Naked insurance claim

[Zatek]

The downtube and rear triangle is not fracture. The rest has gotten fractures and saddle is broken and some other issues as well.

Edited May 16 by Zatek

[Zatek]

So RAW provided feedback at about 15:00 today so the claim is going back to Naked for approval again at the underwriters.

[Lynskey]

Good luck. Sounds like things are happening at last. 

[Zatek]

According to Naked it was presented to underwriters but now it must be signed off and it apparently it is marked as urgent (don't think I will comment on this one). 1 month and 6 days since claim was submitted.

[Zatek]

Naked and RAW decided only the wheels are covered as the rest is due to wear and tear (carbon fractures on 2 deferent places) over the years. My Look pedals are bent but according to RAW is normal wear and tear after sending the videos and Look Internasional confirmed it was not due to wear and tear. 

No mention of my saddle that broke as well.

[Dusty]

58 minutes ago, Zatek said:

Naked and RAW decided only the wheels are covered as the rest is due to wear and tear (carbon fractures on 2 deferent places) over the years. My Look pedals are bent but according to RAW is normal wear and tear after sending the videos and Look Internasional confirmed it was not due to wear and tear. 

No mention of my saddle that broke as well.

 

You now have a fight on your hands.

[Dusty]

One thing I have learnt over the years is that when putting in an insurance claim for a bicycle, it is worth giving the bike a thorough cleaning and some spit and polish before making the claim. My experience is that some assessors don't know bikes, and equate dirt to wear and tear.

Edited Tuesday at 09:12 AM by Dusty

[Edereese]

I am with Naked and have no issues with them.. On the wheels, you can only claim what you're insured for as mentioned earlier in the post. As far as second hand bicycles go, people have a tendency to buy a bike for 5K, insure it for 30K as the model is no longer available and ultimately the claim becomes an upgrade... sad but true.

In your case, I would suggest to wait for the outcome and if not happy, approach Naked internal ombudsman and state your case, there job is to put you in the same position that you were. If your insured amount is higher vs what you actually paid, then it becomes tricky because you then over insured the item.

 

[Bub Marley]

2 hours ago, Zatek said:

Naked and RAW decided only the wheels are covered as the rest is due to wear and tear (carbon fractures on 2 deferent places) over the years. My Look pedals are bent but according to RAW is normal wear and tear after sending the videos and Look Internasional confirmed it was not due to wear and tear. 

No mention of my saddle that broke as well.

 

How are the wheels covered when they dont belong to you?

 

Comical this 🤦🏻‍♂️

[Zatek]

RAW did a revision to their report. Back to waiting again 

[Lynskey]

What a circus. We live and we learn. 

[SSCC]

4 hours ago, Edereese said:

If your insured amount is higher vs what you actually paid, then it becomes tricky because you then over insured the item.

 

The insurance is for replacement value not what you paid for it. If you buy a used bike for R20k that costs R40k new you need to insure it for R40k. 

[RobynE 🚵‍♀️]

Just because something is old/was free, doesn’t mean it isn’t worth today’s money. You must be put back in the position you were in before the incident. So if your 10 year old bike is stolen/wrecked, it is replaced with like for like in terms of its parts, less your excess. 

My own claim with Old Mutual was for a wrecked American Classic rear rim. It’s discontinued (the whole brand) and the hub and freehub body is proprietary. So the damaged rim was replaced with the value of a new wheel build including hub etc as per LBS quote, less excess. It was paid out to me, so I bought a set of Spanks second hand because I didn’t want mismatched rims. Should something happen to the Spanks they would be replaced in the same manner. 

I know some insurers insist that you specify everything, provide slips and receipts etc. That’s why we chose to go with a broker, because when we had a home invasion some years back Outsurance wanted “proof” of everything we claimed and made us feel like criminals; an assessor sitting in our house checking slips and taking photos etc. despite us having frequent Outbonus payouts, infrequent claims, etc. Our hundreds of thousands of rands of premiums and our claim history over the years meant nothing the moment we claimed. If we didn’t have an invoice or a photo of the item, it was excluded. It took 6 weeks for us to get back the value of probably 50% of our loss. 

Broker all the way for us.  

[cadenceblur]

Every item / component on my bicycles is specified with a clear pic of each - in come cases with serial numbers for this exact reason.

[Mongoose!]

10 hours ago, RobynE 🚵‍♀️ said:

...snip... You must be put back in the position you were in before the incident....snip

always wondered on the issue with carbon repairs.

You have a small incident with your $$$ insured S works.

The over eager insurance assessor (keeping his / her X mas bonus in mind) recommends your frame must be repaired and not replaced. Mentioning a carbon expert accredited with Nasa aerospace division / doing part time consulting for F1 and lifetime warrantee on its work (situated in Brakpan). 

You receive your bike back. There is a difference in owning a S work bike and owning a S works carbon repaired (this part was resprayed) bike 👀

Just try selling a repaired bike here on Bikehub..

Maybe one has to carefully read through the fine print of policy..."must be put back in the position you were in before the incident excluding resale value"...? excluding weight difference - Jip your repaired SL8 S works frame will be slightly heavier than the non repaired one. Yes the interference with the carbon layup on repaired area will / might have an impact... depending on how resistant you are on cycling marketing and bias YouTube videos  🙃

In the automotive world "panel beaters" are replaced with "panel replacers" One small mark on a panel of an insured vehicle and it will be replaced... (yes car panels are made of metal and not carbon 🤷‍♂️)

Any thoughts 

Should we accept carbon repairing instead of replacing from insurance companies? 

Anyone had a claim where replacing was rejected and repaired and insurer convinced you that the repair is "just as good or better" than it originally was.

 

 

 

[Tomik]

2 hours ago, Mongoose! said:

Any thoughts 

Should we accept carbon repairing instead of replacing from insurance companies? 

Anyone had a claim where replacing was rejected and repaired and insurer convinced you that the repair is "just as good or better" than it originally was.

 

 

 

I guess it depends on where the crack is and how bad it is. And yes, the value of the bike. But saying that, the end value will be diminished by the repair, so one isn't in the same position.

I had to fight this exact thing with Santam and RAW. They insisted on repairing my '22 BMC Team Machine SLR1 frame (equivalent to an S-works) which cracked on the chainstay after an impact (another rider rode into me from the side). BMC said no, I said no, RAW/CBR said yes, we fought a bit and eventually we settled on a frame replacement (which I had to source locally and could only find a '18). For me, that is close enough to the same position and I accepted the potential loss to be able to ride this fantastic bike again. I would not have been comfortable with a repaired frame going down Suikers at 70+kph.

This process took 6 weeks.  I'm no longer with Santam.