Is per day bike insurance worth it?

[Rudolf Lamprecht]

Any hubbers have any experience with per day bike insurance?

[BaGearA]

Not for your own bike 

 

Lets say you're borowing a friend's, shop's demo bike then yes definitely

 

But for your own good , just get normal insurance the savings aren't worth the hassle of fighting with someone wheter it was turned on/off 

[ChrisF]

10 minutes ago, BaGearA said:

Not for your own bike 

 

Lets say you're borowing a friend's, shop's demo bike then yes definitely

 

But for your own good , just get normal insurance the savings aren't worth the hassle of fighting with someone wheter it was turned on/off 

 

Add to this the anecdotal stats from the stolen bikes section.

 

Most thefts are from home, where the day to day cover will most probably be off .....

 

 

Rather just add it to your other insurance, as a specified item.

[Nick]

My insurance offers daily but that's not really why I use them. The rates are decent and the convenient app.

Short answer, it depends how confident you are they won't get stolen when not in use. 

I'm too paranoid that my bikes will go missing from home which isn't covered while off, so the insurance remains on at all times. It also isn't truly daily. Even just 1 day a month has a fee close to half my premium. I've only ever turned mine off for two months while I was stranded at home (guarding them) after surgery.

It makes a little more sense for cars where the parked insurance (like theft) continues while the moving insurance is reduced.

[Zeffer]

It works well if you have a few bikes and your kids too. So you only switch it on over weekends for those bikes that you use. Works out significantly cheaper for me. Just remember to switch it off again......

[Jono]

It's not worth it. The idea of insurance is to have your bike covered for theft etc. See the stats in the article below...

https://bikehub.co.za/news/bike-theft-what-to-do-if-your-bicycle-is-stolen-r8476/ 

[AllezAllez]

I use JaSure for my bike insurance, which is a day-to-day cover, and they have been fantastic. I've had to claim twice in the past for accident damage from a crash, and a damaged frame, and they handled the claims so efficiently. Highly recommend them.

[Murrob]

I use JaSure, and while I have not yet needed to claim, have heard nothing but good things. Not sure if I am missing a trick, but the costs of running all risks through my current household and vehicles insurance is prohibitive to say the least. But I am covered under household contents if the bikes are stolen from the house. Then I activate the app for the respective bikes for all risks cover when out and about, which is significantly cheaper. 

[LazyTrailRider]

Per day cover - like any other customisable cover - is designed for very specific scenarios.

In my case, because I have multiple bikes, I use a combination of JaSure daily and standard household contents with Santam.

The bike I ride all the time (and which happens to be the cheapest of the 3) is permanently covered with JaSure because I don't want to be without it. Its replacement value is R42k and it costs me R160/month.

The other two bikes are both valued >R100k and I don't ride them nearly as much. Because of the high value, they'd cost a combined +-R750/month in addition to the R160. Not worth it to insure permanently for all risks for the few times I ride them.

But (and here's the important part)it's worth it switching on per day cover when I put them on the back of the car on a week-long holiday because the risk of them falling off the back (or someone driving into them) on a 1000km round trip is significant enough.

The rest of the time, if any of the bikes get stolen from the house, I'll claim through Santam as part of household contents. Yes, you can insure the same item twice, you obviously just can't claim twice.

[ChrisF]

1 hour ago, LazyTrailRider said:

Per day cover - like any other customisable cover - is designed for very specific scenarios.

In my case, because I have multiple bikes, I use a combination of JaSure daily and standard household contents with Santam.

The bike I ride all the time (and which happens to be the cheapest of the 3) is permanently covered with JaSure because I don't want to be without it. Its replacement value is R42k and it costs me R160/month.

The other two bikes are both valued >R100k and I don't ride them nearly as much. Because of the high value, they'd cost a combined +-R750/month in addition to the R160. Not worth it to insure permanently for all risks for the few times I ride them.

But (and here's the important part)it's worth it switching on per day cover when I put them on the back of the car on a week-long holiday because the risk of them falling off the back (or someone driving into them) on a 1000km round trip is significant enough.

The rest of the time, if any of the bikes get stolen from the house, I'll claim through Santam as part of household contents. Yes, you can insure the same item twice, you obviously just can't claim twice.

 

Maybe ask your Santam broker for an all risk cover for your two bikes at Santam.  Seems my Santam all risk cover on my two bikes costs less than JaSure.

[LazyTrailRider]

16 minutes ago, ChrisF said:

 

Maybe ask your Santam broker for an all risk cover for your two bikes at Santam.  Seems my Santam all risk cover on my two bikes costs less than JaSure.

The entire point is that I do not want these two bikes insured all the time, because the risk associated to them is only present for small periods of time.

Again, this is the "every scenario is unique" principle I started my post with. If you use a bike every single day, you have high risk every single day, so it makes sense to cover it every single day. If you only use a bike once a month, and its risk is close to zero the remainder of the time, it doesn't make sense to have it permanently covered. This is why JaSure has a market.

[The Ouzo]

20 minutes ago, LazyTrailRider said:

it doesn't make sense to have it permanently covered

well it does from a pure convenience point of view. If its covered ALL the time you dont have to remember to switch the cover on and off, its just there.

 

[Murrob]

25 minutes ago, The Ouzo said:

well it does from a pure convenience point of view. If its covered ALL the time you dont have to remember to switch the cover on and off, its just there.

 

You can schedule in the app when you want cover in place as well. So that helps if you are worried about forgetting to put it on for weekends etc

[LazyTrailRider]

32 minutes ago, The Ouzo said:

well it does from a pure convenience point of view. If its covered ALL the time you dont have to remember to switch the cover on and off, its just there.

 

Not just convenience, I prefer paying R250 every few months, rather than R750/month every single month.

Edited April 6, 2023 by LazyTrailRider
Typo

[LazyTrailRider]

6 minutes ago, Murrob said:

You can schedule in the app when you want cover in place as well. So that helps if you are worried about forgetting to put it on for weekends etc

I'm pretty sure a quick calc would show that switching it on every weekend would be significantly more expensive than permanent options. I doubt their model is designed for that (well, they'll make money out of it, but that's a different story), it's instead ideal for people like me who only need cover every once in a while.

[ChrisF]

14 minutes ago, LazyTrailRider said:

Not just convenience, I prefer paying R250 every few months, rather than R750/month every single month.

 

Which is what I was trying to say .... R100/month for the R50k cover, for full time full comprehensive cover, at Santam.

 

 

But hey, our situations differ, and thus there is a market for different types of insurance.