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Mtb bike insurance


tommymac
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Depending on what you have the bikes insured for. I know a friend recently cracked a frame. Frame was sent to someone for assessment was told to replace frame. Saw cost of new frame, send to different place for assessment for repair and approved repair at this party. Insurance was asked who is going to kept liable if frame repair fails and he gets hurt . . No answer.

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Also look at Alexander Forbes. Cyclesure was only willing to insure the value I paid for my second hand bikes, instead of replacement value. Got AF to quote on my household and car insurance and they came in lower than Santam so I moved my entire portfolio across. Friends claiming from AF also never had a problem.

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I've insured with Outsurance (and house and car)....touch wood bikes not been stolen yet(!) but I have claimed on a broken frame as well as damaged wheels and RD with no issues (thanks to a stick through the spokes!). But to be fair I also very rarely make a claim and have been with Outsurance for last  14 or 15 odd years.

Just like bike shops I think you will end up with a multitude of different views!

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Also look at Alexander Forbes. Cyclesure was only willing to insure the value I paid for my second hand bikes, instead of replacement value. Got AF to quote on my household and car insurance and they came in lower than Santam so I moved my entire portfolio across. Friends claiming from AF also never had a problem.

+1 for AF????????

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Also look at Alexander Forbes. Cyclesure was only willing to insure the value I paid for my second hand bikes, instead of replacement value. Got AF to quote on my household and car insurance and they came in lower than Santam so I moved my entire portfolio across. Friends claiming from AF also never had a problem.

You might want to contact your broker, or AF directly if you did not go through a broker and find out what you will need in the case of a total loss and if you can insure the bike for replacement of a new bike even if you bought it second hand.  And get the response in writing.

 

If you crash your bike and damage your wheel for example, you should not have a problem with your claim. 

 

If you have a total loss, like your bike got stolen you, most of the time the insurance company wants the proof of purchase for the bike. 

I am not sure that buying a bike second hand for half the price of a new one and insuring it for the replacement of the new one will make the insurance that happy.  One of the biggest reasons for second hand bike prices being so much lower than a new bike is because you void the warranty of the bike if you are not the first owner.  Well, on most brands you do. 

 

The insurance must put you in the same position the you were in before the time of the incident.  That is why so many people argue that the insurance should not be repairing a carbon frame but replace the frame, because you will void your warranty on a repaired frame, and they cannot guaranty that the repair will not fail.

If you bought the bike second hand, you never had a warranty on the bike, and you will be put in a much better position if you insure your bike for the replacement of a new bike.

 

I’m not saying you cannot do this, I would just get in in writing from the insurance or your broker.

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Probably a silly question, but still gonna ask, why do you insure your bikes for ? My personnal example, I have 3 bikes, only one that I consider expensive enough to possibly need insurance, I did a quote on cyclesure, it comes at more than 250 a month. The bike is under a 6 year warranty from Canyon, it stays in my garage but the contents of my house is insured, so all I could possibly worry is if someone rear ends me on the way to the trails and crushes my bike on it's rack ? Am I missing something ? Like maybe the fact that manufacturers are full of **** when it comes to warranty ? I would tend to trust them more to replace my bike than any insurance company, am I wrong ?

Edited by Jbr
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Probably a silly question, but still gonna ask, why do you insure your bikes for ? My personnal example, I have 3 bikes, only one that I consider expensive enough to possibly need insurance, I did a quote on cyclesure, it comes at more than 250 a month. The bike is under a 6 year warranty from Canyon, it stays in my garage but the contents of my house is insured, so all I could possibly worry is if someone rear ends me on the way to the trails and crushes my bike on it's rack ? Am I missing something ? Like maybe the fact that manufacturers are full of **** when it comes to warranty ? I would tend to trust them more to replace my bike than any insurance company, am I wrong ?

 

If you get bike jacked no one will replace as it was not in your household when the theft occurred?

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Probably a silly question, but still gonna ask, why do you insure your bikes for ? My personnal example, I have 3 bikes, only one that I consider expensive enough to possibly need insurance, I did a quote on cyclesure, it comes at more than 250 a month. The bike is under a 6 year warranty from Canyon, it stays in my garage but the contents of my house is insured, so all I could possibly worry is if someone rear ends me on the way to the trails and crushes my bike on it's rack ? Am I missing something ? Like maybe the fact that manufacturers are full of **** when it comes to warranty ? I would tend to trust them more to replace my bike than any insurance company, am I wrong ?

If your bike is stolen while you are on it (unfortunately not an uncommon occurrence in good old SA), household insurance won't do you much good as far as I know. That and manufacturers only cover you for factory defects, i.e. a crack at a weld on an Alu bike. But if you crash into a tree and break the frame, you aren't covered. If you specify the bike on insurance, at least on insurance like cycle sure, you can claim where not covered by warranty.

Edited by DCJ
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Probably a silly question, but still gonna ask, why do you insure your bikes for ? My personnal example, I have 3 bikes, only one that I consider expensive enough to possibly need insurance, I did a quote on cyclesure, it comes at more than 250 a month. The bike is under a 6 year warranty from Canyon, it stays in my garage but the contents of my house is insured, so all I could possibly worry is if someone rear ends me on the way to the trails and crushes my bike on it's rack ? Am I missing something ? Like maybe the fact that manufacturers are full of **** when it comes to warranty ? I would tend to trust them more to replace my bike than any insurance company, am I wrong ?

If you have a crash and smash the frame and components, Canyon aren't going to care nor replace any of the damaged items. 

 

Going to be a very expensive situation without insurance.

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I thought crashing was a common use on a MTB... For the bike jacking, on my Canyon it is not a issue yet as I only ride it on the tygerberg network, but if I start riding trails in town, then I could become a subject.

 

Other question, there's 3 profiles on the cyclesure website. I do plan on doing the EWC races next season on the Canyon, I do marathon races on my XC bike (I did 4 races this season), and I'm planning on doing the stellies tour + ct cycle tour on the road bike. All in all, even if I ride 3 to 5 days a week between all three bikes, I still think I'm the "joy rider" profile, but I don't really understand why they have these 3 products. What if I pick the joy rider package and end up crushing my road bike during a race, will they try and f*** me over saying I'm not supposed to race it ? (even though it specifies "you occasionnaly participate in races") ??

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I thought crashing was a common use on a MTB... For the bike jacking, on my Canyon it is not a issue yet as I only ride it on the tygerberg network, but if I start riding trails in town, then I could become a subject.

 

Other question, there's 3 profiles on the cyclesure website. I do plan on doing the EWC races next season on the Canyon, I do marathon races on my XC bike (I did 4 races this season), and I'm planning on doing the stellies tour + ct cycle tour on the road bike. All in all, even if I ride 3 to 5 days a week between all three bikes, I still think I'm the "joy rider" profile, but I don't really understand why they have these 3 products. What if I pick the joy rider package and end up crushing my road bike during a race, will they try and f*** me over saying I'm not supposed to race it ? (even though it specifies "you occasionnaly participate in races") ??

 

My understanding is they are trying to distinguish between those that are semi-pro, and cycle almost daily, race often, pros who use their bike daily and race all the  time. And your average Joe, that does the odd race but cycling is more "recreational". But, that is an educated guess from my part. Best to confirm with them. At the end of the day, insurers are always looking to protect their bottom line, so don't leave them any wiggle room.

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