iRob Posted December 7, 2010 Share @#$^&^%$#@!!!! (deleted)... How is it that a friend I work with pays R10 for an admin fee and I pay R65/month? The R65 is 20% of my monthly premium as opposed to 7% on his?!?!? And his insured value is more then mine? MiWay is (deleted) in getting back to me on this. As far as I'm concerned you guys (deleted)! Edited December 7, 2010 by iRob Link to comment Share on other sites More sharing options...
Just Keep Pedaling Posted December 7, 2010 Share They can really pirce gouge you if you are not careful. Commissions are regulated. No more than 15% on personal lines. Admin fees are not regulated and they can charge whatever they want. Direct insurers like Miway also have a claims repudiation ratio of 6%-8% while tradional insurers are in the 1% to 5% range. Link to comment Share on other sites More sharing options...
RodTi Posted December 7, 2010 Share Those are some interesting stats. Link to comment Share on other sites More sharing options...
iRob Posted December 7, 2010 Share They can really pirce gouge you if you are not careful. Commissions are regulated. No more than 15% on personal lines. Admin fees are not regulated and they can charge whatever they want. Direct insurers like Miway also have a claims repudiation ratio of 6%-8% while tradional insurers are in the 1% to 5% range. Excuse my not understanding insurance speak... does this confirm that they (deleted)??? Edited December 7, 2010 by iRob Link to comment Share on other sites More sharing options...
iRob Posted December 7, 2010 Share ok so it means they reject 6-8% of their claims. That is (deleted). "MiWay says they believe this is unfounded." Edited December 7, 2010 by iRob Link to comment Share on other sites More sharing options...
dirtrider Posted December 7, 2010 Share By making sure that you follow the rules you should not be falling into that 6-8% thats does not get paid ! I am surprised at the ignorance shown here !! Do you really think that every claim gets paid out ? Even that claim you have put in after you have sold your MTB to your buddy for booze money ? Link to comment Share on other sites More sharing options...
Vetseun Posted December 7, 2010 Share I responded twice to their advertisment. Until today I am still waiting for somebody to call me back. Mi Way you can take your business and shove it up your bum. Link to comment Share on other sites More sharing options...
iRob Posted December 7, 2010 Share I responded twice to their advertisment. Until today I am still waiting for somebody to call me back. Mi Way you can take your business and shove it up your bum. They (deleted). And I'm insured with them. Edited December 7, 2010 by iRob Link to comment Share on other sites More sharing options...
Reg Lizard Posted December 7, 2010 Share Time to move then Link to comment Share on other sites More sharing options...
AndreZA Posted December 7, 2010 Share I've had nothing but good service from them. I even got a cycling shirt out of them. Premiums are good and I have 2 cars, house, 2 bikes and camera equipment on my policy. Link to comment Share on other sites More sharing options...
iRob Posted December 7, 2010 Share Time to move then I joined yesterday. @^^%#$%^&^ Link to comment Share on other sites More sharing options...
iRob Posted December 7, 2010 Share It is shocking. Now they say they are going to make his R65/month as well. (deleted) Edited December 7, 2010 by iRob Link to comment Share on other sites More sharing options...
Reg Lizard Posted December 7, 2010 Share I joined yesterday. @^^%#$%^&^R u with Cyclesure now Link to comment Share on other sites More sharing options...
MTB_Roadie Posted December 7, 2010 Share We are with Santam, always got good service, claimed a few times before...so yea...these easy fast insurance is not always the best Link to comment Share on other sites More sharing options...
Reg Lizard Posted December 7, 2010 Share We are with Santam, always got good service, claimed a few times before...so yea...these easy fast insurance is not always the best Yip must agree, Santam is one of the trusty ones- claimed for some new appliances after one of the geysers at the business premises burst on last week Monday and today the new appliances were delivered, no questions asked. Edited December 7, 2010 by Reg Lizard Link to comment Share on other sites More sharing options...
iRob Posted December 7, 2010 Share We are with Santam, always got good service, claimed a few times before...so yea...these easy fast insurance is not always the best Do they cover races? My household stuff is through Zurich, but they do not cover races and I ws with them until I realised Sabie is too big a risk to not have race insurance. Link to comment Share on other sites More sharing options...
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