Jackson123 Posted August 28, 2015 Share Hi there all. Would like some assistance with regards to bicycle insurance companies, as I am considering moving from my current insurer. Which bicycle insurer do you make use of? Why do you make use of this specific insurer? How have they handled any claims that you have submitted before? Do you find that your monthly installment is reasonable considering your cover? Link to comment Share on other sites More sharing options...
Speeltyd Posted August 28, 2015 Share Using CycleSure - backed by Hollard. Have not claimed. R215 pm for R60k bike. Chose them because they specialise in Bike insurance, and their premium was fair Link to comment Share on other sites More sharing options...
Patchelicious Posted August 28, 2015 Share Hi, I am close to several of the cycling insurance specialist, UMAs as such. UMAs are not allowed to sell directly to the public, you need to go through a broker. This is the route that I would suggest you go. A broker will find you a deal that is best for you, and most importantly handle your claims for you. I have 3 bikes insured via my broker, think it is placed on M&F policy. R280k sum insured comprehensively for R700 pm. This is a very good rate though and took some doing. So in summary, get an independent broker, one that is not a tied agent. Even if the premium is slightly higher because of commissions, it will be worth it. Check that they are registered at the FIA. Link to comment Share on other sites More sharing options...
Patchelicious Posted August 28, 2015 Share Using CycleSure - backed by Hollard. Have not claimed. R215 pm for R60k bike. Chose them because they specialise in Bike insurance, and their premium was fairOwned by Hollard.... But they are a large business, so it is a safe bet. Link to comment Share on other sites More sharing options...
Spoke101 Posted August 28, 2015 Share Using Compendium (originally iCycle) - under written by infiniti (if I remember).Have not claimed since the buy-out but had no hassels claiming before twice.I pay R930.00 pm for R222k worth of cover (Bikes, helmet, glasses, garmin, racing wheels, shoes). This is for an "All Risks" policy which covers you for racing (even if you are Pro), training, travel, ect.I also get R1mill of personel liability and R20k medical evacuation plus emergancy medical advic and panic button.Chose them because they specialise in Bike insurance, and value for money was good. Link to comment Share on other sites More sharing options...
Winstonian1984 Posted August 28, 2015 Share With cyclesure. 2 claims, all paid out. Covered medical expenses when I crashed during knysna cycle tour(I think they only cover official events though). premium is around R300 for R55k cover(includes glasses, gps etc) all risk. From my personal experience, I cant fault them Link to comment Share on other sites More sharing options...
Lurch the stalker Posted August 28, 2015 Share Good to see the positive comments about Cyclesure.Got a quote from them in the week.Currently at Momentum I'm paying just under R800, and they quoted me just over R450, and I have been looking for the catch. Seems like they're just cheap... Link to comment Share on other sites More sharing options...
Oufy MTB (Roadie) Posted August 30, 2015 Share Bike got stolen, within 5 days, outsurance paid out no hassle Link to comment Share on other sites More sharing options...
Schnavel Posted August 30, 2015 Share Using Compendium (originally iCycle) - under written by infiniti (if I remember).Have not claimed since the buy-out but had no hassels claiming before twice.I pay R930.00 pm for R222k worth of cover (Bikes, helmet, glasses, garmin, racing wheels, shoes). This is for an "All Risks" policy which covers you for racing (even if you are Pro), training, travel, ect.I also get R1mill of personel liability and R20k medical evacuation plus emergancy medical advic and panic button.Chose them because they specialise in Bike insurance, and value for money was good.Also with compendium. Great rates and professional service. Covers you for everything. Stay clear of miway - I claimed twice over the period of 4 years for a total amount of less than my insured amount and they forced me to cancel my cover Link to comment Share on other sites More sharing options...
Patchelicious Posted August 30, 2015 Share Compendium is a brokerage that was partly owned by Hollard, but has now been acquired by Bidvest, so there might be product changes as Bidvest has its owned insurance license. The guys at Compendium are big into cycling though, which is always helpful.... Link to comment Share on other sites More sharing options...
PoiZoNouZ Posted August 30, 2015 Share I'm with the Garrun group. Got my bike insured for 30K and pay R105 per month, full cover. Link to comment Share on other sites More sharing options...
CleatsnCleavage Posted August 30, 2015 Share Just use your household insurer. im with PSG which i think is underwritten by hollard and they are affordable and paid out when i had a bike stolen from home. Link to comment Share on other sites More sharing options...
Patchelicious Posted August 30, 2015 Share Just use your household insurer. im with PSG which i think is underwritten by hollard and they are affordable and paid out when i had a bike stolen from home.PSG is also a brokerage, the majority of their household type policies are placed with Santam, MF and Hollard. They too now have a license through Western National. Link to comment Share on other sites More sharing options...
meloncholy01 Posted August 30, 2015 Share Using cyclesure, claims for a bike that was stolen after a burglary at our offices in December. They paid out in full. Paying around R200 for a 45k MTB. Premiums don't go up which is awesome. Link to comment Share on other sites More sharing options...
NGUTF Posted August 30, 2015 Share Using cyclesure, claims for a bike that was stolen after a burglary at our offices in December. They paid out in full. Paying around R200 for a 45k MTB. Premiums don't go up which is awesome.X2 Link to comment Share on other sites More sharing options...
BarryH Posted August 31, 2015 Share Just be very weary of anything underwritten by western national. Read the fine print, they don't like paying. I had a cracked frame, with three independent reports from cycle shops and they told me to go fly a kite. The bike was three years old, I unfortunately bought it second hand. I am now with PSG underwritten by Hollard. Link to comment Share on other sites More sharing options...
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