Edereese Posted August 14, 2018 Share Our cars was with king price and moved over to discovery. Have a separate policy for my bicycle with them. Max value for R1 insurance is R50 000 per car you insure. My first claim was a very bad experience as they whole process felt like an interrogation. The claim was settled in full and the second claim was a breeze. The only reason I won’t go elsewhere is due to all values and information verified as the bike was bought second hand and a lot has gone into it. Thinking of moving the cars back to them and adding the families bicycles. If it’s a valid claim and you not trying to pull a fast 1, then king price is not to bad. If you looking at purchasing a bike, insure for 10 the value, and then claim for a brand new high specd machine, then king price is not for you as all their valuations go through Bruce reyneke cycles which I think is great on their side. Link to comment Share on other sites More sharing options...
Tony datoy Posted August 14, 2018 Share King price took 10 months to pay my daughter out for her car... Third party claim, nevertheless 10 months is a long time. Link to comment Share on other sites More sharing options...
Skylark Posted August 14, 2018 Share Say your bike is worth more than R50k will they still cover it with the R1 deal? And if so will they pro rata any pay out on that bike, ie just as an easy example bike worth R100k, R1 cover is for max R50k, under insured by 50%, hence with full loss only pay out R25k on the R100k bike? Link to comment Share on other sites More sharing options...
Butterbean Posted August 14, 2018 Share Say your bike is worth more than R50k will they still cover it with the R1 deal? And if so will they pro rata any pay out on that bike, ie just as an easy example bike worth R100k, R1 cover is for max R50k, under insured by 50%, hence with full loss only pay out R25k on the R100k bike?No, you can insure 50k worth for R1, and the excess value will be insured at normal rates. Link to comment Share on other sites More sharing options...
ABrooks Posted August 14, 2018 Share Quick thread hijack, what is typically considered a valid claim and what is not? I'm new to the whole bike insurance thing and I'm trying to get an idea of what people typically claim and what they can not claim. Link to comment Share on other sites More sharing options...
BaGearA Posted August 14, 2018 Share Quick thread hijack, what is typically considered a valid claim and what is not? I'm new to the whole bike insurance thing and I'm trying to get an idea of what people typically claim and what they can not claim.Valid claim :You fell and broke something on your bike that is very expensive ( say above 2k )Your bike gets stolen Someone accidentally drives over your bike ( trust me it happens) Invailid claim:You ask your buddy to drive over your bike cause you want A new oneYou make up an issue to try to claim for A new/better part Edited August 14, 2018 by BaGearA Link to comment Share on other sites More sharing options...
Patchelicious Posted August 14, 2018 Share Look, when something is priced very differently to everybody else, you need to ask why. That does not mean it is not legitimate. Insurance is massively regulated, so the need to pay in accordance with their policy wording. (just makes sure you understand it too) But it does make one wonder where they recoup this, is it a pure loss lead, or is it priced in somewhere else, or is it a pure penetrative pacing strategy to get volumes and then prices get readjusted when their is a captive audience, obviously accounting for elasticity. Regardless, its an interesting business. As always, when in doubt, chat to a broker! Link to comment Share on other sites More sharing options...
Patchelicious Posted August 14, 2018 Share Quick thread hijack, what is typically considered a valid claim and what is not? I'm new to the whole bike insurance thing and I'm trying to get an idea of what people typically claim and what they can not claim.This varies based on insurer and product. You policy schedule will be clear on what is covered and what is not. Link to comment Share on other sites More sharing options...
Edge_Design Posted August 14, 2018 Share one friend they screwed over with a claim on his car other friend had the R1 deal and they didn't pay outcause he had A different handlebar on than what he said when first insuring the bike ( handle bar was worth less than original bar and claim was not related to handlebar in any way ) I've heard other stories as well but have no way to confirm if they were legit or not If there was ever a story with 3 sides, this has to be it! Skylark and Cav' 2 Link to comment Share on other sites More sharing options...
Butterbean Posted August 14, 2018 Share Look, when something is priced very differently to everybody else, you need to ask why. That does not mean it is not legitimate. Insurance is massively regulated, so the need to pay in accordance with their policy wording. (just makes sure you understand it too) But it does make one wonder where they recoup this, is it a pure loss lead, or is it priced in somewhere else, or is it a pure penetrative pacing strategy to get volumes and then prices get readjusted when their is a captive audience, obviously accounting for elasticity. Regardless, its an interesting business. As always, when in doubt, chat to a broker!I couldn't stand them for the following reasons: One, the premiums on your car make the entire package only a few bucks less than anyone else, and if your bike or worth more than 50k, you're boned anyway... Second, they promise premiums that decrease monthly. Which they do. By around 5 rand a month... But then they have the gall to have a yearly premium increase which negates that tiny ass discount anyway... Thirdly, I had an employee under insure me by lying about the cover she gave, basically, to meet a quoted price they moved me from business use to only private, which was not correct. Anyway, I've moved to a broker, with no stupid schemes or gimmicks, pay a fair amount less than ol' king price, and have had to claim without any hassle. OH, and if anyone wants a laugh, call outsurance for a quote on your bike and listen while they say they'll beat your current premium... Then the crushing blow when it's literally 5 times more... Link to comment Share on other sites More sharing options...
Grease_Monkey Posted August 15, 2018 Share Wow... this thread has me slightly concerned to say the least. Not so much about the bike as it wasn't covered to begin with, but the fact that my car is now with them - they sound like a pain in the ass to deal with. I may need to do some shopping around. seven 1 Link to comment Share on other sites More sharing options...
stefmeister Posted August 15, 2018 Share Yeah, that's a no from me. I'll never insure my car with any company other than Santam, Old Mutual or Discovery.When it's time to claim, you'll quickly forget about silly out bonuses and special R1 offers when you have to deal with their service. Link to comment Share on other sites More sharing options...
EmJayZA Posted August 15, 2018 Share Regardless, its an interesting business. As always, when in doubt, chat to a broker! And how does one tell if the broker is not pushing his/her own preferred insurance companies? It's like with financial advisors who push only the products in their portfolio, and make BS claims. Link to comment Share on other sites More sharing options...
Shebeen Posted August 15, 2018 Share I'm open to anyone who tries a bit of innovation in this competitive cash cow. plus their adverts are pretty good, and they have a proper sense of humour and they supported this movie BUT if they don't do what they're actually supposed to do, then it ain't gonna work for me. Link to comment Share on other sites More sharing options...
Shebeen Posted August 15, 2018 Share there's a thread on this on page 3, and no one has posted the official youtube clip yet?! skandaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaal! Link to comment Share on other sites More sharing options...
Sven137 Posted August 20, 2018 Share mini hijack... Who's Rob Deerham? I'm looking for motorcycle insurance but not getting quotes from preferred partners because of requirements like needing household with them! A Motorcycle Insurer that is for Motorcycles and cheaper than anywhere else. http://www.motorcycleinsuranceonline.co.za/ Link to comment Share on other sites More sharing options...
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