Bicycle insurance

[cadenceblur]

Works for me. The more you use the bike it appears to level out.

[Kranswurm]

So I am adding a bike and got the following quote:

 

Current bike on is a Scott Scale 960 2018 model insured for R20k. Cost of insurance is R80.60 with R1,250 excess. Comprehensively insured

 

New bike I want to add for R45k. R220 per month with R1,500 excess, also comprehensively insured.

 

They cover everything (accidents, theft etc)

 

Does it sound about right?

Yes

[Reme Le Hane]

Works for me. The more you use the bike it appears to level out.

A full month was over 300, almost double what I am paying for both an the excess on the expensive bike would have been almost 5x. But if I am going to pay more there needs to be considerably more value than a pause button.

[DR ◣◢]

Jasure is a load of nonsense.

 

It only takes that one day that you’re in a rush to the trails and you forget to unpause yourself. That would be the day something happens.

 

My quote never leveled out and worked out more expensive even if i just unpaused for two rides a weekend.

 

Now factor in the risk of your bike sitting paused at home and getting stolen. No thanks.

 

I’ll stick to my broker and real cover 24/7 with a fixed excess and no surprises.

[ChrisF]

Jasure is a load of nonsense.

 

It only takes that one day that you’re in a rush to the trails and you forget to unpause yourself. That would be the day something happens.

 

My quote never leveled out and worked out more expensive even if i just unpaused for two rides a weekend.

 

Now factor in the risk of your bike sitting paused at home and getting stolen. No thanks.

 

I’ll stick to my broker and real cover 24/7 with a fixed excess and no surprises.

And a quick look at the daily stolen posts .... MOST stolen from the HOME ... JaSure, it makes perfect actuarial sense to not cover the highest risk ...

[Edereese]

You get what you pay for. Me, I am extremely happy paying an inflated premium knowing that it’s combined with exceptional service.

[Reme Le Hane]

And a quick look at the daily stolen posts .... MOST stolen from the HOME ... JaSure, it makes perfect actuarial sense to not cover the highest risk ...

The problem is people don’t fully understand how insurance works, and I have seen it on a forum thread discussing JaSure, the person assumed the bikes were still “automatically” covered at home under general content cove and JaSure was only for when you left the house.

 

Not realizing that high value portables need to be specified regardless.

 

I was always one who read everything I signed, never took policies over the phone until after I read the policy docs. I even spent 2 years working in insurance systems development and that’s when you really learn the ins and outs.

 

Like how many people notify their insurer or broker when they get a new phone, someone mugs you in the parking lot your SOL. That phones not covered unless your broker replies with confirmation or your finished your call with your direct provider and who the hell does that in the shop.

 

That is why I chose Naked, I have an understanding that most do not as to how the business works, how they are able to offer such low premiums and excesses, where they are saving costs and adding value.

 

I got my new iPad today, it was insured before I got to the door.

[WR 1.0]

Naked (Hollard), as part of my content cover.

Based on the app, you still need to note them separately (items over R5k)?

[ChrisF]

The problem is people don’t fully understand how insurance works, and I have seen it on a forum thread discussing JaSure, the person assumed the bikes were still “automatically” covered at home under general content cove and JaSure was only for when you left the house.

 

Not realizing that high value portables need to be specified regardless.

 

I was always one who read everything I signed, never took policies over the phone until after I read the policy docs. I even spent 2 years working in insurance systems development and that’s when you really learn the ins and outs.

 

Like how many people notify their insurer or broker when they get a new phone, someone mugs you in the parking lot your SOL. That phones not covered unless your broker replies with confirmation or your finished your call with your direct provider and who the hell does that in the shop.

 

That is why I chose Naked, I have an understanding that most do not as to how the business works, how they are able to offer such low premiums and excesses, where they are saving costs and adding value.

 

I got my new iPad today, it was insured before I got to the door.

Ironically this is how I landed with my current broker.

 

Previously with Absa brokers, also with Santam.

 

Buying a new car I got the run around for days .... the absa brokers moved offices and it was just impossible to get any service .... I knew this lady did short term, ONE call, 30 minutes later I wax insured !! Went in the next day to sign a few forms.

 

 

Over the last 25 years she has given me EXCELLENT service.

[WR 1.0]

Naked (Hollard), as part of my content cover.

You still have to specify the items if you want cover away from the house or your cover is limited to 20% of the Sum Insured of your contents. If you want full cover, you still need to specify the items. Naked is cheaper cause you deal with "Rose"and do everything in the app , and other savings from a traditional insurer.

[Reme Le Hane]

Based on the app, you still need to note them separately (items over R5k)?

I know, still falls in with content cover, just specified high value items, the specified makes up most of my cover. 179 is the bikes portion of my cover.

[Pure Savage]

Naked (Hollard), as part of my content cover.

Looks like some good numbers

[WR 1.0]

Looks like some good numbers

Just remember to specify it similar to your current policy with Disco. They have an option to only cover your bicycle as example, if you have your car on the policy, without having to have your contents covered with Naked too. Just bear in mind that you can't have the same item insured with two insurers at the same time.

[Reme Le Hane]

Just remember to specify it similar to your current policy with Disco. They have an option to only cover your bicycle as example, if you have your car on the policy, without having to have your contents covered with Naked too. Just bear in mind that you can't have the same item insured with two insurers at the same time.

It is however considerably more to cover single items, you loose out on the cross subsidy discount.

 

So my expensive bike (80k) would end up being 314, pretty much the same as JaSure as a single item.

[Spirog]

So, a year after the last update to this forum, I'm looking for current recommendations for insurance for my bikes. What's been the best experience on the Hub over the past 12 months?

[Steady Spin]

1 hour ago, Spirog said:

So, a year after the last update to this forum, I'm looking for current recommendations for insurance for my bikes. What's been the best experience on the Hub over the past 12 months?

Still through my broker under my household cover. Full comprehensive cover. 

Bike worth R180k insured for around R450 a month for both.