Bike insurance

[MajG]

4 hours ago, guidodg said:

anyone else have experiences with Naked insurance?

No issues with Naked Insurance,  claim paid out within 1 week after dropping bike off at bike shop to assess damage. Give u options of shops closest to you.

Riders@work do the assessment and admin on behalf of Naked and they where easy to deal with and kept me updated frequently. 

Brother also with them and no issues when he claimed a month ago

[The Ouzo]

Speaking of insurance, what do you do about the rest of your kit?

helmet, shoes, sunglasses, gps etc. 

If bike jacked they’ll take a fair amount of stuff, just my saddle bag and items inside that I lost during ctct was 1k, and that’s probably the cheapest of all the items that go with the bike. 

[ChrisF]

10 minutes ago, ouzo said:

Speaking of insurance, what do you do about the rest of your kit?

helmet, shoes, sunglasses, gps etc. 

If bike jacked they’ll take a fair amount of stuff, just my saddle bag and items inside that I lost during ctct was 1k, and that’s probably the cheapest of all the items that go with the bike. 

 

My household insurance is at Santam, via a broker.

 

The bike is specified, with comprehensive cover.

 

Watch, helmet, shoes, etc are covered under a section of "Wearables".

 

[The Ouzo]

35 minutes ago, ChrisF said:

 

My household insurance is at Santam, via a broker.

 

The bike is specified, with comprehensive cover.

 

Watch, helmet, shoes, etc are covered under a section of "Wearables".

 

Did you list them under wearables?

what about lights GPS etc. 

[LOGAN BROWN]

Cyclesure underwritten by hollard 

[ChrisF]

15 minutes ago, ouzo said:

Did you list them under wearables?

what about lights GPS etc. 

 

With my policy wearables has a "claim limit", no need to list specific items.  My primary need was the watch, the rest is just a bonus.

 

 

My bike has an insured value as per the updated quote from Giant.  Theft, bike-jacking, accident, etc I am fully covered for the bike.  The extras on the bike is a topic I have not explored, knowing this is for my risk at the moment.  I expect this would have to be specified, proof of purchase, etc as per any specified item ....

[Luca Stermin]

Chat to Riccardo Stermin. He was an assesor for 20 years and then became a broker 12 years ago👍. I’m insured with cycle sure. They a cycling specific insurer and can specify all your bicycles and equipment.  They very good.  Or could insure your bicycle under your home policy with MUA 👍
Riccardo 0836752057

[wolver]

1 hour ago, ouzo said:

Speaking of insurance, what do you do about the rest of your kit?

helmet, shoes, sunglasses, gps etc. 

If bike jacked they’ll take a fair amount of stuff, just my saddle bag and items inside that I lost during ctct was 1k, and that’s probably the cheapest of all the items that go with the bike. 

I'm with Cyclesure and they cover your riding accessories under the bike policy (bike rack, sunglasses, gps etc). They also cover race entry fee, travel and accommodation cost if you are unable to do a race due to personal emergency or illness. Not the cheapest option i suspect, but pretty comprehensive cover. 

[guidodg]

With Naked insurance if I want to insure 2 bikes do I need to get a quote for each one specifically or can I sum up the value and get one premium [obviously specifying the 2 bikes and their respective values]?

 

update….they answered my email and said each bike must be insured on a separate quote

bikes on a locked roofrack are covered if reasonable precautions were taken, obviously not left overnight in the street on the car😵‍💫

Edited April 3, 2022 by guidodg

[M L]

On 4/2/2022 at 12:30 PM, MajG said:

No issues with Naked Insurance,  claim paid out within 1 week after dropping bike off at bike shop to assess damage. Give u options of shops closest to you.

Riders@work do the assessment and admin on behalf of Naked and they where easy to deal with and kept me updated frequently. 

Brother also with them and no issues when he claimed a month ago

Same experience with me.

 

Claimed for a cracked carbon wheel.

 

Claims process was an absolute breeze and very pleasant with Riders@work as the assessors.

 

Highly recommend Naked Insurance.

[Jono]

8 minutes ago, M L said:

Same experience with me.

 

Claimed for a cracked carbon wheel.

 

Claims process was an absolute breeze and very pleasant with Riders@work as the assessors.

 

Highly recommend Naked Insurance.

What did you have to do to claim for a cracked rim, how did they assess? 

[WR 1.0]

On 4/2/2022 at 4:55 PM, ouzo said:

Speaking of insurance, what do you do about the rest of your kit?

helmet, shoes, sunglasses, gps etc. 

If bike jacked they’ll take a fair amount of stuff, just my saddle bag and items inside that I lost during ctct was 1k, and that’s probably the cheapest of all the items that go with the bike. 

Should be covered under All Risk section (sub section of your Contents). There are 2 parts to All Risks, Specified - like your bike where the note the item specifically, and Un specified - usually clothing and personal affects.

Most companies would limit the per item value however ( if you select R20 000 All Risk Unspes cover, you might have 25% of that value as cover per item

[cadenceblur]

27 minutes ago, M L said:

Same experience with me.

 

Claimed for a cracked carbon wheel.

 

Claims process was an absolute breeze and very pleasant with Riders@work as the assessors.

 

Highly recommend Naked Insurance.

My experience was otherwise.

It appeared that they want to do their underwriting when I wanted to claim, forget the fact that I was paying premiums for ages.

Communication was poor and they had the nerve to tell me my bike value was too high, only for me point out certain specs (eg. Wheels) that RAW overlooked.

Also tried to avoid replacing my shifters as they claimed the damage was due to wear and tear and not related to the incident.

[The Ouzo]

2 minutes ago, cadenceblur said:

want to do their underwriting when I wanted to claim

beware of this with Life Cover too. Many of the life cover providers dont do upfront underwriting. Dont let your spouse find out the hard way, ask up front.

[ChrisF]

4 hours ago, WR 1.0 said:

Should be covered under All Risk section (sub section of your Contents). There are 2 parts to All Risks, Specified - like your bike where the note the item specifically, and Un specified - usually clothing and personal affects.

Most companies would limit the per item value however ( if you select R20 000 All Risk Unspes cover, you might have 25% of that value as cover per item

Santam also has a sub.section called "Wearables".  This covers my helmet, clothing, shoes, watch, etc .... small co.payment.

[Rob K]

Hi Guys,

 

Just been looking at the Naked app.

 

Under Householders, you can add sports equipment etc (incl bicycles) at an overall amount in ZAR.

 

Is this the right place to insure your bicycles or should they be specified?