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Mtb bike insurance


tommymac

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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.

 

 

Before I insured my bikes, I got both of them valued in writing from reputable bike shops, and sent these through with my other documentation to get a quote. The valuations were to get me on a similar bike in case of theft or breakage, so it would be for a full carbon road bike frame with the same spec groupset and wheels. 

Both valuations clearly state that it's for replacement value, and since I'm paying the appropriate premium for that value, insurance should pay out accordingly. But maybe it is worth to check with them...

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I am with Outsurance for home and all risk insurance . I bought a second hand Ghost Lector carbon fibre , had it valued for replacement and used that as my basis for paying my premium on replacement . A dog ran into me while training and the frame was deemed unrepairable by my LBS . I was paid out the full value of replacement .  

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  • 2 weeks later...

I heard today that if I crash or break my bike during an event or race its not covered by insurance? Anyone on hear in the same boat?

 

That's weird. Mine are not covered if I am racing professionally but if I'm just riding open seeded it is covered. Queried that with my broker and that's what he told me. Then I ate **** in the 94.7 MTB race in 2017 and did R10k worth of damage to my bike and they paid out with no issues. So it seems he was right.

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Depends on the risk specified at the in time of taking out the insurance.

Like with motorcycles, only certain trackdays will be covered.

Thats how they cut premiums, by limiting the cover.

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I am with Outsurance for home and all risk insurance . I bought a second hand Ghost Lector carbon fibre , had it valued for replacement and used that as my basis for paying my premium on replacement . A dog ran into me while training and the frame was deemed unrepairable by my LBS . I was paid out the full value of replacement .  

My total package is with Outsurance as well. Pricing even on having it insured as a specified item is quite good for me. I also threw in my shoes, pedals, meter, the whole set-up. Luckily not yet needed to claim. :w00t:

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  • 2 weeks later...

My total package is with Outsurance as well. Pricing even on having it insured as a specified item is quite good for me. I also threw in my shoes, pedals, meter, the whole set-up. Luckily not yet needed to claim. :w00t:

Hi guys, i need to insure our bikes. Asked my broker to quote me if added to my household insurance but actually specify each bike. They came back with R130 per month to cover a 25k mtb, R110 per month for mommies 23k mtb, R55 per month for son's giant talon 1 27.5. This sounds fair, how does this compare to cyclesure or yours? 

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Thanks for the info. Looks like cycle sure offer personal liability aswell.

You can get anything your heart desires... as long as you pay for it.

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