Bicycle Insurance - Help

[Shebeen]

have just had a not so straightforward claim settled by cyclesure - they asked a lot of questions, but did all the homework and once they had everything it was done and dusted.

 

sent the form for new bike today (I'm going through a broker - who is a cyclist, and has been excellent).

[DoubleJ]

I'm with Zurich through my Broker. 

 

Paying R95 per month for R40 000 cover (specified)

[Patchelicious]

So you can see, the common trend is GET A BROKER!!

 

Careful of anything where you are dealing directly with the people who share in or make Underwriting profits.

 

And if it seems cheap, ask yourself why! Insurance rates are very mature, and if one seems much cheaper than the next, it is because they have lowered their risk somehow, usually by excluding certain covers or tieing you into a certain claim process, or making you use one of their "approved" bike shop for replacements etc.

[madbradd]

I run mine through a broker who actually advised to take my bikes off specified risk and add the value to an unspecified all risk. The benefit of this is that you can insure multiple bikes for a lower cost as you will only be riding one at a time. So i looked at my bike wheels phone garmin value for an on ride event, then looked at my two most expensive bikes plus bike rack for an off the car event. Household theft is covered by household goods. So have 70k worth of insurance which covers anything under any non - negligence circumstances for R290.

[Help.Me.]

I run mine through a broker who actually advised to take my bikes off specified risk and add the value to an unspecified all risk. The benefit of this is that you can insure multiple bikes for a lower cost as you will only be riding one at a time. So i looked at my bike wheels phone garmin value for an on ride event, then looked at my two most expensive bikes plus bike rack for an off the car event. Household theft is covered by household goods. So have 70k worth of insurance which covers anything under any non - negligence circumstances for R290.

Please explain this to me in more detail because as i understand it Unspecified All Risk has got to do with clothing and personal belongings excluding a list of items like gps cellphone, laptops etc BUT max payout is 20% - 25 % per item ??......

[madbradd]

Please explain this to me in more detail because as i understand it Unspecified All Risk has got to do with clothing and personal belongings excluding a list of items like gps cellphone, laptops etc BUT max payout is 20% - 25 % per item ??......

It might be my policy, but the only limit I have on my policy is a R1000 per claim. Ie if I claim for my phone garmin bike and wheels as a single event, I pay the R1000 excess and get all my goodies back. I was advised that my policy does have a specifically good all risk cover. I'm with Echelon who are underwritten by Santam (iirc) and run my insurance through The Brokerage in case you are interested.

 

Again though, this is done through a broker which seems to be a common point in this thread.

[Help.Me.]

It might be my policy, but the only limit I have on my policy is a R1000 per claim. Ie if I claim for my phone garmin bike and wheels as a single event, I pay the R1000 excess and get all my goodies back. I was advised that my policy does have a specifically good all risk cover. I'm with Echelon who are underwritten by Santam (iirc) and run my insurance through The Brokerage in case you are interested.

 

Again though, this is done through a broker which seems to be a common point in this thread.

Thanks for the reply. Just make sure that you have got this in writing...... i am a broker and do have a lot of clients with Santam. I do not know everything because products do change a lot etc. this is very new to me. But i am sure your broker knows his stuff. Just get confirmation  in writing.

[Dicky DQ]

The big Yellow Umbrella has served me well. NOT cheap, but I have had may claims and never an issue. 

 

Edit - Also through a broker.

Edited August 31, 2015 by Dick

[Lurch the stalker]

So the bottom line is, who's got some really good brokers they can recommend?

[King Dean]

I use cyclesure.

I pay R264 p/m for 42k cover.

My previous bike was insured with them and when that was stolen they paid out in full in about 2 weeks.

I could probably get cheaper insurance somewhere else, but I'll stick to what I know.

[Wheelsuck]

Paid my dues with Cyclesure-would not use them again. Now with Garrun and had 2 claims no issues.

[HBO]

Guys just make sure that your policy does give ALL RISK cover.

 

The majority of insurers does not cover you when you fall and damage the bike, whether it is just by normal riding and/or during a race.

 

There are only a few that provides cover  for this and only exclude professional use.

[Lurch the stalker]

I guess I can tell everybody over the next few days how good Momentum is since some jackass took me out on the road bike this afternoon.

(Fortunately no serious damage to me, but my bike took some damage, fork snapped on both sides, wheel probably needs to be replaced, and I am sure some other damage that isn't visible...)

[Boerklong]

I guess I can tell everybody over the next few days how good Momentum is since some jackass took me out on the road bike this afternoon.

(Fortunately no serious damage to me, but my bike took some damage, fork snapped on both sides, wheel probably needs to be replaced, and I am sure some other damage that isn't visible...)

Glad you are okay

[Lurch the stalker]

Glad you are okay

Thanks.

The guy who hit me can be glad he is ok because it took all my restraint not to moer him when he tried blaming me. (I had right of way and he turned in front of me...Needless to say, I gave him a very 'colourful' description of what I thought of his driving ability and the nonsense that was coming out of his mouth,..)

[DJpak]

Cyclesure!!!

 

I joined them and just next day i fell-_-;;;;

That's so unfortunate but they paid all!!!!

That's more than 20k...

 

Of course i pay a lot. But i feel much safer