Insurance: Specifying bicycles and other goods

[Lefty V]

I apologise if this has been covered in one of the numerous insurance threads.

 

My bicycle was stolen from my house recently and the claim was rejected since it was not specified. (I did not specify the bike since I judged the likelihood of it being stolen anywhere other than from our home to be low and I was under the impression that "special" goods like bicycles are still covered while it is secured in the house as part of the home contents.)

 

I am now told that items that have their own category (such as bikes) are not covered at all if they were not specified - not even in the home, or in a locked storeroom or garage etc. . Is this a common situation? I imagine that there are a number of other items in my home that also is not covered the way I thought and I am busy confirming what exactly is the situation.

 

What I would like to know from the insurance guys on here is if it is a common position that non-specified items are not covered at all?

 

I unfortunately do not trust feedback from the insurers since they started off rejecting the claim immediately  saying that there was no evidence of forced entry without actually looking into things like the alarm company and armed response records. When I disputed it they changed tack to this specified item reason.

 

 

PS. I am with Auto&General through Nedbank.... at least until I have done some homework and moved to someone who is as keen to help me get real cover as they are to bank my debit order. I also will insure my bike once I replace it, but I'll be damned if I pay that premium to this current crowd.

[RocknRolla]

Sounds like you did not read your policy document before you accepted the insurance.

 

It is common practice to not insure bicycles unless specified. What would you deem acceptable as a fair amount of cover for a "non-specified item" ?

 

How would the insurance company be able to determine the cost of the bicycle if it was not specified? Do you have receipts? Photo's of the bike, with all the components?

 

Like any contract you sign, you should read before you sign in order to understand what you are being insured for and what not.

 

Lets call this one school fees.

[Pure Savage]

I apologise if this has been covered in one of the numerous insurance threads.

 

My bicycle was stolen from my house recently and the claim was rejected since it was not specified. (I did not specify the bike since I judged the likelihood of it being stolen anywhere other than from our home to be low and I was under the impression that "special" goods like bicycles are still covered while it is secured in the house as part of the home contents.)

 

I am now told that items that have their own category (such as bikes) are not covered at all if they were not specified - not even in the home, or in a locked storeroom or garage etc. . Is this a common situation? I imagine that there are a number of other items in my home that also is not covered the way I thought and I am busy confirming what exactly is the situation.

 

What I would like to know from the insurance guys on here is if it is a common position that non-specified items are not covered at all?

 

I unfortunately do not trust feedback from the insurers since they started off rejecting the claim immediately  saying that there was no evidence of forced entry without actually looking into things like the alarm company and armed response records. When I disputed it they changed tack to this specified item reason.

 

 

PS. I am with Auto&General through Nedbank.... at least until I have done some homework and moved to someone who is as keen to help me get real cover as they are to bank my debit order. I also will insure my bike once I replace it, but I'll be damned if I pay that premium to this current crowd.

 

Myles will set you straight. 

 

But I have the feeling that you probably need to "specify" on the house hold contents that there is a bike. Same with watches and jewelry.

 

What if you have a R200k watch and its the only thing stolen...

 

[Lefty V]

Sounds like you did not read your policy document before you accepted the insurance.

 

It is common practice to not insure bicycles unless specified. What would you deem acceptable as a fair amount of cover for a "non-specified item" ?

 

How would the insurance company be able to determine the cost of the bicycle if it was not specified? Do you have receipts? Photo's of the bike, with all the components?

 

Like any contract you sign, you should read before you sign in order to understand what you are being insured for and what not.

 

Lets call this one school fees.

Yes, I am already calling it school fees, but I still have not learnt - I have the documents etc to substantiate ownership and value, photos etc,

 

My policy contract does not include any mention of what I must specify or how I must do this either.

 

Myles will set you straight. 

 

But I have the feeling that you probably need to "specify" on the house hold contents that there is a bike. Same with watches and jewelry.

 

What if you have a R200k watch and its the only thing stolen...

 

 

I thought that if I could prove that I actually had the watch (invoice etc.) and that my household cover was sufficient to cover my total home contents including such an extravagance that it should be fine. Otherwise one should specify everything of value down to the last item

[RocknRolla]

Did you insure through a broker?

 

If yes, and they were worth half the commision they make on your fees, they should have advised you on what items are not covered.

[WR 1.0]

You can try and argue that it is part of the HH (householders). However, if it was stolen from an outbuilding, A&G and most of the insurers require Visible Forced /Violent entry.

[EmptyB]

Does the policy state bicycles are not covered under household contents and what is the definition of HH contents on your policy?

[WR 1.0]

As mentioned above, you can try and argue that bicycles are not specifically excluded under the HH section. Or you can try and argue semantics as the All Risk section states "you may claim..... it doesn't state MUST".

I can't find a copy of the A&G wording but on the Budget Insurance wording (part of same company) it states:

We will indemnify you for:

Loss of or damage to the household goods and personal possessions that you and your family members who live with you have inside

your home or the outbuildings at the address on your schedule. This loss or damage must be caused by fire, lightning, power surge,

explosion, malicious damage, impact with your home and outbuildings (room(s) without direct access to your house), falling trees (but

not while they are being felled), earthquake, storm, flood, the bursting or overflowing of geysers, equipment or pipes, break-in and theft.

 

Bicycles are only mentioned under the All Risk Section:

 

3. Bicycles, prescription glasses, contact lenses and cellphones, but only if they are specified on your schedule.

[JBK]

This is why i use a broker - and he had a hard time with me. All policies require these items to be specified and this should have been explained to you. Only Hollard offer a relatively new policy, I think aimed at 'high income' groups where you do not need to specify anything.

 

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[Lefty V]

You can try and argue that it is part of the HH (householders). However, if it was stolen from an outbuilding, A&G and most of the insurers require Visible Forced /Violent entry.

Yeah that was their initial position - when I told them they could speak to the Armed guard that had to help me with the damaged gate so that I could go chasing after the perp in my car they decided to rather focus on the specified angle.

 

The wording is virtually identical. Semantics and me understanding it the way I thought makes sense at the time will not help, so I guess I know I am going to loose this one.

 

I however want to be sure I don't get in a similar situation with something else: Must I specify all portable items (eg. jewelry) in order for it to be covered inside the house??? - I don't mean have proof of ownership and value (which goes without saying), I mean pay extra premium for portable cover just to make sure that the insurance company have to acknowledge that while it is in the home it is part of the household contents sum that I insured.

[Bloukrans]

Yeah that was their initial position - when I told them they could speak to the Armed guard that had to help me with the damaged gate so that I could go chasing after the perp in my car they decided to rather focus on the specified angle.

 

The wording is virtually identical. Semantics and me understanding it the way I thought makes sense at the time will not help, so I guess I know I am going to loose this one.

 

I however want to be sure I don't get in a similar situation with something else: Must I specify all portable items (eg. jewelry) in order for it to be covered inside the house??? - I don't mean have proof of ownership and value (which goes without saying), I mean pay extra premium for portable cover just to make sure that the insurance company have to acknowledge that while it is in the home it is part of the household contents sum that I insured.

In that case, get a broker who understands insurance

[WR 1.0]

In short, generally, you need to specify stuff you usually take out of the house and want cover for. But it also depends on the Insurer.

[shaper]

The insurance company have told you that if you want future cover for such items you need to specify them, is common practice to specify.  My bikes, my laptop, my golf clubs, glasses etc are all specified under all risk.

 

If you choose not to do that because you feel you can save a few Rands here and there on a policy, do not be surprised if you do not get paid out in future.

 

I guarantee a broker will tell you exactly the same if you wish to cover such items under a household policy.  

 

Alternatively get a specific bike insurance cover.

 

As WR 1.0 says above, generally you need to specify.  Am sorry you had to learn the hard way by not specifying them first time

[Grebel]

It isn't realistically possible for an insurance company/broker to inform you of every possibility that may arise pertaining to your policy. HOWEVER, there are some things that should be noted such as all items that are portable and that are not covered by your unspecified all risks amount should be specified. Common sense should take care of the rest. 

 

I think that "household contents" pretty much sums it up though and anything else will be highlighted in your policy schedule.

 

Edit: If it is in your policy then it should be explained but covering EVERYTHING is a bit of a big ask....

 

Imagine your broker asking you if you own any of the following (and he proceeds to rattle off every piece of sporting, leisure, hobby equipment ever made.....) That could take a while......

[Lefty V]

Ok, thanks guys. I was not looking to save the last cents on the policy, I was looking for cover of items while they are in my home - It never occurred to me that if it is portable, it is not covered inside the home. Appreciate being put straight.

[Lefty V]

Myles will set you straight. 

 

 

Is Myles a broker ? Since I clearly need one who can set me straight