fourbar Posted June 21, 2007 Posted June 21, 2007 Advice please... which insurance company(ies) for the best results regarding one's full cycling kit (bike included, of course!)
fandacious Posted June 21, 2007 Posted June 21, 2007 I took my cyclesure quote and gave it to my broker. He beat it by about R100 / month.... And i've never ever ever had any problems claiming from my insurance..
fourbar Posted June 21, 2007 Author Posted June 21, 2007 Fandacious: thanx for the reply. Did your co. insure the bike specifically, i.e. frame by brand/model, pedals, wheels etc. If so, may I ask which co it is?Fb.
fourbar Posted June 21, 2007 Author Posted June 21, 2007 slowpoke: premium compared/short term insurers? I'm scared of these &*^%$$'s that take your money and when you have a real loss, they decide what you had and did not have...
fandacious Posted June 21, 2007 Posted June 21, 2007 Yep. I specified my road bike, my MTB, my easton vista wheels, my garmin forerunner training computer. Its currently with Santam, but i dont deal with santam directly. I deal with a middle man. He does ALL my insurance. Car, business, personal. everything....
Delgado Posted June 21, 2007 Posted June 21, 2007 the best one will be the one that provides the widest cover for an optimum premium. i.e. compare coverage definitions and exceptions carefully. i.e. you may save R? in premium but the new lot don't cover racing related losses then what's the point? CAVEAT EMPTOR!!
slowpoke Posted June 21, 2007 Posted June 21, 2007 fourbar, cyclesure is underwritten by sa eagle and i've not yet had a problem. my household stuff and car is also with them and i had no hassles with the burglary claim and although the car claim took a little long to be paid out, the excess wasn't a killer. i was in short term (domestic or householders) insurance for 8 years of my life so i read the fine print from the "general terms and conditions" through to the individual sections and the SA Eagle wording for the cycle product is the same as goods in transit cover - ie it is covered for everything from training to racing from theft to accidents to forgeting the bike on the roof carrieer and driving into the garage (luckily i don't need to worry about that - too short to ever use a roof carrier!) my accessories are specified (including my cycling glasses and one set of kit) and after my shova accident i got reimbursed the invoice from linden cycles re replacement of bar tape etc etc and the cost of my bolle's (which were left on the road somewhere while i was being packaged into the ambulance)
fourbar Posted June 21, 2007 Author Posted June 21, 2007 Delgado: exactly my point. These matters/conditions of risk acceptance and the conditions under which it occurs must be disclosed in the fine print before you sign...
Delgado Posted June 21, 2007 Posted June 21, 2007 Delgado: exactly my point. These matters/conditions of risk acceptance and the conditions under which it occurs must be disclosed in the fine print before you sign... ...then arrange your coverage through a competant broker i.e. not one with a faceless call centre. Then they are obliged to explain the cover details, limitations etc. to you. Their failure to do so or if they give you incorrect advice is regulated by law now under the FAIS act and you can seek redress through the Ombud!!
slowjoe Posted June 21, 2007 Posted June 21, 2007 I took my cyclesure quote and gave it to my broker. He beat it by about R100 / month.... And i've never ever ever had any problems claiming from my insurance..  Be very sure whats covered. Outsurance was prepared to cover my bike against theft, damage in transport and training ... BUT there is no coverage whenever I race. Cyclesure rocks, my buddy crashed at suikerbosrand, they paid for replacing every little part that was even just scratched.
mdk555 Posted June 21, 2007 Posted June 21, 2007 I am insured by Auto and General but I must emphasize that you must be specific + negotiate about the bike and that it is not used for racing.  I have claimed once when my bike (and friends) was stolen in Ceres 2003 - got it back after offering a no questions asked R 1000.00 reward. The cops spread the word and said that besides our bikes they have never recovered so many stolen bikes at one time (all after reward). I claimed for a damaged speedo, cassette (dunno how they stuffed it up) and the R 1000.00 reward. They paid out in full with no excess deducted because I made an effort to get my bike back. Went for a little tumble on Sunday and will be submitting a claim for a new rear deraillure, STI's, speedo, back wheel and 1st accent rain jacket. Will let you know the outcome.mdk5552007-06-21 08:31:36
fourbar Posted June 21, 2007 Author Posted June 21, 2007 Thanx to everyone who has replied in the meantime!Looks like we're going to discover some interesting stories on this one and that the old rule will eventually prevail... consumer-BEWARE!Please share or re-direct us to previous discussions in this regard.It also becomes clear that one should opt for a broker rather than faceless call centre quotes, insist on clear, understandable definitions of what's in and what's out, insist to be told and shown all conditions of insurance and to remember that the Ombudsman is also there...Which makes me think- does'nt the ombudsman originate from the industry and will he/she be impartial/fair in assessments...? Â
The Saint Posted June 21, 2007 Posted June 21, 2007   Be very sure whats covered. Outsurance was prepared to cover my bike against theft' date=' damage in transport and training ... BUT there is no coverage whenever I race. Cyclesure rocks, my buddy crashed at suikerbosrand, they paid for replacing every little part that was even just scratched.[/quote'] Spoke to outsurance today they would cover me for everything including racing. However in order for me to get exclusive Bicycle insurance with them I have to first have my Household goods insured with them as the "exclusive bicycle insurance" is considered as an add on. Going to go with Cyclesure they were a little more expensive than Outsurance but having to move my household insurance across to them will work out to a larger monthly premium. Got a question - on the cyclesure form they want the frame serial number, I have an RC 8000 frame where would I find this number?Â
FanieFiets Posted June 21, 2007 Posted June 21, 2007 My insurance = SA Eagle. Paid out one bike - no problems. Covers everything including race. They underwrite Cyclesure. Monthly premium = Sum assured*.06/12 thus R 20 000-00 bike will cost me R 100-00 per month. Â
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