KayJ Posted February 4, 2016 Posted February 4, 2016 I just got a new 2016 Giant trance 2, bought it for R29800. I asked Santam how much it would be insure it and they got back to me for R189 per month? Is this about par? Or would you suggest I shop around and get another quote and pit insurers against each other and try reduce it? Who else should I try?
Jamessolomon Posted February 4, 2016 Posted February 4, 2016 I would also like to know, I have my silverback insured for 22k and currently paying R132 a month, is that reasonable, based on what KayJ has said, seems about the same
Riaan H Posted February 4, 2016 Posted February 4, 2016 Outsurance is charging me R 93,41 for my wife's Scott (20k) and R 260,34 for my Spez (40k). Looks like Iam getting screwed on the Camber tbh.
Ferro Posted February 4, 2016 Posted February 4, 2016 KTM insured for 22k for R87 through A&G as part of existing policy. R850 excess.
Lurch the stalker Posted February 4, 2016 Posted February 4, 2016 There's a whole discussion around insurance here.In answer to the question, I have 3 bikes insured through Momentum paying a little under R700 a month.The two claims I have put in, one for a complete road bike and one for a wheelset on my Epic, were paid out in a couple days.For the ease and speed I am happy to pay what I do.Just make sure that if you shop around you are getting the exact same cover you're getting. Cheaper is definitely not always better with some things...
Patchelicious Posted February 4, 2016 Posted February 4, 2016 Chat to a broker to shop around for you. Its not always just about price, but also the cover that you get. This is what I currently pay for my various bits as a comparison. Look it is very good rates that took some negiations... but it is for full comprehensive cover. Scott RC900 Mountain Bike Sum insured R75,000 - Premium R146.59Unspecified items of clothing and personal effects Sum R20,000 - Premium R100.73Power Tap Carbon Wheels Sum Insured R30,000 - Premium R69.55Camagnolo Super Record components Sum Insured R40,000 Premium - R92.73Colnago C60 Road Frame Sum Insured R60,000 - Premium R139.092014 specialised epic expert carbon 29er Sum Insured R68,000 Premium R157.64 I cannot say it enough, chat to a broker it is worth the extra little of comm you pay.
RockSpider85 Posted February 4, 2016 Posted February 4, 2016 Also make sure that your bike is insured, in racing also. Most insurances dont insure your bike in races. We are with MiWay and my bike is insured for R38k and we pay R162p/m.
HBO Posted February 4, 2016 Posted February 4, 2016 Santam is one of the very few companies that gives you full All Risk cover. Most insurers don't offer cover when you have an accident while riding and/ or racing. you can also try Cyclesure. the premiums for both of you seems reasonable.
Captain Fastbastard Mayhem Posted February 4, 2016 Posted February 4, 2016 Drop HBO a message and he'll be able to assist you.
Lurch the stalker Posted February 4, 2016 Posted February 4, 2016 Santam is one of the very few companies that gives you full All Risk cover. Most insurers don't offer cover when you have an accident while riding and/ or racing. you can also try Cyclesure. the premiums for both of you seems reasonable.Mine with Momentum is all risk as well.
HBO Posted February 4, 2016 Posted February 4, 2016 Chat to a broker to shop around for you. Its not always just about price, but also the cover that you get. This is what I currently pay for my various bits as a comparison. Look it is very good rates that took some negiations... but it is for full comprehensive cover. Scott RC900 Mountain Bike Sum insured R75,000 - Premium R146.59Unspecified items of clothing and personal effects Sum R20,000 - Premium R100.73Power Tap Carbon Wheels Sum Insured R30,000 - Premium R69.55Camagnolo Super Record components Sum Insured R40,000 Premium - R92.73Colnago C60 Road Frame Sum Insured R60,000 - Premium R139.092014 specialised epic expert carbon 29er Sum Insured R68,000 Premium R157.64 I cannot say it enough, chat to a broker it is worth the extra little of comm you pay.Wow!! this is quite good rates. Maybe you should come and teach me some of your negotiation skills.
JohanC Posted February 4, 2016 Posted February 4, 2016 Wow!! this is quite good rates. Maybe you should come and teach me some of your negotiation skills. Chat to a broker to shop around for you. Its not always just about price, but also the cover that you get. This is what I currently pay for my various bits as a comparison. Look it is very good rates that took some negiations... but it is for full comprehensive cover. Scott RC900 Mountain Bike Sum insured R75,000 - Premium R146.59Unspecified items of clothing and personal effects Sum R20,000 - Premium R100.73Power Tap Carbon Wheels Sum Insured R30,000 - Premium R69.55Camagnolo Super Record components Sum Insured R40,000 Premium - R92.73Colnago C60 Road Frame Sum Insured R60,000 - Premium R139.092014 specialised epic expert carbon 29er Sum Insured R68,000 Premium R157.64 I cannot say it enough, chat to a broker it is worth the extra little of comm you pay. Agree, that is very good rates! Insurer?
JohanC Posted February 4, 2016 Posted February 4, 2016 I just got a new 2016 Giant trance 2, bought it for R29800. I asked Santam how much it would be insure it and they got back to me for R189 per month? Is this about par? Or would you suggest I shop around and get another quote and pit insurers against each other and try reduce it? Who else should I try? You don't have k@k with Santam at claim stage. That old saying "If you pay peanuts, you get monkey's"....
_freak_ Posted February 4, 2016 Posted February 4, 2016 this is what im getting at Alexander Forbes Pedal Cycles * Giant Ladies Specific R10,000 @ R73.15 * Giant Mens Dual Suspension Pedal Cycle R36,000 @ R210.66
Help.Me. Posted February 4, 2016 Posted February 4, 2016 Wow!! this is quite good rates. Maybe you should come and teach me some of your negotiation skills. + 1 !!! who is the underwriter/insurer?
Patchelicious Posted February 4, 2016 Posted February 4, 2016 As a guideline... most premiuns for this risk type are around the 4%-5% PA mark. So a R50k bike should be around (R50 000 x 5% /12) = R208 per month. Thats just a very rough guidline, obvioudly stuff like risk profile, location, cover type etc etc etc (many other factors) contribute too. If you are paying much less, ask yourself why and if you are paying a lot more, try and understand why.
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