chris_w_65 Posted February 23, 2011 Posted February 23, 2011 My insurance excludes races so they suggested I go to another insurer for my bike I got a quote from Cyclesure but just want a couple more to compare. Am I correct that Outsurance will insure just my bike and kit without my household policy? What about Alexander Forbes? Will they do just the bike? Any of the above that I should avoid? Thanks
Face Plant Posted February 23, 2011 Posted February 23, 2011 speaking under correction but i think its just cyclsure and miway that cover you during races
Bums Posted February 23, 2011 Posted February 23, 2011 And Compendium, they are the cheapest on household and cars (but not far off) they insure you most expensive bike for free if your policy is over R1000 p/m and then you pay 25% insuance for your other bikes. Someone like me that only has 1 car on the insurance and 4 bikes valued at over R30 000 they were R250 p/m cheaper than anyone else. And the bikes are covereed for races and crashes
chris_w_65 Posted February 23, 2011 Author Posted February 23, 2011 And Compendium, they are the cheapest on household and cars (but not far off) they insure you most expensive bike for free if your policy is over R1000 p/m and then you pay 25% insuance for your other bikes. Someone like me that only has 1 car on the insurance and 4 bikes valued at over R30 000 they were R250 p/m cheaper than anyone else. And the bikes are covereed for races and crashes Do you have a broker for Compendium? Please PM me his/her email address and I will try them. Have you ever claimed for anything? Dod they pay out no problem?
chris_w_65 Posted February 23, 2011 Author Posted February 23, 2011 speaking under correction but i think its just cyclsure and miway that cover you during races Thanks, I didn't think of miway
Minion Posted February 23, 2011 Posted February 23, 2011 Outsurance do cover during races. They insure it under the Out and About policy which can be separate from other insurance. Their premiums are higher, but their excess structure is different: Outsurance has a flat R450 excess, while Cyclesure has a variable excess that can be as much as 15% for certain claims such as theft/hijacking or wheel damage. Miway has an upper limit of R80k, above which they will not cover the bike.
chris_w_65 Posted February 23, 2011 Author Posted February 23, 2011 Anyone have an email address for a broker at Alexander Forbes? The one I have is not responding. An advantage of me moving all my insurance to them is that they will cover my superbike on track days, not many companies do that. I would have to check with them that they cover bicycles in races
patches Posted February 23, 2011 Posted February 23, 2011 Outsurance will insure your bike and kit for everything (damage/loss during races, training, social rides and transportation) without the household policy, provided your monthly premium is over R100pm. Here's the info:http://www.outsurance.co.za/personal/other-insurance-products/bicycle/ I'm with them, and I'm very pleased with the service! Had 1 claim to date and they were rockstars!
patches Posted February 23, 2011 Posted February 23, 2011 Outsurance do cover during races. They insure it under the Out and About policy which can be separate from other insurance. Their premiums are higher, but their excess structure is different: Outsurance has a flat R450 excess, while Cyclesure has a variable excess that can be as much as 15% for certain claims such as theft/hijacking or wheel damage. Miway has an upper limit of R80k, above which they will not cover the bike. ummm... I'm with Outsurance and my excess is at R270.
wisecrack Posted February 23, 2011 Posted February 23, 2011 I'm considering cancelling with my policy with cyclesure. Paying 15% excess on a wheel claim which came to R1600 payable by me have let me to reconsider my insurance options. If I cancell with cyclesure after just having claimed will Outsurance charge me a higher premium?
Minion Posted February 23, 2011 Posted February 23, 2011 (edited) ummm... I'm with Outsurance and my excess is at R270.OK, it's probably dependent on what the insrued value of all your stuff is.It could also be based on individual risk profile. Edited February 23, 2011 by Edman
Edge_Design Posted February 23, 2011 Posted February 23, 2011 ummm... I'm with Outsurance and my excess is at R270. Excess or premium?
Boris Posted February 23, 2011 Posted February 23, 2011 Try Indwe Risk insurance brokers underwritten by Santam and Orico , Shumi is my broker 0219745200 they insure when races or training .They will probably want to do a package deal for you as would bring down your premiums. Payouts very good approx 3days. I can highly recommend them and would stay well clear of outsurance ! just my two cents worth .
patches Posted February 23, 2011 Posted February 23, 2011 (edited) OK, it's probably dependent on what the insrued value of all your stuff is.It could also be based on individual risk profile. It could be.My bike is insured for a replacement value of 30k (not that much. It was evaluated at 50k, but the premiums were way high. Still with same excess though), Oh and I've insured 3k worth of gear... So yeah... not too high value... but my risk rpofile should be high though... I'm 25yrs old riding a DH bike. Pretty high risk. One of the reasons I went with outsurance... most others won't insure DH bikes for anything other than theft. Excess or premium? R270 is my excess. My premium is R285pm Edited February 23, 2011 by patches
TCTG Posted February 23, 2011 Posted February 23, 2011 There is Auto and General, Santam and Momentum Short term insurers. It depends if it si bike only then you need to go the Cyclesure route, but I had no problems with any claims for any of these insurers for clients of mine. PM me if you want me to send you an app?
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