Do you know what you are covered for / Cyclesure?

[marko35s]

Lastly, no insurance company will pay you out if (in this case a bike..) was stolen from the yard. There needs to be forcible entry to the property. Remember there is A LOT of fraud in the insurance industry!

 

Is this specific to bikes?

I have had claims pay out, for non cycling items, where there was no forced entry. Surely here are too many variables involved to just knock back every claim with no forced entry, I can think of various ways this can happen without them breaking something to get in and can also see this type of thing turning a normally honest person into a fraud as they try and make the crime appear to fit with the company's definition of stolen.

[Patchelicious]

Sounds like you working for SANTAM

But I must agree if I had to rate them AON , Alexander forbes then Santam Will not even look at any other insurer.

 

Aon and AlexForbes are brokers who SELL insurance products which includes Santam products.... along with M&F, Hollard and the rest....

[JohanC]

Johan, don't you think its because of their x, y and z clauses that fraud does exist...It seems you need the stars to align to get what you paid for out of them.

 

PS also with santam, and yes, you only know how good your insurer is when it comes to claim time, they haven't dropped me, thus I shall not drop them, eventhough they are more expensive than most. I get weekly calls from all the other insurance companies, and give the phone to my 3 yr old when I find out its them.

 

Agree!! I always advise clients to rather pay the extra "+ R100" a month and go/stick with Santam. This way, myself and the client have piece of mind that in the case of a claim, the process is 99% hassle free with them.

 

I currently have +15 insurers on my platform which I deal with (personal and commercial), and as I said on the above thread..Santam stay tops!

[Wez-O]

Generally I feel that insuring a bike as a specified item through a "large" (non-telephone) insurance company is the way to go.

Something like CIB, Mutual & Federal, or Hollard.

 

That said, I'm pretty sure that all of them will have the "forced entry" clause.

[mazambaan]

@marko; agree completely but it has emerged that because my take is that they are effectively Hollard agents, so they definitely don't push at all. They may even advise the insurance company who are effectively their partners how not to pay and receive a kickback.

 

I did try and follow up and this is more or less what came out. I was particularly mad as the same broker had advised that I did not need a business insurance to cover the computers etc as I effectively had a R50 000 "all risks" type cover in my home insurance. Specification was not mentioned. This was before the "Hollard association" and eventually the person I had dealt with happily for years more or less admitted that "she didn't make the rules".

[Wyatt Earp]

I will be moving, anyone with some good recommendations and are quite comprehensive with not too many little escape clauses ?

I have been with them for almost 9 years, claimed three or four times, never with a hiccup, but I want to prevent any hiccups in the future

[Stretch]

 

 

I keep saying this, get an independent broker....

 

I have an independent broker that I have been with for ever. I have had no issues with claims from them and my folks recently have had a claim and it was trouble free.....but......they only do cycle insurance through cyclesure and dont give any other options so essentially I have to go and find an alternative broker just to insure my bike....drives me nuts

[Patchelicious]

I have an independent broker that I have been with for ever. I have had no issues with claims from them and my folks recently have had a claim and it was trouble free.....but......they only do cycle insurance through cyclesure and dont give any other options so essentially I have to go and find an alternative broker just to insure my bike....drives me nuts

 

This will be the case sometimes, especially now with new regulations, like the binder regs. BUT these same regulations are there to prevent this exact problem as the OP. There are huge industry initiatives to prevent this, stuff like TCF etc will really help the average guys going forward.

 

Have two brokers then.... all I am saying is that I stay away from dealing directly with the people who need to manage their loss ratios, in other words the people who must pay the claim out of their pocket.

[DIPSLICK]

I will be moving, anyone with some good recommendations and are quite comprehensive with not too many little escape clauses ?

I have been with them for almost 9 years, claimed three or four times, never with a hiccup, but I want to prevent any hiccups in the future

wyatt i have read the policy, and i see gaps BUT YOU HAVE BEEN PAID OUT 3 OR 4 TIMES for a reason(claimed within the parameters of your policy obviously)

and another way of looking at it you have had 3 or 4 more claims succsefully handled thAN you can say for the next DEVIL YOU DONT KNOW ???????

JUST A THOUGHT

[Wyatt Earp]

wyatt i have read the policy, and i see gaps BUT YOU HAVE BEEN PAID OUT 3 OR 4 TIMES for a reason(claimed within the parameters of your policy obviously)

and another way of looking at it you have had 3 or 4 more claims succsefully handled thAN you can say for the next DEVIL YOU DONT KNOW ???????

JUST A THOUGHT

 

True, but that has been over 9 years and the last claim was before they included some Fort Knox security measures.

This "non violent" thing doesn't sit so lekker with me.

[DIPSLICK]

True, but that has been over 9 years and the last claim was before they included some Fort Knox security measures.

This "non violent" thing doesn't sit so lekker with me.

it sounds worse than it is(im not pushing this insurer i use MI WAY) NON VIOLENT means you not "giving it freely

if you are pushed,stopped, threatened then you are forced to give it over

[VroomSL]

Cyclesure is crap!!! They make you feel like you are trying to cheat them. Every cent gets calculated and they try to pay out nothing or as little as possible. Even their assessors have an attitude.

 

An insurer is suppose to help you in your time of need, and make it easy. Ultimately you pay them every month for that peace of mind. If you have to worry what and if they going to pay, then they not doing their job.

 

I've been with Mutual & Federal over 3 years and am impressed every time - they pay out within 2-3 days. They ask for a quote and explanation and pay out. They treat you like a valued client, not a thief. All my insurance is with MF , assets, business, cars, house. I claim very little, but am comfortable paying MF the extra premium, cos I know they will be there when I need it.

 

Once again Cyclesure is crap!!!

[dirtrider]

Cyclesure is crap!!! They make you feel like you are trying to cheat them. Every cent gets calculated and they try to pay out nothing or as little as possible. Even their assessors have an attitude.

 

An insurer is suppose to help you in your time of need, and make it easy. Ultimately you pay them every month for that peace of mind. If you have to worry what and if they going to pay, then they not doing their job.

 

I've been with Mutual & Federal over 3 years and am impressed every time - they pay out within 2-3 days. They ask for a quote and explanation and pay out. They treat you like a valued client, not a thief. All my insurance is with MF , assets, business, cars, house. I claim very little, but am comfortable paying MF the extra premium, cos I know they will be there when I need it.

 

Once again Cyclesure is crap!!!

 

If you want to see a bunch of thieves then M&F are the right place .

[Prince]

Ok so who is doing the research so we can do a bulk transfer and maybe get better rates and cover?

[Wheelsuck]

Had my run in with Fred at Cyclesure a couple of years ago, he accused me of fraud by claiming the bike was stolen. Bike was found in Mozambique by a fellow hubber. I paid R5k to get it back just to prove to him. Will not deal with them ever again.

[Wheelsuck]

Currently with Garrun Group, they are not cheap but don't give you crap.