Miway Bike Insurance *#$%*!

[levett]

Outsurance - roughly 10% of the bike cost per annum!

 

So, 10k bike 1k per annum - 20k bike 2k per annum

 

Slightly cheaper for road bikes than mountain bikes (I don't know why?)

 

That's my experience of Outsurance quotes anyway!

levett2009-04-30 02:41:05

[scotty]

What i'm amused at is that often direct insurance companies who claim to be cheaper as they cut out the middle man, are more expensive than those not.

[porky]

What i'm amused at is that often direct insurance companies who claim to be cheaper as they cut out the middle man' date=' are more expensive than those not.

[/quote']

 

Yah, again assuming the customer is a fool.

 

In my opinion and experience, I stay away from cheap insurance, theres usually a very good reason its cheap - they dont pay claims.

 

Stick with the blue chip companies like Santam, M & F, SA Eagle etc  and you will never have issues.

 

I always remember that M&F advert where they said "If you want to know how good your insurance company is - CLaim."

 

Sage advice.!  

 

[TNT1]

 

What i'm amused at is that often direct insurance companies who claim to be cheaper as they cut out the middle man' date=' are more expensive than those not.

[/quote']

 

Yah, again assuming the customer is a fool.

 

 

 

Not all of them, just the ones wot bought R40k Raleighs...

 

[Stoffel76]

[quote name=porky

 

In my opinion and experience' date=' I stay away from cheap insurance, theres usually a very good reason its cheap - they dont pay claims.

 

Stick with the blue chip companies like Santam, M & F, SA Eagle etc  and you will never have issues.

 

[/quote]

 

Good advice!  As insurance brokers, we only use these guys but then obviously we can't use the direct guys (otherwise they won't be direct ).  It's true the direct companies are often cheaper, but then a Tata is cheaper than a Mercedes...

 

Cyclesure is underwritten by Zurich (used to be called SA Eagle).  Most of our clients put their bikes on the standard domestic policies, but I did investigate their product a while back.  Looked pretty good 

[ark]

CYCLESURE

NOW THIS IS SERVICE !!!!!

got a quote mailed to me in 30 mins.

R 20 000 replacement value = R 143/mnth

 

[scotty]

What i'm amused at is that often direct insurance companies who claim to be cheaper as they cut out the middle man' date=' are more expensive than those not.

[/quote']

 

Yah, again assuming the customer is a fool.

 

In my opinion and experience, I stay away from cheap insurance, theres usually a very good reason its cheap - they dont pay claims.

 

Stick with the blue chip companies like Santam, M & F, SA Eagle etc  and you will never have issues.

 

I always remember that M&F advert where they said "If you want to know how good your insurance company is - CLaim."

 

Sage advice.!  

 

I had home owners through M&F and found them excellent, unfortuately our company switched all our policies.  

[Trubie]

Ok ' date=' lets put them to the test.

Requested a quote from Cyclesure and Pedalcare.

I am with Outsurance now.

Will post results without the co's names when I have the quotes.

 

 

[/quote']

 

I asked for a quote on 2 bikes, Trek (R 30 000), Scott (R 6200)

 

Pedalcare - R 261.21

Cycle sure - R 232.33

Outsurance - R 244.33

 

Diff comes in with the excess payments, where both PedalC and Csure have a % of the claim, as opposed to a fixed excess with Outsurance, which can be positive if its a large claim, and negative when its a smaller claim (if that makes sense)

 

I now have a case to argue with Outsurance.

 

[LacticAcid]

SAME THING THIS MORNING, KEEPS YOU ON THE PHONE FOR 20MIN ASKING FOR ALL THE DETAILS IN THE WORLD. AND THEN SAYS THAT YOU HAVE TO TAKE HOUSE COVER AS WELL !!! .

gUARANTEED ALL MY INFO WILL NOW END UP AT SOME MARKETING CO!

[ark]

 

SAME THING THIS MORNING' date=' KEEPS YOU ON THE PHONE FOR 20MIN ASKING FOR ALL THE DETAILS IN THE WORLD. AND THEN SAYS THAT YOU HAVE TO TAKE HOUSE COVER AS WELL !!! .

gUARANTEED ALL MY INFO WILL NOW END UP AT SOME MARKETING CO!

[/quote']

 

 

 

yip , more irritating calls on their way.

 

[Minion]

 

Ok ' date=' lets put them to the test.

Requested a quote from Cyclesure and Pedalcare.

I am with Outsurance now.

Will post results without the co's names when I have the quotes.

 

 

[/quote']

 

I asked for a quote on 2 bikes, Trek (R 30 000), Scott (R 6200)

 

Pedalcare - R 261.21

Cycle sure - R 232.33

Outsurance - R 244.33

 

Diff comes in with the excess payments, where both PedalC and Csure have a % of the claim, as opposed to a fixed excess with Outsurance, which can be positive if its a large claim, and negative when its a smaller claim (if that makes sense)

 

I now have a case to argue with Outsurance.

 

Did you ask them for a document with the complete policy wording? When I did a comparison about a year ago, PC and CS had similar policy conditions, while Outsurance had a couple of restrictive clauses (I can't remember what, though) that made me reject them.

 

[TNT1]

Anyone try Hollard?

[Trubie]

Ed - Outsurance obviously realized that, and they have subsequently changed the conditions to include training, racing, transport, etc....

 

[rory21]

Again guys, go with a broker seriously. Its is his job to look after you and you have someone to rant at when things don't go your way. It might work out cheaper putting under your normal policy under all risk section (but damage whilst in use might be excluded, so beware). If your broker won't or can't do bikes on their own then send me a PM, because I can!

[porky]

 

 

 

 

Did you ask them for a document with the complete policy wording? When I did a comparison about a year ago' date=' PC and CS had similar policy conditions, while Outsurance had a couple of restrictive clauses (I can't remember what, though) that made me reject them.
[/quote']

 

Common problem with Outsurance, everyone will have horror stories about insurance and non payment of claims, but Outsurance seems to come up far to frequently in this regard for me.

 

 

[Speed Devil]

I have my household insurance with Santam. My bike is specified on my insurance policy along with my cameras etc.

My bike is valued at R37000 and I pay R207/mth and the nice part is that I don't have an excess when I claim on my bike