Bicycle insurance

[Ridetorelax]

Fortunately I’ve only had one issue with the insurance and hardly made any claims in my entire life. However having so many college’s and friends complaining about insurance companies repudiating is definitely a major problem. If you know of a good broker that won’t recommend Discovary or GaurdRisk underwriters   as a “reliable”” insurance company- please PM me and I’ll forward the details to the appropriate person

[Luca Stermin]

18 minutes ago, Ridetorelax said:

Fortunately I’ve only had one issue with the insurance and hardly made any claims in my entire life. However having so many college’s and friends complaining about insurance companies repudiating is definitely a major problem. If you know of a good broker that won’t recommend Discovary or GaurdRisk underwriters   as a “reliable”” insurance company- please PM me and I’ll forward the details to the appropriate person

Riccardo Stermin 0836752057. Been in the insurance industry for 35 years. Been a broker for 12 years. Highly recommended 👍. Also a top cyclist. 

[Alastair_S1D]

So I was with Cyclesure since 2016. But unfortunately they recently kicked me off as an undesirable. 

 

Unfortunately I hit a stroke of bad luck between 2019 and 2021. I lost 4 bikes and a wheelset totalling near enough 160K. 3 bikes and wheels to theft from the house and the last bike was getting hit by a car. We live in a very high risk area in Cresta close to Windsor and our landlord was VERY lax on security. So even though we did the best we could to lock up our garage and keep the bikes safe ultimately the perps were still gaining easy access to the complex grounds because of the lax security.

 

So ultimately we bought our own place and moved to a safer complex and area. But I guess in their eyes it was too late as Cyclesure paid out the last claim and kicked me to the kurb.

 

I'm now with naked. But after reading this thread I want to go through my Ts&Cs to make sure I am getting good cover. Anyone know what to look out for?

[ChrisF]

3 minutes ago, Alastair_S1D said:

So I was with Cyclesure since 2016. But unfortunately they recently kicked me off as an undesirable. 

 

Unfortunately I hit a stroke of bad luck between 2019 and 2021. I lost 4 bikes and a wheelset totalling near enough 160K. 3 bikes and wheels to theft from the house and the last bike was getting hit by a car. We live in a very high risk area in Cresta close to Windsor and our landlord was VERY lax on security. So even though we did the best we could to lock up our garage and keep the bikes safe ultimately the perps were still gaining easy access to the complex grounds because of the lax security.

 

So ultimately we bought our own place and moved to a safer complex and area. But I guess in their eyes it was too late as Cyclesure paid out the last claim and kicked me to the kurb.

 

I'm now with naked. But after reading this thread I want to go through my Ts&Cs to make sure I am getting good cover. Anyone know what to look out for?

 

Slightly TIC ... just slightly ...

 

in 1996 we lived in a complex.  Got home to find the washing lines were EMPTY .... bit of a flurry in the complex, and then we realise everybodies washing was stolen.

 

Insurance paid out.

 

Change of season ... but still bitterly cold .... damned if we could find any winter clothing in the shops !!

 

Next week ... JIP ... washing lines cleaned out again !!!

 

This time the insurance was more sticky, and we were informed this would be the last payout of its kind ..... complex had to improve its security.  

 

 

Forget the money ... by now we had no winters clothing left !!!  It was a bitterly cold few weeks before summer kicked in.

[Steven Knoetze (sk27)]

48 minutes ago, ChrisF said:

 

Slightly TIC ... just slightly ...

 

in 1996 we lived in a complex.  Got home to find the washing lines were EMPTY .... bit of a flurry in the complex, and then we realise everybodies washing was stolen.

 

Insurance paid out.

 

Change of season ... but still bitterly cold .... damned if we could find any winter clothing in the shops !!

 

Next week ... JIP ... washing lines cleaned out again !!!

 

This time the insurance was more sticky, and we were informed this would be the last payout of its kind ..... complex had to improve its security.  

 

 

Forget the money ... by now we had no winters clothing left !!!  It was a bitterly cold few weeks before summer kicked in.

I have always wondered why this doesn't happen more given the cost of clothing.

The other one that I am always wondering is hijacking of shopping outside a supermarket, given the cost of food these days........ Hoping I am not given out any ideas here.

[Earn_your_turns]

My bike was recently stolen and the insurace is amazing enough and is going to payout in full (less excess) so super stoked!

They are going to pay into a voucher card of some kind to go and buy the bike, but a mate is selling a great bike that I'd to purchase. 

Any recomendations as tohow I'd be able to purchase a great second hand bike as oppose to going through a bike shop?

TIA

[Tandemuis]

3 minutes ago, Earn_your_turns said:

My bike was recently stolen and the insurace is amazing enough and is going to payout in full (less excess) so super stoked!

They are going to pay into a voucher card of some kind to go and buy the bike, but a mate is selling a great bike that I'd to purchase. 

Any recomendations as tohow I'd be able to purchase a great second hand bike as oppose to going through a bike shop?

TIA

A voucher? The insurance is paying you in a voucher format?

I would ask for the money to be paid into my bank account.

 

[Earn_your_turns]

4 minutes ago, Tandemuis said:

A voucher? The insurance is paying you in a voucher format?

I would ask for the money to be paid into my bank account.

 

I did, but it's a cash voucher to be spent at a shop so no cash... not ideal I know.

Was thinking that I purchase a bike and they refund it back into my bank account?

[Tandemuis]

On 11/14/2022 at 10:06 AM, ChrisF said:

 

Slightly TIC ... just slightly ...

 

in 1996 we lived in a complex.  Got home to find the washing lines were EMPTY .... bit of a flurry in the complex, and then we realise everybodies washing was stolen.

 

Insurance paid out.

 

Change of season ... but still bitterly cold .... damned if we could find any winter clothing in the shops !!

 

Next week ... JIP ... washing lines cleaned out again !!!

 

This time the insurance was more sticky, and we were informed this would be the last payout of its kind ..... complex had to improve its security.  

 

 

Forget the money ... by now we had no winters clothing left !!!  It was a bitterly cold few weeks before summer kicked in.

This is not treating the customer fairly!

I hope you found a decent broker after that. I would be livid beyond measure if that had to happen to my family.

[Tandemuis]

Just now, Earn_your_turns said:

I did, but it's a cash voucher to be spent at a shop so no cash... not ideal I know.

Was thinking that I purchase a bike and they refund it back into my bank account?

What insurance company is this? My wife is an insurance broker and have been for 25 years. This is ridiculous! The money for your claim should be paid into your bank account. You can then buy whatever you want with it, from whoever you want, you don't even have to buy a bike! 

 

[Earn_your_turns]

2 minutes ago, Tandemuis said:

What insurance company is this? My wife is an insurance broker and have been for 25 years. This is ridiculous! The money for your claim should be paid into your bank account. You can then buy whatever you want with it, from whoever you want, you don't even have to buy a bike! 

 

It's with Santam - I know Discovery also gave out Takelaot or Makro vouchers depending where you got a quote from.

I wish I can get that cash.

[Tandemuis]

1 minute ago, Earn_your_turns said:

It's with Santam - I know Discovery also gave out Takelaot or Makro vouchers depending where you got a quote from.

I wish I can get that cash.

I sent my wife a message asking her what your options are. Will get back to you as soon as I hear from her.

[DieselnDust]

i'm with Santam and they pay the money - excess into my bank account

 

broker is Bellryck

Edited December 19, 2022 by DieselnDust

[Tandemuis]

4 minutes ago, Earn_your_turns said:

It's with Santam - I know Discovery also gave out Takelaot or Makro vouchers depending where you got a quote from.

I wish I can get that cash.

So you don't have a broker? Because they would sort this out for you. Ask around in your area for one.

Okay so my wife answered and said you must tell them that you found a private deal and you would like a cash settlement.

[Tandemuis]

4 minutes ago, DieselnDust said:

i'm with Santam and they pay the money - excess into my bank account

 

broker is Bellryck

@Earn_your_turns...This right here...you need a broker. 

[Earn_your_turns]

1 minute ago, Tandemuis said:

So you don't have a broker? Because they would sort this out for you. Ask around in your area for one.

Okay so my wife answered and said you must tell them that you found a private deal and you would like a cash settlement.

Shot, with a broker and did say I found a privatedeal. Did escalate it now to the broker again

Their feedback: Met assessor bespteek. Eis skilking is soos kwotasie van fiets winkel en nie kontant skikking nie.  So ongelukkig sal Santam net skikking in kaart betaal.