Bike insurance

[Sarge]

Hi Gents,

The cheaper option is the specified item on general household policy. I pay +/- R80.00 for 30k on a road bike. I have been assured that this is for any loss or damage at any time ( same as comp car insurance).

Regards

Sarge

[Cheese]

Agree with Sarge,

 

I am paying R30-00 for a R12K bike comprehensive incl racing.

 

The only problem I have is that I want to insure a R30K bike but can only dream about it but I am making plans to upgrade this year.

[Andrew T]

 

Cyclesure has served me well thus far' date=' but I am annoyed with their latest amendment: "we were forced to restrict theft to forcible and violent entry into your residence" which means theft out of your garage or if they break into the house while you are not there is not covered?

 

I have now gone to look for cover with another insurance company.

 

[/quote']

 

The "forcible" I get, that's cool, I mean you need to lock your sh*t up, right? But the violent? WTF? I'd question these guys on that one. You want the short term insurance ombudsman's details?

 

Spoke to Cyclesure. This clause requires that there be signs of intrusion and that they won't cover a bike that is left leaning against a wall or in the garage with the doors left open.

My take is it's pretty difficult to be forcible without being violent - you try to break a door down gently :-)

 

Full ensorsement text:

?It is hereby declared and agreed

that theft of your pedal cycle and / or accessories are restricted to

forcible

and violent entry or exit from your permanent place of residence or from

any

place where you are temporarily residing or any attempt thereat or as a

result

of theft following violence or threat of violence. This however will not

apply

if the residence or outbuildings where the pedal cycle and accessories

are

kept, is fitted with an alarm system which is connected to a 24 hour

radio

linked, fully manned armed response service. It is further more a

condition

that the alarm system is kept fully operational and that whilst the

residence

is unattended that the system is fully armed?

 

[JacoCronje]

After speaking to CycleSure, the clause is a mere clarification to bring their policies in line with other insurers. Equipment is covered if there was forced entry (breaking locks, windows, etc.) even if you do not have an armed response contract.

[TNT1]

Hang on, so what they're saying is that if you have an alarm, you don't need to lock your garage or whatever?

[Andrew T]

 

Hang on' date=' so what they're saying is that if you have an alarm, you don't need to lock your garage or whatever?

[/quote']

 

I'm not sure I'd bank on it but yes, if you can prove that armed response responded to a theft you are probably covered.

 

[TNT1]

True, you can't really be 100% certain with insurance companies, can you? Not that I'd leave my house unlocked, I just found their wording odd.

[mpcombrink]

 

Hang on' date=' so what they're saying is that if you have an alarm, you don't need to lock your garage or whatever?

[/quote']

 

I'm not sure I'd bank on it but yes, if you can prove that armed response responded to a theft you are probably covered.

 

Yes and no

 

You must always have "proof" of forced entry

 

[Perskepit]

Cyclesure, service is excellent

[The_Break]

As far as I know Cyclesure are the only company who covers whilst racing. I crashed in a race in Germany last year and 3 days later I had the cash in my bank to to the value of the local German bikeshop. Claim was over 10K so they are very serious about business and deliver when needed.

 

If your insurer claims to cover you in races and internationally then I suggest you get it from them in writing. Not your broker, the actual insurer, cause my previous insurers had fine print on that stuff which you do not see in the normal policy schedule of benefits.

[WR 1.0]

Hang on' date=' so what they're saying is that if you have an alarm, you don't need to lock your garage or whatever? [/quote']

I'm not sure I'd bank on it but yes, if you can prove that armed response responded to a theft you are probably covered.

 

All insurance companies have the visible forced entry clause when dealing with claims from outbuildings (such as your garage). This means you have to show where they broke the lock to get into the garage. If you have an alarm endorsement and you do not arm the alarm and suffer a break-in, your claim can be repudiated even if there is visible forced entry.

You usually only have to prove visible forced entry into your house if you are claiming for cash (for which you have limited cover anyway, usually less than R1000).

When insuring anything under the all risk/ portable possession section (also known as specifying an item) you usually enjoy cover for all eventuallities except if it is proven that you were negligent. Your cycles will be covered under the all risk section on your policy, giving you cover anywere in the world and for races unless it is a specific exclusion on your policy (usually only if you are a pro).

[The_Break]

If you work it out, if you loose your bike once in about 6-7 years then Cyclesure will be an even deal. I have already paid for 2 of those with my first claim.

[MtbDude]

 

Hi Gents' date='

The cheaper option is the specified item on general household policy. I pay +/- R80.00 for 30k on a road bike. I have been assured that this is for any loss or damage at any time ( same as comp car insurance).

Regards

Sarge

[/quote']

 

Where are you insured?

 

[FatBoyDrunk]

Do insurance companies cover for theft outside your house, say from outside a shop?

[SURFER]

Have you guys tried pedalcare.

 

www.pedalcare.co.za

[WR 1.0]

You would need to specify your bike and also prove that the bike was locked up (chained to something) outside the shop.  The term is "due care and precaution".