Bike insurance

[Bradleyfly]

Hi there,

can someone please assist me on bike insurance - some recommendations.

i need one that will cover a comprehensive and damages of parts like derailer, rims shocks parts etc.

 

any advice would be appreciated I’m with FNB and they will cover me but their exclusions seem a bit too dodgy and a little excessive to be honest 

[BaGearA]

You get what you pay for 

 

Looked at naked and pineapple but they way in which they work felt wayyyy to dodge. 

 

With a broker that works through cyclesure, paying just under 700 for 160k bike comprehensive on comprehensive 

 

I'm covered for stuff I thought insurance would never cover, found this out when i mailed about change of address and how the bike would be stored ( some insurers are insanely specific about this so don't cheap out on a padlock and then its a cheap excuse for them not to pay out ) 

[Alouette3]

Mine is added to my DIscovery household insurance as a specified item with an elected value. Claimed for some trail damage and they paid out. 

[Robbie Stewart]

Santam. Specified for purchase value all risk. I've had claims for wheels and a fork, and they were paid out no questions.

[Zack V]

There is a way to group your bikes together under discovery if you have multiple. Principally it's based on the risk of you losing/crashing more than one bike at a time is significantly less than the one policy one bike approach. It's worth looking into.

[Milosh]

3 hours ago, Zack V said:

There is a way to group your bikes together under discovery if you have multiple. Principally it's based on the risk of you losing/crashing more than one bike at a time is significantly less than the one policy one bike approach. It's worth looking into.

I use JaSure , Now Santam switch 

You load all your bikes and switch on the insurance when you use it.

This assumes your storage is safe and secure so low risk.

I like the grouping idea though 

 

[WR 1.0]

5 hours ago, BaGearA said:

You get what you pay for 

 

Looked at naked and pineapple but they way in which they work felt wayyyy to dodge. 

 

With a broker that works through cyclesure, paying just under 700 for 160k bike comprehensive on comprehensive 

 

I'm covered for stuff I thought insurance would never cover, found this out when i mailed about change of address and how the bike would be stored ( some insurers are insanely specific about this so don't cheap out on a padlock and then its a cheap excuse for them not to pay out ) 

Naked is backed by Hollard ( as is Cyclesure). Had my car insured with them and had no issues when I wrote it off in April.

 

to the OP, I'm assuming you are with FNB Insure ( direct) adn not through their Brokerage? The Brokerage places business with Santam and Hollard ( and others off platform). Or approach another broker ( corporate brokers such as AON, Indwe, ect usually has good offerings) , there are others that support cycling ( just look at some of the sponsor logos on the pro's kits  - Efficient Insure, TIG, etc)

[RoadNoob6]

I had an excellent experience with Cyclesure, stayed with them for years. Always great service, friendly team, quick responses.

 

Claimed, and they did not treat me like a criminal but rather sympathised and helped me understand what they needed in terms of evidence to process the claim. Got my bike repaired, resprayed, and rebuilt.

 

Would highly recommend.

[JohanDiv]

Try to get onto the Santam Executive package. Then you don't have to specify any bikes or electronics.. Just write down all serial numbers and take photos or get your bikes valued by a bike shop to prove ownership and worth if you have to claim. I was paying close to R3k by specifying everything prior.

Now I'm paying R1450 per month for my house insurance and everything inside, including all electronics and bikes without having to specify anything on the Executive plan. 

They have been exceptionally great for me. 

In the last three years I had to claim a carbon bike wheel that melted and deformed because of the exhaust on the back of a Fortuner (R20k), another carbon wheel that got damaged in a crash (R20k), and a fork (R27k) also from a crash where a rookie on an e-bike caused a head-on collision descending down the mountain at high speed, wrong side of the road, around a blind corner. 

All paid out with minimum hassle and monthly premium has stayed unchanged.

[Dexter-morgan]

I am with Outsurance, never had an issue with claims, 

[Sprockets]

I am travelling for the next 2 weeks abroad. I insure my one bike with Santam Switch (Jasure), but would it be advisable to take out a months insurance package for the other bike I will be taking with me? 

[Bradleyfly]

I have opted to add it to my insurance with FNB - I listed it as a competitive bicycle not bicycle thats where they going to nail you if you claim. If you have insurance cover for contents home etc. add it as a competititve bicycle, it came in nearly half as to what Santam switch wanted to charge me, which was R91 a day 

[Bradleyfly]

On 6/13/2024 at 11:43 AM, Milosh said:

I use JaSure , Now Santam switch 

You load all your bikes and switch on the insurance when you use it.

This assumes your storage is safe and secure so low risk.

I like the grouping idea though 

 

ive tried this it works out to R91 a day about 6 trails a month works out to be quite a bit 

[Milosh]

37 minutes ago, Bradleyfly said:

ive tried this it works out to R91 a day about 6 trails a month works out to be quite a bit 

 It is a sliding scale

On R59 k 

1 day R99 

2-3 R131 

4-7 R163

8-15 R195 

16 +  R227