Best Insurance on Bikes? Stay away from Indequity!!!!

[Wannabe]

There has been a few negative threads on them on the Hub. If I remember, one related to Outsurance insisting on repairing a broken frame rather than replacing. 

 

But I am pretty sure, you will find negative threads on almost every insurer.

 

Had one claim with them in 2010. Broke my bikes frame.

They paid out without any hesitance. From claim going in,  to money in my bank, 3 working days.

I expected them to replace the frame only, but they paid out for whole insured amount.

 

Best of all, they never collected the old bike, and when I contacted them after a few months, I got told I could keep it and do with it what I wanted. Those components kept me going for many years after that still. 

[Skubarra]

When my bike was stolen from the office garage they were prepared to pay the claim, no issues (but my bike was recovered before they could pay the claim)

[Markellis]

Recently went down this road and after some research went with cyclesure.

 

On the Outsurance questions, I came across a few threads where people had issues with claims, I think it is mentioned in the thread below:

https://community.bikehub.co.za/topic/178160-king-price-r1-bike-insurance/page-2

 

I have no personal experience with them though

Edited April 4, 2019 by Markellis

[Stoffel76]

In my head yes, on the route, I wish!  

 

I did query with the broker whether the Santam All Risk will include race accidents and was told no. I'll be brutally honest though, I'm not sure they are entirely certain themselves. Previous broker said I was indeed covered for races on the same policy, but the new one says no, so I'm taking it as a no  

Perhaps that's the difference then, racing being covered but professional racing is not (only difference is whether you tell them up front you're a podium candidate or not?)

Lol!  Aren't we all??

 

Assuming you have a standard Santam policy (if you're on a broker scheme policy that's underwritten by Santam, the wording can be whatever the scheme has agreed with the insurer... so then this may not apply), when we add an item, the system asks if it is used for professional use (which would mean you earn an income from it). If you say Yes, the system doesn't let you add it. 

 

But as I said, there is no racing exclusion in their standard All Risks wording, so double check the wording that you were sent. (And if you do happen to crash your bike in a race, submit a claim anyway and see what they say... )

[SurferChild]

Has anyone had any experience with outsurance?

Only ever experience I had with them is receiving a SHOCKING quote... and that was that.

Even being an existing customer of Outsurance, when I wanted to add my bike it was a very loud and clear NO

[Fast-er]

I had my bike insured with Miway Insurance. and I have never had any issues with them.

 

First Claim i lost my Brand new Adidas Glasses with the CTCT that blew off my face, Had a new pair in 5 days.

 

second, i was on a training ride, Hit a pothole with my Carbon Wheel.Had a nice crack on it. They replaced the entire wheel. even my tyre and tube that burst with the impact. 7 days and i had my new wheel.. So they are defiantly worth considering 

[Apemanscolony]

Please elaborate. I have been with them for about 9 years now and have never had an issue, BUT I have not yet had to claim for anything cycling related. 

 

I praise them every chance I get and refer people via my broker, so would like to know if there is something unscrupulous going on there that I need to tell my people about.

 

I had a fall on my mtb, and cracked frameat my back pivot bearing. As i told the the bike shop i fell, they said i must use my insurance, as im not covered under warranty for that. 

So i put a claim in, after about 2-3 weeks, they came back to me, and stated that it can be repaired, and they going that way.

I had letter from the manufacturer stating that it would not be a good idea, on that specific spot, they went on and said they will.

So i rejected and and had to cancell the claim.

Im with them for 6 years+ now, have all my bikes, helmets, gear etc specified.

 

[Apemanscolony]

In my head yes, on the route, I wish!  

 

I did query with the broker whether the Santam All Risk will include race accidents and was told no. I'll be brutally honest though, I'm not sure they are entirely certain themselves. Previous broker said I was indeed covered for races on the same policy, but the new one says no, so I'm taking it as a no  

Perhaps that's the difference then, racing being covered but professional racing is not (only difference is whether you tell them up front you're a podium candidate or not

My insurance stated as long as im not riding a pro, not getting paid to race, bikes will be covered in races.

[Patchelicious]

My insurance stated as long as im not riding a pro, not getting paid to race, bikes will be covered in races.

If you are going to ride a pro, make sure you use protection.

[Eugene]

I had a fall on my mtb, and cracked frameat my back pivot bearing. As i told the the bike shop i fell, they said i must use my insurance, as im not covered under warranty for that.

So i put a claim in, after about 2-3 weeks, they came back to me, and stated that it can be repaired, and they going that way.

I had letter from the manufacturer stating that it would not be a good idea, on that specific spot, they went on and said they will.

So i rejected and and had to cancell the claim.

Im with them for 6 years+ now, have all my bikes, helmets, gear etc specified.

 

They wanted to repair despite the manufacturer advising against it. You had to reject the claim and you have still stayed with them for 6 years. You should have dumped then like a stone.