Chingy182 Posted December 12, 2018 Share Has anyone tried registering an additional bike with their Insurance lately? I have my first bike Insured for R70 000 at about R200p.msecond bike insured for R20 000 at about R100p.m Requested a third bike added to the premium yesterday for R30 000 and I was given a quote of R320p.m I immediately query this and the lady tells me that they have gone through the process of re-evaluating their premiums on bicycles and since my other 2 bikes were insured before the change in Risk classification, or whatever, their premiums remain the same. But now any additional bike gets slapped with a hefty fee. Or is this simply just a case of insurance companies waking up and catching up to the amount of bikes being stolen? Link to comment Share on other sites More sharing options...
Wimmas Posted December 12, 2018 Share I added my bicycle about a week ago, first bicycle. Insured for R20,000 and they charge me R72 pm. Link to comment Share on other sites More sharing options...
Bloukrans Posted December 12, 2018 Share I'm waiting for Patch to tell you the following: "Get a broker" Take that advice Link to comment Share on other sites More sharing options...
Christofison Posted December 12, 2018 Share Yass, I was quoted R650/month for a R50k bike. I told them to get lost and moved my car insurance to King Price + R1 for the bike. The crazy thing is that my premiums for both car + bike together are now cheaper than the car alone was at the previous company. Anyone is welcome to DM me their number if they're interested and I'll get the most helpful rep. to give you a call. If you decide to sign up I get a lekker kickback. Link to comment Share on other sites More sharing options...
droo Posted December 12, 2018 Share I'm waiting for Patch to tell you the following: "Get a broker" Take that advice Seconded. Same as a tax practitioner - a decent one will save you far more than they cost you. Link to comment Share on other sites More sharing options...
Dieter ( ͡° ͜ʖ ͡°) Posted December 12, 2018 Share Seconded. Same as a tax practitioner - a decent one will save you far more than they cost you.Where do I get these people? Is it the old adage of you must find the good ones as the bad ones will find you? Link to comment Share on other sites More sharing options...
Chingy182 Posted December 12, 2018 Share Where do I get these people? Is it the old adage of you must find the good ones as the bad ones will find you? Word of Mouth works wonders in this industry. It's just unfortunate that my current short term insurance company don't make use of brokers and I'm stuck with call centre agents everytime I have an issue, which I hate. Link to comment Share on other sites More sharing options...
Schnavel Posted December 12, 2018 Share Yass, I was quoted R650/month for a R50k bike. I told them to get lost and moved my car insurance to King Price + R1 for the bike. The crazy thing is that my premiums for both car + bike together are now cheaper than the car alone was at the previous company. Anyone is welcome to DM me their number if they're interested and I'll get the most helpful rep. to give you a call. If you decide to sign up I get a lekker kickback. Be very careful with King Price - as with everything in life, you get what you pay for... Link to comment Share on other sites More sharing options...
Pure Savage Posted December 12, 2018 Share Time for a new insurance companies. Link to comment Share on other sites More sharing options...
JohanC Posted December 12, 2018 Share So what is your excess? Yass, I was quoted R650/month for a R50k bike. I told them to get lost and moved my car insurance to King Price + R1 for the bike. The crazy thing is that my premiums for both car + bike together are now cheaper than the car alone was at the previous company.Anyone is welcome to DM me their number if they're interested and I'll get the most helpful rep. to give you a call. If you decide to sign up I get a lekker kickback. Link to comment Share on other sites More sharing options...
Christofison Posted December 12, 2018 Share So what is your excess?R4500 for the car & R500 for the bike. Link to comment Share on other sites More sharing options...
Thomo Posted December 12, 2018 Share So what is your excess?Fair question as one assumes lower premium, greater excess.I've however noticed increases in both in recent time, notwithstanding the presence of a broker. And heaven forbid you should want to claim ... get ready to jump through hoops.! Link to comment Share on other sites More sharing options...
Jase619 Posted December 12, 2018 Share Seconded. Same as a tax practitioner - a decent one will save you far more than they cost you. Just because Efiling makes it easy, doesn't mean you should do it yourself, especially if your tax is more complicated than a IRP5 and a medical certificate. Link to comment Share on other sites More sharing options...
Chingy182 Posted December 12, 2018 Share My only remaining thought is that bike-related claims due to theft,etc. and the general cost of bicycles have caught up to insurance companies. This is most likely our new reality Link to comment Share on other sites More sharing options...
Chingy182 Posted December 12, 2018 Share Moral of the story is that I can probably NEVER afford to upgrade my bike now and risk paying close to R1000p.m on bike insurance. Link to comment Share on other sites More sharing options...
Spoke101 Posted December 12, 2018 Share Moral of the story is that I can probably NEVER afford to upgrade my bike now and risk paying close to R1000p.m on bike insurance.Haha, I'm paying just north of 2k a month for 2 bikes and some accessories with steep excess percentages but I can't take the risk of not insuring when racing competitively and they are the only ones who will insure for replacement value and they have been good to me in the passed. Link to comment Share on other sites More sharing options...
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