Naughty, naughty.

[Stockman]

Many years ago and about 8 months after getting my brand spanking new Scalpel this scenario played out:

 

Parties included Me, a roofrack, Scalpel and Garage Entrance.

 

Needless to say the down tube did not look quite as spritely as it did before going in.

 

LBS gave me a reasonable quote to replace the frame and charge for the build over of the parts to the new one. No unreasonable request to have the bike replaced.

 

Enter party 5, the assessor, 3 piece suit and leather briefcase. No problem he says you can have that repaired!!!!!!

 

After asking him whether he was Mtb'ker or cyclist and getting a negative reply, I "POLITELY" chased him off my property.

 

Insurance replaced the frame. Still riding it!

 

No doubt, even then there were some suspicious claims on Bikes.

Edited May 14, 2020 by Stockman

[Steven Knoetze (sk27)]

You're wrong. 

 

Bikes and other equipment, except for cars (and I think boats and maybe planes) are insured against their new replacement cost. That's SOP for short term insurance, and why companies have marketing drives to ensure you're properly insured for the item's replacement value. 

 

If your bike, tools, jewellery etc are stolen, insurers ask for a replacement quote from your LBS for the new / equivalent of the stolen model. 

 

You can CHOOSE to insure your bike for a % of its new replacement cost, but some insurers will "average" your claim and you'll only get a percentage of the underlying cost of the things that break, which is calculated on a ratio of insured value:replacement value. This means that the only time you'll get paid out in full (again, with certain insurers) is if there's a total loss. 

 

Cars (as said above) operate on a different model.

 

I am happy to be corrected if I learn something new.

Thanks Myles

[Breezer]

Make me think about a guy in our town a few years back who's bakkie got stolen. 2 years later he got drunk one evening and hit his wife. She went to the police and opened a case against him and told them about a certain bakkie standing in his mothers garage in another town. He is still in jail.

[porqui]

Make me think about a guy in our town 

 

Eina very eina !!!

[JuddMan]

Just thought I'd chime in my 2c regarding insurance fraud. I can neither confirm nor deny that I work for a major insurance organization in South Africa, and cannot confirm nor deny that I consult with said organizations fraud departments. But this is what I do know:

 

Roughly 54% of all personalized items claims are fraudulent in some way (some are full on fraudulent, some are inflated claims, i.e. valid claim, but the client adds on an item or 2 that doesn't exist) which hurts every client as it is the premiums of many, who pay for the claims of few.

 

Further, most insurance companies employ incredibly specialized people for this, We're talking ex HAWKS, SAPS detectives and the like who are relatively thorough in their investigations.

 

My advice to all of us regular/law abiding clients is as follows: come claim stage, be friendly and help the assessor wherever you can with requests for them. You will be surprised as to how far character judgment goes with claims.   

[DieselnDust]

Many years ago and about 8 months after getting my brand spanking new Scalpel this scenario played out:

 

Parties included Me, a roofrack, Scalpel and Garage Entrance.

 

Needless to say the down tube did not look quite as spritely as it did before going in.

 

LBS gave me a reasonable quote to replace the frame and charge for the build over of the parts to the new one. No unreasonable request to have the bike replaced.

 

Enter party 5, the assessor, 3 piece suit and leather briefcase. No problem he says you can have that repaired!!!!!!

 

After asking him whether he was Mtb'ker or cyclist and getting a negative reply, I "POLITELY" chased him off my property.

 

Insurance replaced the frame. Still riding it!

 

No doubt, even then there were some suspicious claims on Bikes.

 

 

 

there are many assessors pulling a fast one with the repair option being good enough. Dont; accept this unless they sign acceptance of liability in the event of the bike failing and injuring you or incapacitating you. They tried that sh*t with me once and never again as they won't sign it.

I don't believe some of the repairs being sold off as god as new bike. Carbon repairers happy to disagree but the repair is never going to be as strong as the original bike,....never. Minor cosmetic issues aside anything structural that requires a resin being bonded to cures resin just isn't going to last. Broken downtube?Throw is away.

Broken seat stay? Yeha maybe, bike may not feel the same again  but if it snaps its unlikely to kill you but you will have skid marks in your bibs.

Broken top tube, maybe.

Broken fork., throw away

Broken headtube, throw away.

 

Any repair is no longer a homogenous structure

[Help.Me.]

Fraud in the insurance Industries makes it sometimes very difficult for clients to claim and the first thing that normally comes to mind from the client is the following: I paid my premiums every month but when the sh!t hits the fan the Insurance Companies are using all the wordings etc to get out of the situation. The role the assessors play is also vital and there are really terrible assessors out there , treating the clients like criminals..... I can vouch for the Ombuds , i have just won a case where my client got R 915 000 out for a shed that burnt down. it is just so unnecessary and i don't know if the Insurers know how much damage this does to there Brand...... i have another 2 cases with the Ombuds and it is the same Company , and yes you've  guest it right, will i place clients there in the future, i doubt it very much.   

[Shebeen]

Fraud in the insurance Industries makes it sometimes very difficult for clients to claim and the first thing that normally comes to mind from the client is the following: I paid my premiums every month but when the **** hits the fan the Insurance Companies are using all the wordings etc to get out of the situation. The role the assessors play is also vital and there are really terrible assessors out there , treating the clients like criminals..... I can vouch for the Ombuds , i have just won a case where my client got R 915 000 out for a shed that burnt down. it is just so unnecessary and i don't know if the Insurers know how much damage this does to there Brand...... i have another 2 cases with the Ombuds and it is the same Company , and yes you've  guest it right, will i place clients there in the future, i doubt it very much.   

 

come again, bit hard to see what the claim was about?

 

Like a garden wendyhouse shed worth R30k or a mancave with signature guitars and flatscreens(or a farmshed with tractors)??

[Help.Me.]

Farm Shed...........sorry 

[ChrisF]

come again, bit hard to see what the claim was about?

 

Like a garden wendyhouse shed worth R30k or a mancave with signature guitars and flatscreens(or a farmshed with tractors)??

 

Farm fires are EXPENSIVE !!!

 

Facility that packs and stores fresh produce before it gets shipped out .... R 110 000 000 claim.

 

 

Game HAS changed though .... now the insurers do check on the insured value, AND the risk during the life cycle of the policy.  More to the point, the re-assurrers now require comprehensive reports before renewal of contracts ....

 

 

Bear in mind that until 1998 farms did NOT have to submit building plans.  So some "interesting" structures out there .... and when these reports dont like the risk profile .... well things gets interesting from there ....