Insurance: Specifying bicycles and other goods

[RocknRolla]

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

 

I have a name and number for a broker for you.

 

Best service I have ever received, ever.

[Surv0MTB]

Rule of thumb with any insurer, if you have expensive items,more than 5k, specify every single one of them.

 

The TV, the big fridge, computer, rings, bikes, sporting equipment.

 

Always some fine print in the policy docs about this stuff and generally thy insurer asks about these possible items and needing to be specified.

 

Ive just insured my bike, separately, just so I can store it in my garage without worry of it not being replaced if stolen. 

[Pooyan]

From my experience:

 

My dad’s bike stolen from his garage. Forceful Entry- Claim paid- Santam. (bike not specified)

 

My cell phone and kie stolen from my house.  Forceful Entry- Claim paid- Santam (cell phone not specified)

 

A Friends cell phone stolen from their house while they were asleep. Claim not paid. But I advised my friend to fight the ruling. In the end. Claim paid. Think it were Outsurance. (cell phone not specified)

[WR 1.0]

Rule of thumb with any insurer, if you have expensive items,more than 5k, specify every single one of them.

 

The TV, the big fridge, computer, rings, bikes, sporting equipment.

 

Always some fine print in the policy docs about this stuff and generally thy insurer asks about these possible items and needing to be specified.

 

Ive just insured my bike, separately, just so I can store it in my garage without worry of it not being replaced if stolen.

If your insurance company allows you to specify your TV and fridge when they stay in your house, they are taking your money for nothing.

Specified items are there to offer cover for items normally carried on you or away from home (example :cellphone, wedding ring, bicycle, and the like)

[Longbarn Killer]

I am with Santam. Their policy is very clear on bicycles. The policy states that bikes are automatically insured for R1000 unless specified separately.

 

There have been countless threads on insurance and one name keeps coming up over and over again as being the best out there and that is Santam. I think you should consider them too.o

[Captain Fastbastard Mayhem]

Myles will set you straight. 

 

 

 

 

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

Would love to, but I don't deal in short term insurance so I won't be able to help unfortunately. The Hub's short term ghuys are HBO and Patchelicious, as well as a couple of others I forget the names of. 

 

I have in my own experience seen / encountered the stance of not insuring mobile items unless they are specified, and then again I have seen instances where they are covered whilst IN the house when not specified. Depends on the insurer, as far as I know... But then again I make it a point to insure and specify as much as I can.

 

Good luck, Lefty... 

[cadenceblur]

Why would one need to specify TVs as mentioned earlier? Makes me wonder if I should specify my coffee equipment?

[Tony datoy]

Absolute BS, provided you are not under insured they should pay up. I'd ask them to direct me to the policy wording that states that the bicycle must be specified.

 

Refer the matter to the insurance ombudsman.

 

A friend of mine had two bicycles stolen from his garage, one was only a day old and the ombudsman overturned outinsu***** decision not to pay.

Neither of the two mtb' we're specified; they have now added a clause to his insurance schedule.

 

T

[Pikey]

I have a name and number for a broker for you.

 

Best service I have ever received, ever.

pse pm me your brokers details . Cheers

[Captain Fastbastard Mayhem]

Why would one need to specify TVs as mentioned earlier? Makes me wonder if I should specify my coffee equipment?

TV's, computers, laptops, sound systems etc are all NON MOBILE and therefore do not need to be specified as they make part of the home contents. 

 

Items that you can pick up and take with you (rings, watches, cellphones, bikes, sporting equipment) need to be specified, in most cases

[cadenceblur]

Thanks Myles. Suspected as such.

[Patchelicious]

Sorry to hear that you are in a bad situation.

 

Insurers are getting sticky about big items being claimed under Household, it messes with loss ratios.

 

I cannot give broker advice, but maybe post your policy wording and I'll have a look, or PM me.

[HBO]

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.

Unless bicycles are specifically excluded it is covered under household contents if stolen from the house irrespective of the value. The sum insured of the contents should be adequate enough otherwise they can apply average.

 

Have they send you a repudiation letter yet? In this they should set out the reason for repudiation, supported by a clause(s) in the policy wording. In other words if they argue that it must have been specified, they should quote the clause in you contract where it specifically states that bicycles/ pedal cycles are excluded.

 

You are welcome to pm me if you haven't come right yet. 

[HBO]

Sorry to hear that you are in a bad situation.

 

SOME Insurers are getting sticky about big items being claimed under Household, it messes with loss ratios.

 

I cannot give broker advice, but maybe post your policy wording and I'll have a look, or PM me.

corrected 

[HBO]

TV's, computers, laptops, sound systems etc are all NON MOBILE and therefore do not need to be specified as they make part of the home contents. 

 

Items that you can pick up and take with you (rings, watches, cellphones, bikes, sporting equipment) need to be specified, in most cases

Sorry Myles, not true. 

 

From a leading insurer's policy wording (where you are insured) an extract from the Contents section.

 

"Property Insured:

In this section, insured property is property that belongs to you or for which you are responsible as shown on the schedule.

It includes:

 -  Household contents

 -  personal property (including office and home industry equipment belonging to you in your private capacity)

 -  Fixtures and fittings that belong to you as the tenant, not the owner, of the private residence."

 

in other words everything that is in the house or any outbuildings is included as household contents, providing that the sum insured is adequate, UNLESS it is specifically excluded.

 

You only need to specify items for cover OUTSIDE of the house.

[Captain Fastbastard Mayhem]

Sorry Myles, not true. 

 

From a leading insurer's policy wording (where you are insured) an extract from the Contents section.

 

"Property Insured:

In this section, insured property is property that belongs to you or for which you are responsible as shown on the schedule.

It includes:

 -  Household contents

 -  personal property (including office and home industry equipment belonging to you in your private capacity)

 -  Fixtures and fittings that belong to you as the tenant, not the owner, of the private residence."

 

in other words everything that is in the house or any outbuildings is included as household contents, providing that the sum insured is adequate, UNLESS it is specifically excluded.

 

You only need to specify items for cover OUTSIDE of the house.

cool.