Insurance: Specifying bicycles and other goods

[igg]

Does anyone here deal with Discovery short term insurance?

 

There's nothing under household contents that specifically excludes making a claim for something like a bicycle under household (assuming it's not specified under all-risks).

 

But under the section portable possessions, there's this nice clause:

"You must specify items listed in categories 11.1.2 to 11.1.13."

Thing is, there's some stuff (which I own) listed in those categories that aren't portable, or only get removed from my household very infrequently.

 

I think I'm in the market for a new policy...

[Captain Fastbastard Mayhem]

Does anyone here deal with Discovery short term insurance?

 

There's nothing under household contents that specifically excludes making a claim for something like a bicycle under household (assuming it's not specified under all-risks).

 

But under the section portable possessions, there's this nice clause:

"You must specify items listed in categories 11.1.2 to 11.1.13."

Thing is, there's some stuff (which I own) listed in those categories that aren't portable, or only get removed from my household very infrequently.

 

I think I'm in the market for a new policy...

what are those items?

And yeah, bicycles must be listed, in the case of Disco

[igg]

what are those items?

And yeah, bicycles must be listed, in the case of Disco

The one I have an issue with is the very general "computing equipment" section. I have a high-end desktop PC that hasn't left my house in 5 years, and is most definitely not portable. I know this is targeted at laptops/tablets, but the wording is sufficiently vague that they could repudiate a claim on the basis that it should be specified under all-risks. The other one is a rifle, it lives in a safe. On the very rare occasions that it goes to the range, I'd be happy to accept the risk.

 

I don't like spending R500pm insuring things that should be covered under household when they're inside my house.

 

My bikes are specified, since they leave my house regularly.

[Patchelicious]

The one I have an issue with is the very general "computing equipment" section. I have a high-end desktop PC that hasn't left my house in 5 years, and is most definitely not portable. I know this is targeted at laptops/tablets, but the wording is sufficiently vague that they could repudiate a claim on the basis that it should be specified under all-risks. The other one is a rifle, it lives in a safe. On the very rare occasions that it goes to the range, I'd be happy to accept the risk.

 

I don't like spending R500pm insuring things that should be covered under household when they're inside my house.

 

My bikes are specified, since they leave my house regularly.

If you have a high end computer, specify it.

A high end PC shouldn't be covered under your normal R200pm household policy and you know it. Also, seeing that's it's 5 years old, make sure you get an updated replacement quote before you specify it.

[igg]

If you have a high end computer, specify it.

A high end PC shouldn't be covered under your normal R200pm household policy and you know it. Also, seeing that's it's 5 years old, make sure you get an updated replacement quote before you specify it.

What about my low-end computer? And all my other PC tech? Where do you draw the line?

 

A R40k fridge is more portable than all my PC crap. Must an expensive TV also be specified? Again, it's more portable.

[Grebel]

To be sure, your broker is just a phonecall away. Give them a call and clarify. That's what you pay them for. There shouldn't be any guess work on your part.

 

Unless you choose to deal with a call centre... then you get what you deserve...

[Blue Monster]

I had my bicycle under my all risks part of my householders policy.  It was specified.  But the policy wording says it is covered for racing events, as long as there is no prize money.

Many road events offer prize money for the racing categories nowadays.

Broker said that it was best to specifically cover the bicycle, so that if it is damaged in an event, that it is covered. 

The broker did say that some of the events are covered under the standard all risks, but I would need to decide if I wanted to risk a repudiation in the event of a claim.

Would hate to have a major loss of my bike repudiated, as I would not be able to afford the replacement.

[HBO]

Does anyone here deal with Discovery short term insurance?

 

There's nothing under household contents that specifically excludes making a claim for something like a bicycle under household (assuming it's not specified under all-risks).

 

But under the section portable possessions, there's this nice clause:

"You must specify items listed in categories 11.1.2 to 11.1.13."

Thing is, there's some stuff (which I own) listed in those categories that aren't portable, or only get removed from my household very infrequently.

 

I think I'm in the market for a new policy...

I am a broker and deal with Discovery as well. Household contents and All Risk section are 2 total different sections. Those clauses you refer to just describe the item if it is specified. It says what is considered as a computer, pedal cycle, fire arm etc.

 

please look at clause 11.1 "What Can Be Insured"- look at the highlighted part "...that you take out of your building".

Compare this with clause 9.1 under the Household Contents section and also take a look at 9.6- "What is not Covered"

If it is not specifically excluded, then it is included. period.

 

just make sure that the insured amount is adequate. I Trust this will give you some peace of mind.

 

you're welcome to pm me if you want some more clarity.

[HBO]

I had my bicycle under my all risks part of my householders policy.  It was specified.  But the policy wording says it is covered for racing events, as long as there is no prize money.

Many road events offer prize money for the racing categories nowadays.

Broker said that it was best to specifically cover the bicycle, so that if it is damaged in an event, that it is covered. 

The broker did say that some of the events are covered under the standard all risks, but I would need to decide if I wanted to risk a repudiation in the event of a claim.

Would hate to have a major loss of my bike repudiated, as I would not be able to afford the replacement.

The only exclusion would be if you use it for professional use. If you do win a prize as an amateur, it doesn't make you a pro.

 

Once again, look at the policy wording. I can't think that an insurer would cover certain events under standard all risk and certain events not. If so, it must be listed in the policy wording.

 

For cover of your bicycle outside the house it must be specified under the all risk section. period. Unless the value is less than R 1 000.00.

[igg]

I am a broker and deal with Discovery as well. Household contents and All Risk section are 2 total different sections. Those clauses you refer to just describe the item if it is specified. It says what is considered as a computer, pedal cycle, fire arm etc.

 

please look at clause 11.1 "What Can Be Insured"- look at the highlighted part "...that you take out of your building".

Compare this with clause 9.1 under the Household Contents section and also take a look at 9.6- "What is not Covered"

If it is not specifically excluded, then it is included. period.

 

just make sure that the insured amount is adequate. I Trust this will give you some peace of mind.

 

you're welcome to pm me if you want some more clarity.

Thank you! This is the clarity I was hoping for, as it was unclear to me if they could use the all-risks section wording to repudiate a household claim.

 

I put together an asset inventory over the weekend, so I'll be adjusting my household contents correctly. It was pretty close already though.

[HBO]

If you have a high end computer, specify it.

A high end PC shouldn't be covered under your normal R200pm household policy and you know it. Also, seeing that's it's 5 years old, make sure you get an updated replacement quote before you specify it.

Some insurance companies/ UMA's have a separate section for computers irrespective of whether its a desktop or laptop or inside or outside the house.

 

This is not the case with Discovery and any computer, irrespective of its value is covered under the contents section.   

[KarlvN]

I insured with Budget Insurance for many hassle free years. Then I bought a new VW Polo and got a better comprehensive quote from MiWay back then (2010) I had JUST finished paying off my Mazda Etude Sportwagon and decided to rather go with MiWay, as they were about R400 cheaper than Budget. Upon cancelling the original insurance, Budget said they would meet the price of Miway. I asked my wife to then deal with insuring the new car under the existing policy in order to receive the car from the dealer.

 

Long story short...2 months later I had an accident with the Mazda, upon which Budget recovered the car, and then informed me that I have no claim, as the Mazda was now only insured as Third Party. After a loooong and protracted fight, which I eventually gave up on, I changed to brokered insurance with Santam.

 

^{I WILL NEVER USE AUTO AND GENERAL AGAIN, EVER!!!}

 

Even if I am paying more for my current insurance.