What do they cover - Mi Way Bike Insurance

[livetoride]

A month before riding the Sani2C I had my bike undergo a major service.

One day after the race, I decided to take the bike again for a post service.

They discovered that my alloy frame was cracked and not repairable.

I notified My-way and submitted my claim. After one week was told that the frame had cracked due to "wear and tear" and this is a exclusion clause on the policy.

I now have disputed the rejection and await their response.

 

Overall I found their service very bad with people not having the slightest of idea of cycling. They are very quick to take payments but totally different story when it comes to paying out a claim.

 

I would suggest you know exactly what you are paying for and what is covered.

As for me I would not recommend miway (of should I say "Their-way).

[Jakkals.]

Have you taken this up with the frame manufacturer?

[Oxter]

As stated above, we would like to stress that there really are some powerful avenues for any insured to pursue in cases where they feel that an insurer has treated them unfairly. These include lodging a formal complaint with the insurer and then, if no satisfaction is obtained, contacting the Ombudsman for Short-term Insurance (www.osti.co.za)

 

As per Hollard reply on:

https://community.bikehub.co.za/topic/139736-do-you-know-what-you-are-covered-for-cyclesure/page__st__288

 

Lets see, maybe we can get Miway involved here as well

[MaXiMuM]

And another small print insurance company showing their colours...

 

Not a good day for them.

[Wannabe]

Had a claim with Outsurance when my 2nd hand alu frame broke the seatpost tube. Put in claim, LBS gave their evaluation / recommendation of cause of breakage, and 3 days later my claim was settled. So not all "budget" Insurance Companies are the same.

[Super Sywurm]

A month before riding the Sani2C I had my bike undergo a major service.

One day after the race, I decided to take the bike again for a post service.

They discovered that my alloy frame was cracked and not repairable.

I notified My-way and submitted my claim. After one week was told that the frame had cracked due to "wear and tear" and this is a exclusion clause on the policy.

I now have disputed the rejection and await their response.

 

Overall I found their service very bad with people not having the slightest of idea of cycling. They are very quick to take payments but totally different story when it comes to paying out a claim.

 

I would suggest you know exactly what you are paying for and what is covered.

As for me I would not recommend miway (of should I say "Their-way).

 

I know that you will be covered if you fall with the bike and the frame cracks.

[Gen]

Had a claim with Outsurance when my 2nd hand alu frame broke the seatpost tube. Put in claim, LBS gave their evaluation / recommendation of cause of breakage, and 3 days later my claim was settled. So not all "budget" Insurance Companies are the same.

 

We are also with Outsurance.. hubby broke his back derailer while riding and we decided to see if they would pay out..also had LBS send an evaluation and also 3 days later money paid over.

Edited May 29, 2014 by Gen

[Rata Del Spruit]

Had a claim with Outsurance when my 2nd hand alu frame broke the seatpost tube. Put in claim, LBS gave their evaluation / recommendation of cause of breakage, and 3 days later my claim was settled. So not all "budget" Insurance Companies are the same.

 

Had a claim with Outsurance after all our business equipment was stolen and they 'assessed' our claim for a week before paying out at the old price of the equipment. So we lost a week of income and lost a lot of money replacing all the computers and drives.

[ThePubSA]

Ombudsman is almost as bad as insurance companies and often go inline with their policies...... ..

 

With so many crooks in this country and people making false claims all over im not surprised insurance companies are suspicious.. but then the few of us who pay and hardly ever claim ,even just take the knock on the chin sometimes.. get screwed over on a legit claim..

 

Not sure there is a legit down for the client insurer... they will always despute if they can .. its like guilty before proven innocent...

 

Best Bicycle insurance for me unless shown otherwise will be..

i know this might take some filling if you got a 90k pina....( if you can afford a pina you wont need a jar) but im not buying even moderatley expensive bicycles anymore .

http://img4-3.realsimple.timeinc.net/images/1110/money-jar_300.jpg

Edited May 29, 2014 by 2Nutz

[Cruz Addict]

i am with miway and have had several claims all settled very quickly, damage caused by me doing stupid *** on the bike, wheels trued, dérailleurs replaced, tires even replaced on one occasion. the first few claims were sorted with only a report from the LBS however my last one from a cracked frame due to a bad landing had an assessor come and interview me about the incident, my bikes, how i ride everything.

he told me they have had to get clued up on all things cycling in order to make sure a 2k bike isnt being insured for 40k and claims being submitted for "upgrades".

 

all in all i am very please with them and the service i have recieved. personally i would have submitted the claim stating the damage occurred during the sani, most likely was and therefore falls into the damage due to use on a hectic race vs wear and tear.

just my humble 2000000000000000000000000000000000000000000000 zim dollars though.

Edited May 29, 2014 by DaddyG