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Am I being conned by my bike insurance company?


Saudiq

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Guys, I'm not entirely sure what the relevance of whether I saw it or not is? To answer the question though, I know it looks fairly easy from the bottom and one pic with the crank off but when you're looking from the side the hole is hidden by the crank.

 

Also, please bear in mind:

 

1. I've not said my insurance is wrong, I didn't come out blasting them for crappy service which is why I've purposefully left out details of the company. I've asked a question from fellow cyclist so that I can decide if this would've happened with an big/well established insurance company which means that whether I'm paying R1 or R300 the outcome would've been the same. Also, if there is any grounds for me to challenge this? 

 

2. I'm not trying to rip off my insurance and if they back this up this decision with logic, then I'll do what I need to do to get going again. 

see my post #92

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Guys, I'm not entirely sure what the relevance of whether I saw it or not is? To answer the question though, I know it looks fairly easy from the bottom and one pic with the crank off but when you're looking from the side the hole is hidden by the crank.

 

Also, please bear in mind:

 

1. I've not said my insurance is wrong, I didn't come out blasting them for crappy service which is why I've purposefully left out details of the company. I've asked a question from fellow cyclist so that I can decide if this would've happened with an big/well established insurance company which means that whether I'm paying R1 or R300 the outcome would've been the same. Also, if there is any grounds for me to challenge this?

 

2. I'm not trying to rip off my insurance and if they back this up this decision with logic, then I'll do what I need to do to get going again.

Dude don't take it personally, it's a Hub thing, by page 3 OP is usually getting flamed....
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See HBO's post above. He's my broker, I'm with Santam. In his opinion this would have been a claimable event on my policy.

Only if it was one event. From the photo's it looks more likely that it could have been caused over time, but again I'm no expert.

 

As mentioned before, get a second opinion and/or if the 2nd opinion confirms the first, then get a clear explanation (expert report, not just 2 or 3 sentences)  to support the "assumption" that the "chain suck" that happened once did or could have caused the damage.

 

If I understood the OP correct he said that they repudiate because the chain suck was caused by wear and tear/ lack of maintenance of the chainrings, without assessing/ inspecting the bike.

 

If this is true then there repudiation won't stand.

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Dude don't take it personally, it's a Hub thing, by page 3 OP is usually getting flamed....

hehe, he was getting flamed on page 1 already. Is that a new hub record :whistling:

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See HBO's post above. He's my broker, I'm with Santam. In his opinion this would have been a claimable event on my policy.

Damn! I was with santam before and now the words of my previous brokers has come back to haunt me! 

 

The overall outcome of this discussion then is I'm an idiot because:

 

1. For thinking a cheap insurance would be worth giving it a shot. I guess the age old saying 'If it sounds to good to be true, then it probably is' applies here

2. For changing to small blade under heavy load

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Hi All,

 

I have a question regarding bike insurance and whether what my insurance company has told me is valid or are they looking for an excuse not to pay. thats how they make their money

 

I recently noticed a fairly big hole  if you maintained your bike and washed it properly doubt you would word it that way,,,all my bikes I know each and every scratch at the bottom of my frame, close to the BB. I took it to my lbs and was told that the hole was caused by chain suck and that carbon frame has a crack in it. I've submitted my claim to my insurance and have been told that it's because 'my chain rings are worn' and if my bike was regularly serviced then this would have been avoidable and therefore they can't cover the claim.on what grounds are you claiming??

 

Now no assessment was done to actually validate whether my chain rings are worn (it sounds like the assessor went and checked on google what chain suck means) and I fairly recently had my cables replaced, front derailleur set, new chain so there is no mechanical fault as far as I'm concerned. I dropped the chain because of the type of intervals that I was doing which requires me to rapidly switch between big blade and small blade to simulate rapid changes in cadence when racing or on the mountain.anyone knows how that is going to end I also don't see it specified anywhere in my terms and conditions that in order for a claim to be valid on my bicycle I need to take it for regular services or that my chain rings have to be mechanically functional????again insurance will by nature of the business look for reasons not to pay, 

 

This is new insurance company that has offered unbelievable value clearly not which is why I switched, so the question now is, have I been suckered into paying for cheap insurance or is what they are saying valid?personally i cant see why they should pay  That I have no leg to stand on and no insurance company will cover this?? if you are honest and you tell any insurance company what happened i dont see any insurance company paying

 

 

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Damn! I was with santam before and now the words of my previous brokers has come back to haunt me!

 

The overall outcome of this discussion then is I'm an idiot because:

 

1. For thinking a cheap insurance would be worth giving it a shot. I guess the age old saying 'If it sounds to good to be true, then it probably is' applies here

2. For changing to small blade under heavy load

To be fair, I don't think anyone has called you an idiot. Just the way you reported/found the crack seemed strange to some.

 

I personally tried to offer advice for future claims.

 

 

Sent from my iPhone using Tapatalk

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I don't get why you would drop a gear like that during intervals. But the Neanderthal in you managed to damage that frame really badly.

Alas, all is not lost, take it to someone like BogusOne or the kayak carbon guys to have it repaired for you.

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To be fair, I don't think anyone has called you an idiot. Just the way you reported/found the crack seemed strange to some.

 

I personally tried to offer advice for future claims.

 

 

Sent from my iPhone using Tapatalk

Self declared idiot/Neanderthal:)

 

I've certainly learnt from you guys. Some lessons are costly but lessons nonetheless. To quote my Dad, "Dis skool geld"

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Not true, well not all insurers though.

Absolutely!!

 

People who say "Insurers make money by not paying claims" are very incorrect and uninformed.

 

Insurers who "look" for ways to not pay claims, bleed customers very quickly. Acquiring new insurance customers is a massively expensive exersuce. This is way people like OutSurance will pay you R800 just to quote with a smile on their face. Cost of acquisition often runs into the thousands! So keeping a client is WAY cheaper. This is why insurers will often pay claims that they don't necessarily need to.

 

Insurance companies make money from pricing their policies accurately and then managing their risks. Claim repudiation is not a profit strategy from the major traditional insurers that I have dealt with ( I cannot speak on behalf of the direct guys though). This is not an opinion, I am stating it as fact.

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Absolutely!!

 

People who say "Insurers make money by not paying claims" are very incorrect and uninformed.

 

Insurers who "look" for ways to not pay claims, bleed customers very quickly. Acquiring new insurance customers is a massively expensive exersuce. This is way people like OutSurance will pay you R800 just to quote with a smile on their face. Cost of acquisition often runs into the thousands! So keeping a client is WAY cheaper. This is why insurers will often pay claims that they don't necessarily need to.

 

Insurance companies make money from pricing their policies accurately and then managing their risks. Claim repudiation is not a profit strategy from the major traditional insurers that I have dealt with ( I cannot speak on behalf of the direct guys though). This is not an opinion, I am stating it as fact.

 

 

People who say "Insurers make money by not paying claims" are very incorrect and uninformed

 

humble apologies

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Absolutely!!

 

People who say "Insurers make money by not paying claims" are very incorrect and uninformed.

 

Insurers who "look" for ways to not pay claims, bleed customers very quickly. Acquiring new insurance customers is a massively expensive exersuce. This is way people like OutSurance will pay you R800 just to quote with a smile on their face. Cost of acquisition often runs into the thousands! So keeping a client is WAY cheaper. This is why insurers will often pay claims that they don't necessarily need to.

 

Insurance companies make money from pricing their policies accurately and then managing their risks. Claim repudiation is not a profit strategy from the major traditional insurers that I have dealt with ( I cannot speak on behalf of the direct guys though). This is not an opinion, I am stating it as fact.

Absolutely spot on. The companies that I'm dealing with will ALLWAYS give the benefit of the doubt to the client if their is any doubt. They only repudiate a claim if they have solid legal ground and are 100% certain that the repudiation will stand in court or at the Ombud.

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