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Bicycle Insurance


AdriaanT

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Hi guys.

 

I have trolled this thread, and a question to ask.

 

I am looking to change from outsurance to Cycle Sure.

Must say, had a claim on outsurance for a frame and went flawless.

 

Just asking who here had procecced a CLAIM from Cycle Sure?

I know all the limitations, excess payments and exclusions, but would like to know how easy the claim process was?

 

Did you have to jump over the moon and through 1000 hoops?

Was it many ifs ands and buts?

Testing, checking and wanting many explanations?

 

Or was it straight forward as supposed to be and made to sound?

 

Hope to hear from someone who had a claim with cycle Sure.

 

Cherio

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... so time to stir the pot a bit.

 

Whats the average going rate for

 

R50 000

R100 000

 

for a 40yr old in Jhb for bike cover. 

 

and please don't respond with depends, just comment, if you in that age, and have a bike approx that value... please post a R xxx /10000 that you paying.

 

G

Hey G

 

I have just joined with discovery and have given car/house/ etc and I am paying R320 for bike  premium for 70K Cover, haven't claimed yet but i am covered for total loss/theft/races/ crashes etc 

 

hope this helps

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Hey G

 

I have just joined with discovery and have given car/house/ etc and I am paying R320 for bike  premium for 70K Cover, haven't claimed yet but i am covered for total loss/theft/races/ crashes etc 

 

hope this helps

5.5%, seems in the ball park.

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Hi guys.

 

I have trolled this thread, and a question to ask.

 

I am looking to change from outsurance to Cycle Sure.

Must say, had a claim on outsurance for a frame and went flawless.

 

Just asking who here had procecced a CLAIM from Cycle Sure?

I know all the limitations, excess payments and exclusions, but would like to know how easy the claim process was?

 

Did you have to jump over the moon and through 1000 hoops?

Was it many ifs ands and buts?

Testing, checking and wanting many explanations?

 

Or was it straight forward as supposed to be and made to sound?

 

Hope to hear from someone who had a claim with cycle Sure.

 

Cherio

I've had to make 2 claims in 3 months from cyclesure. The first one went through without issue, with the 2nd one I had to up the security at home, ultimately it was up to the assessor. At least each replacement was a bit of an upgrade from the last, but losing your baby is still heartbreaking :(

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Hi guys

 

Anyone with a claim experience from Cycle Sure here?

 

I claimed after an accident for a set of brakes, new grips and bib shorts and shirt. Longest wait came from my side as it was between the long weekends in april and I couldn't get to my lbs quick enough. 

 

After the LBS assessed it took maybe 3 days before everything was approved.

 

They are super professional and quick to provide feedback

Edited by Jurgens Smit
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Hey G

 

I have just joined with discovery and have given car/house/ etc and I am paying R320 for bike  premium for 70K Cover, haven't claimed yet but i am covered for total loss/theft/races/ crashes etc 

 

hope this helps

Its just the R5k excess that hits you with Disco when you have to replace a 20K frame and you need to pay 1/4 of it :P 

 

Full bike write off's they are ok. They will repair though unless you kick up a fuss and remind them about your frame warranty no longer being valid.

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I claimed after an accident for a set of brakes, new grips and bib shorts and shirt. Longest wait came from my side as it was between the long weekends in april and I couldn't get to my lbs quick enough. 

 

After the LBS assessed it took maybe 3 days before everything was approved.

 

They are super professional and quick to provide feedback

Thats sounds good.

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Hi guys.

 

I have trolled this thread, and a question to ask.

 

I am looking to change from outsurance to Cycle Sure.

Must say, had a claim on outsurance for a frame and went flawless.

 

Just asking who here had procecced a CLAIM from Cycle Sure?

I know all the limitations, excess payments and exclusions, but would like to know how easy the claim process was?

 

Did you have to jump over the moon and through 1000 hoops?

Was it many ifs ands and buts?

Testing, checking and wanting many explanations?

 

Or was it straight forward as supposed to be and made to sound?

 

Hope to hear from someone who had a claim with cycle Sure.

 

Cherio

As a broker, I have a small agency with Cycle Sure, so only had to deal with a couple of claims with them but they were on the ball and resolved them efficiently.

 

But... like all insurance, read the policy t's & c's...  If you don't comply with the policy conditions, then you will have issues. For example:

They apply average, so if you underinsure your bike, your payout for a partial loss will be reduced by the proportion of underinsurance.

The theft conditions are quite onerous compared to other All Risks sections of other insurers, so make sure the bike is locked up as per the policy requirements.

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As a broker, I have a small agency with Cycle Sure, so only had to deal with a couple of claims with them but they were on the ball and resolved them efficiently.

 

But... like all insurance, read the policy t's & c's...  If you don't comply with the policy conditions, then you will have issues. For example:

They apply average, so if you underinsure your bike, your payout for a partial loss will be reduced by the proportion of underinsurance.

The theft conditions are quite onerous compared to other All Risks sections of other insurers, so make sure the bike is locked up as per the policy requirements.

 

Super dooper important, people often throw their toys come claim time because of this. 

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  • 1 month later...

Hi guys

 

Did a quick scan through the thread.

 

Which insurance company would you suggest with the main interest being insurance for theft based claims. I ride steel and alu so the odds of a write-off during a crash is less likely than on plastic. However theft & hi-jacking (specifically during rides and traveling) is a major issue for me.

 

*Addition: possibility of a fork giving in should also be considered, forgot that part is plastic.

Edited by Letum911
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To my knowledge, you don't currently have selected risks/perils on bike insurance. You are most likely covered for theft and damage without the option of deselecting one, no matter which insurer you choose. (I it's under your normal Personal Lines policy you'd need to specify the bike, you'll then probably be covered for loss or damage to.... With some exclusions like racing, visible damage to locks, etc)

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Super dooper important, people often throw their toys come claim time because of this. 

 I was one that totally threw Toys out of my cot... But i was NOT insured for the " REPLACEMENT VALUE " of the bike ... 

 

Since i corrected that , I have nothing but praise for Cyclesure - Awesome to deal with and on the ball sorting out Claims

 

Paying about R400 on 70K cover , plus extras (PM ,Garmin , Oackleys etc) 

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Am I missing some thing ?

 

Paying R480 pm for 60k cover (55k bike 5k gopro)

 

Is it because it's A spaz ?

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Am I missing some thing ?

 

Paying R480 pm for 60k cover (55k bike 5k gopro)

 

Is it because it's A spaz ?

That's expensive, but often closely linked to your personal risk profile, do you also pay higher than normal premiums for other types of insurance. If you are young or claim alot you generally will pay much higher premiums. Also some insurers are stupid expensive for bike cover. I pay R180 pm with miway for around R45k cover.
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That's expensive, but often closely linked to your personal risk profile, do you also pay higher than normal premiums for other types of insurance. If you are young or claim alot you generally will pay much higher premiums. Also some insurers are stupid expensive for bike cover. I pay R180 pm with miway for around R45k cover.

20 year old , Bike is currently the only insurance I'm paying.

 

Have claimed once before , previous bike was on for 45k and premium was R260 same company 

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