liability).

[Hollard]

I crashed my bike during a race and my claim was sorted out in less than three days.

I was very impressed to say the least. I commend you on that, but...

 

The situation that has unfolded on the Hub has left me undecided as to whether I look for a new company to insure my bikes with or stay with Cyclesure.

 

I, as well as others, were never aware that the policy stated that we had to be violently attacked if bike jacked should we wish to claim.

How on earth could an insurer ever write that into a policy in the first place. Basically what it's telling me is that my life is worth less than the value of my bike.

Nick has now stated that this clause is no longer the case.

 

I'm also in the same boat as Barend de Arend. My bike is left unattended during the washing process at times. I'm not a fan of watching things dry. As soon as it's done it gets put in a spare room for safe keeping.

 

Lets see what comes of this.

Hopefully something positive and not just a marketing ploy.

 

I am interested myself to find out more about this. (My personal understanding is that we acknowledge that a bike-jacking in itself is a violent act, so violent doesn't have to = physical harm. But please, that is just my personal understanding as someone who works in insurance. We will clarify officially later today.)

[Bloukrans]

Being insurance nerds, we're totally support that. It seriously is a good idea. Know what you're covered for, and speak to your broker or ask us about it.

Hi Nick, as per your previous post, what did you mean by the "best possible answer" statement? The best possible answer for the client or the insurance company? Just asking

[rouxtjie]

And just a thought - rather have those highly paid actuarial scientists consider more realistic risk events as reasonably encountered on a daily basis by a growing cycling community and adjust the premiums accordingly. I personally would pay marginally more for less restrictive and more realistic exclusions. As matters stand, I may as well self insure (excluding third party and liability).

Yahtzeeee. mango for the win

 

You see nick, we don't mind paying slightly more...look at woolies as easy example...sure they not as cheap as checkers but their quality is good. If you apply the same to the insurance game...

 

We are not after the cheapest quote or price...contrary to popular believe...we just want a good product, a product that won't "surprise" us when the chips are on the table..

 

The lala land of people locking up their bikes with 12 inch chains and SABS locks to their car roofs or their gates when they are washing it or transporting it is a pipe dream.