Bike Insurance - What works best?

[JBK]

Holy shot that’s expensive, I have 1 bike worth more than those 2 combined at 125k fully insure for R166.

 

What on earth is OS smoking.

I would check exactly what cover you have for R166 because that's very very low...

[Reme Le Hane]

I would check exactly what cover you have for R166 because that's very very low...

Full comprehensive, no point getting anything less.

 

It’s lower than my previous insurer, but never come close to paying what some peeps are mentioning here. Think my highest was like 200 odd for my last bike which was 80k

[NickB]

On 5/9/2021 at 6:50 AM, Reme Le Hane said:

Holy shot that’s expensive, I have 1 bike worth more than those 2 combined at 125k fully insure for R166.

 

What on earth is OS smoking.

 

Who are you using?

[Prince]

 

So my bike was insured at R140k replacement value now Cycle Sure sent me this new break down  and the premium remained the same. Am i worse off now or in the same position?

They said the new split was due to the age of the bike 2009.

 

Component	Sum insured
PINARELLO PRINCE AND FORK	R 56 000.00
GROUPSET	R 28 000.00
WHEELSET	R 28 000.00
SADDLE, PEDALS, STEM, HANDLEBARS	R 28 000.00
Total:	R 140 000.00

Edited July 2, 2021 by Prince

[Mountain Goat]

Theoretically you are in the same position, if the bicycle is stolen you will get R140k, however, by itemising the individual components they may be lowering their risk in the case of an accidental damage claim.

For example if you his a pothole and you need to replace your wheelset, the will cap it at R28k. If your current bike has a set of Zipps on you will not be able to replace them with Zipps as the cap is now at R28k.  

[Prince]

18 minutes ago, Mountain Goat said:

Theoretically you are in the same position, if the bicycle is stolen you will get R140k, however, by itemising the individual components they may be lowering their risk in the case of an accidental damage claim.

For example if you his a pothole and you need to replace your wheelset, the will cap it at R28k. If your current bike has a set of Zipps on you will not be able to replace them with Zipps as the cap is now at R28k.  

Aha. Now that makes sense. 

Edited July 2, 2021 by Prince

[Danger Dassie]

On 5/8/2021 at 7:11 PM, Patchelicious said:

Also give Galileo a call, they put a lot into SA cycling, that should buy them a seat at the table

Good to know for future reference, did not know this. Doesn't come across in the messaging, always took it as risk insurance for businesses. 

[Patchelicious]

3 hours ago, Danger Dassie said:

Good to know for future reference, did not know this. Doesn't come across in the messaging, always took it as risk insurance for businesses. 

https://fb.watch/6uOjbbhPpd/

 

[Patchelicious]

6 hours ago, Prince said:

 

So my bike was insured at R140k replacement value now Cycle Sure sent me this new break down  and the premium remained the same. Am i worse off now or in the same position?

They said the new split was due to the age of the bike 2009.

 

Component	Sum insured
PINARELLO PRINCE AND FORK	R 56 000.00
GROUPSET	R 28 000.00
WHEELSET	R 28 000.00
SADDLE, PEDALS, STEM, HANDLEBARS	R 28 000.00
Total:	R 140 000.00

If your premium has not gone up, having the bits specified is actually pretty cool. For two reasons.

For you personally: if you break a wheel, you will only need to claim the amount needed for a new wheel set, making it far more likely that it will get paid.

The the pool: Claiming R140k total loss for a broken R28k wheel set, means unnecessary claim payments and increased premiums for all.

 

[Danger Dassie]

2 hours ago, Patchelicious said:

https://fb.watch/6uOjbbhPpd/

 

Ta, was actually at this event. ????  .... the talk covers the sponsorship. I mean in general marketing through the team the messaging on cycle insurance isn't apparent.

[Patchelicious]

Just now, Danger Dassie said:

Ta, was actually at this event. ????  .... the talk covers the sponsorship. I mean in general marketing through the team the messaging on cycle insurance isn't apparent.

Well then you know Simmo and know how passionate his team is about the sport. Yay 

[Danger Dassie]

2 minutes ago, Patchelicious said:

Well then you know Simmo and know how passionate his team is about the sport. Yay 

Not sure if you're being snipey here? 
Simply providing an observation, it isn't a slag off and doesn't detract from the passion or their commitment. And yes I do know thanks. 

[Patchelicious]

1 minute ago, Danger Dassie said:

Not sure if you're being snipey here? 
Simply providing an observation, it isn't a slag off and doesn't detract from the passion or their commitment. And yes I do know thanks. 

I’m being chirpy. Don’t be such an Aru. 

[Danger Dassie]

1 minute ago, Patchelicious said:

I’m being chirpy. Don’t be such an Aru. 

Difficult to tell with you Cav ... ????

[Patchelicious]

2 minutes ago, Danger Dassie said:

Difficult to tell with you Cav ... ????

As long as we keep the insults cycling related, admin can’t touch us… boom!

Edited July 2, 2021 by Patchelicious

[Danger Dassie]

Shutup and fight me ...