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Thread: Bike Insurance

  1. #1
    Evil Biker Scum eDs's Avatar
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    Default Bike Insurance

    Im sure this has been asked a lot but might be outdated so ill ask again seeing that the newest post dates back to 08-09-2009. I used to be with MCCrystal but when my bike was stolen and i got it back the next day they wanted to ask me 4000 basic excess and another stolen excess and something else and it came to almost 9000 where my damage was about r2500 so i repaired my sv myself that time. I now got new insurance on the king with ABSA idirect and pay around r400 a month with r2150 excess. Has any body dealt with them when it comes to claims etc. Any hidden excesses or something I should know about now and possibly change to another insurance company before I need to claim one day and have any surprises. Maybe there is better insurance out there? I have only a learners, been riding for almost two and a half years and my King is insured for R90K. Thanx for ya replies...

  2. #2
    Hooligan Biker davaro's Avatar
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    If you want to, send me a PM with details and I will give you my email address.

    I would be happy to look at your documents and give you advice.
    Life begins @ 40
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  3. #3
    Capt Grumpy - The Comedian
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    To answer your question, it is good policy on your part to shop around and to make sure you know what you are getting. You are not ther only one to be caught out by,

    Learner excess
    First 120 days of insurance
    Percentage with minimum
    Theft excess

    and , and , and

    It does get confusing. I would advise that you go through a Broker rather than direct.
    Spent my therapy money on a K1200S
    Therapy must have worked, bought a GS
    Insanity crept back in, in the shape of an R1200R

  4. #4
    Budah
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    How's the history/experience with the company referred to in the folk song ''die Kaap is mos weer H.....'' they gave me a very competitive quote recently and I am tempted to shift my whole portfolio. Also ask for an ''access waiver'' to be included on your policy. This is the stuff you normally only find out afterwards when the access is due.

  5. #5
    Evil Biker Scum KCS's Avatar
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    Quote Originally Posted by Stranger View Post
    I would advise that you go through a Broker rather than direct.
    This is very good advice. Never deal direct. When the popo hits the fan it is you against their in-house lawyers. They will eat you for breakfast. A good broker is worth his or her weight in gold when it comes to dealing with insurance companies.

    Cheers

    KC

  6. #6
    Hooligan Biker davaro's Avatar
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    Quote Originally Posted by KCS View Post
    A good broker
    Yes, that's the key. The problem is these days a lot of brokers are more interested in the comm than the clients interests.

    If you know nothing about insurance then by all means, get a broker. But PLEASE get a reputable broker by at least getting references from others also covered through that broker. In my experience, the smaller the broker, the better the service you get. Stay away from the huge guys.

    If however you are moderatelycontract savvy and can read a contract at least, there is no harm in going direct. The key there is when you speak to them, LISTEN and answer all questions correctly. DONT listen to your mates that say "its cheaper to insure it on your dads name as driver" etc... It's there that most people get hit in the butt. Getting advice from mates.
    It is just plain WRONG to say "never deal direct" - If you do everything correctly, there is no reason for any poo to hit any fans...

    However, judging from your question - you obviously have very little experience in STI and thus finding a reputable broker would be a very good call. As a start.

    Good luck anyway
    Last edited by davaro; 04-04-2011 at 03:25 PM. Reason: Took out a poor choice of words...
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    Evil Biker Scum Eend's Avatar
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    It's fine to go direct, just don't go to Dial Direct! They were ripping me a new one each month with a premium of R1300 per month. Got a few quotes from here and there and eventually settled with Outsurance at R450 a month!!! My excess is R2000 and that's it - no percentages, no extra fine print - just the excess and that's it.

    So far so good.
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  8. #8
    Hooligan Biker davaro's Avatar
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    Quote Originally Posted by ianmp View Post
    It's fine to go direct, just don't go to Dial Direct! They were ripping me a new one each month with a premium of R1300 per month. Got a few quotes from here and there and eventually settled with Outsurance. My excess is R2000 and that's it - no percentages, not extra fine print - just the excess and that's it.

    So far so good.
    Thats also cool. However, whats good for you does not mean its good for everyone.

    All of the direct insurers essentially operate the same. Shop around.

    You may well find that Outsurance is more than what YOU will get at Dial Direct etc... The thing is, they use their own methods of calculating premiums and quite often you find HUGE differences for individuals.

    The service etc. are all pretty much the same at the direct guys.

    One thing I can say, is the claims turn-around at the direct guys is quicker than at the broker guys...

    Not saying they are better, just that there are usually three sides to this debate.

    Broker says
    Direct Says
    Truth
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  9. #9
    LastMinute.Com Vixen's Avatar
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    I have a wonderful broker. you can PM me for his details. I will never deal directly with an insurance house, and the measly amount of commission a broker makes off an individual is priceless when it comes to processing a claim.....

  10. #10
    Evil Biker Scum eDs's Avatar
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    Quote Originally Posted by KCS View Post
    This is very good advice. Never deal direct. When the popo hits the fan it is you against their in-house lawyers. They will eat you for breakfast. A good broker is worth his or her weight in gold when it comes to dealing with insurance companies.

    Cheers

    KC
    KC,

    The problem is that with the problem explained in my first post it was done through a broker and they were useless. I asked iDirect if they have excess waivers but they dont Ill phone around a bit and check the BikeSA for contacts or something and see what I can come up with

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    Evil Biker Scum eDs's Avatar
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    Quote Originally Posted by Vixen View Post
    I have a wonderful broker. you can PM me for his details. I will never deal directly with an insurance house, and the measly amount of commission a broker makes off an individual is priceless when it comes to processing a claim.....
    PM Sent

  12. #12
    Evil Biker Scum HeftyCrab's Avatar
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    +1,dont underestimate outsurance.my dad used them for many a yearwand has never had issues claiming, but thats with a cage.otherwise find a good broker.

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    There are other threads on TB about bike insurance companies and so forth, but would anyone be prepared to forward the names of any really decent brokers?

    At 12,000 RPM no one can hear you scream.

  14. #14
    Evil Biker Scum eDs's Avatar
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    Quote Originally Posted by Aceius View Post
    There are other threads on TB about bike insurance companies and so forth, but would anyone be prepared to forward the names of any really decent brokers?
    Just spoke to dave who is in insurance for about 16 years and he reckons my insurance is fine. I called absa and confirmed all excesses. I only have learners for the last 2.5 years and have a fixed excess of r2250. Im with ABSA iDirect so try them on 0860202122 my bike is insured for 89000 and i pay r461 with a 2 year no claim bonus. I dont think its too bad..they dont have an excess waiver unfortunately. Also try miway. They have a special bike insurance policy according to Dave. Im gonna try them now..

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    LastMinute.Com Vixen's Avatar
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    Quote Originally Posted by eDs View Post
    PM Sent
    Hiya, i have sent you the details
    ta

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    Hooligan Biker Aceius's Avatar
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    Just phoned ABSA iDirect now. They quoted me R650.00 for my 2008 CBR1000RR, retail value R96400.00. Flat excess of R2250, no waiting period, no hidden excesses/costs.

    Just waiting to hear from them i.t.o. cover for track days and advanced rider training, etc.

    Anyone else here that's insured with ABSA iDirect? Ever had to claim from them?

    At 12,000 RPM no one can hear you scream.

  17. #17
    Evil Biker Scum eDs's Avatar
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    Quote Originally Posted by Aceius View Post
    Just phoned ABSA iDirect now. They quoted me R650.00 for my 2008 CBR1000RR, retail value R96400.00. Flat excess of R2250, no waiting period, no hidden excesses/costs.

    Just waiting to hear from them i.t.o. cover for track days and advanced rider training, etc.

    Anyone else here that's insured with ABSA iDirect? Ever had to claim from them?
    No idea how claiming would be. Im with iDirect and what your asking is what I wanted to know the same thing thats why i started the thread. I have called them back again today and they confirmed that its the only excess and i have it recorded on voice recording. I asked them if im in an accident and only have learners whats my excess. if it get stolen whats my excess etc. They kept telling me it will only be r2250 and nothing else. What you can try is ask them if you add household insurance whats the total premium. Mine came down after i added household so the total premium was lower. Tell them your paying 580 now and they will match it Also how much your paying now and whats ur excess? Please leme know what they say about trackdays. I forgot to ask..

  18. #18
    Hooligan Biker Aceius's Avatar
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    Track days and advanced rider training not covered.

    Will update on the rest just now.

    At 12,000 RPM no one can hear you scream.

  19. #19
    Evil Biker Scum eDs's Avatar
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    Quote Originally Posted by Aceius View Post
    Track days and advanced rider training not covered.

    Will update on the rest just now.
    Can one get some cover like that somewhere just for a day?

  20. #20
    LastMinute.Com Vixen's Avatar
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    Quote Originally Posted by eDs View Post
    Can one get some cover like that somewhere just for a day?
    Thats why you need a broker.... tell them you are doing a track day, and provided that they track day is through an approved Track school they will add cover for the day.....
    Much less hassle.
    I pay R450 odd for our 2007 Fireblade 1000

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