BEWARE !!

[DouglasN]

A small hi-jack here if I may, on the question of insurance......

I have been chatting to a bike shop owner and he was telling me of the around 20 bikes that he has that people have just left there after being brought in for services, repairs etc, some have been there for close to 3 years.

he has tried to track the owners down etc but his seems to me like a potential insurance fraud issue by the owners, break a bike, take it in for a service, leave it there and then claim from insurance for a stolen bike, the bike is now sitting under a cover at the back of a shop.

Is this a possible scenario?  Would a police clearance check on them all be a good idea?

[jagter]

A small hi-jack here if I may, on the question of insurance......

I have been chatting to a bike shop owner and he was telling me of the around 20 bikes that he has that people have just left there after being brought in for services, repairs etc, some have been there for close to 3 years.

he has tried to track the owners down etc but his seems to me like a potential insurance fraud issue by the owners, break a bike, take it in for a service, leave it there and then claim from insurance for a stolen bike, the bike is now sitting under a cover at the back of a shop.

Is this a possible scenario?  Would a police clearance check on them all be a good idea?

Doesn't sound likely to me. It would be moronic. Almost guaranteed to be convicted of insurance fraud if you do that. The dealer should be able to show quite easily that you dropped the bike off. Signatures,security cameras etc.

If you really want to claim for stolen you have to disappear the bike properly. (my criminal mind recons the bottom of a dam or something)

[barry13]

No real explanations just that they won't finance.

[Réhann]

Are the dealers obliged to disclose such info as this?

Oh hell yes! In terms of the new CPA.

An insurance claim of R 135 000 on a brandnew (then) GSA is nothing.  It is sooo easy for this to
happen during an insurance claim, as the cost of parts for such a bike is ridiculously expensive.
It does however not mean that there is something wrong with the bike now.

In July 2007 I managed to accumulate R58 000 wrth of damage on the Makgadigadi Pans in Botswana. The only real damage was a bent gear lever and its extension. The windscreen's one bracket broke, the frame bent a little, one spotlight broke off, one mirror moertoe, bent front rim.

But most of the stuff the assessor wanted on the claim could have been fixed with a bit of Q-Bond. Maar nee... BMW Insurance said "Nein!"

They even insisted on replacing handguards that had scratches from parking too close to the wall in my garage. It was fkn rediculous. 

Screwed up my risk profile, but didn't up the premium of R630 at the time. But when I asked for a quote six months later on a replacement bike, they nailed me.

[BlueBull2007]

I don't bother insuring any of my bikes. I figure the premiums are crazy high anyway because of all the claims (be them real or not). Kinda like loser's casino: Someone pays for the lights in those places right? And the free drinks and the waitresses etc etc.

Insurance to me is the same deal. Sure it is piece of mind at a price, but some actuarial has worked out what to pay. So I get insurance quotes all the time and adjust a deposit into a "bike" kitty instead. I've saved up a lot of money that way, which I use to fix damage to them. Actually I saved enough to buy more bikes as well, but at least I am getting my monies worth.

Call me crazy?

[jagter]

I don't bother insuring any of my bikes. I figure the premiums are crazy high anyway because of all the claims (be them real or not). Kinda like loser's casino: Someone pays for the lights in those places right? And the free drinks and the waitresses etc etc.

Insurance to me is the same deal. Sure it is piece of mind at a price, but some actuarial has worked out what to pay. So I get insurance quotes all the time and adjust a deposit into a "bike" kitty instead. I've saved up a lot of money that way, which I use to fix damage to them. Actually I saved enough to buy more bikes as well, but at least I am getting my monies worth.

Call me crazy?

If you can afford to replace your vehicle at a moment's notice I reckon that is the way to go. You'll save on the long run. 

Would still advise to get 3rd party insurance.  You never know when you'll t-bone a new Ferrari.

Personally I can't afford to replace my car or bike so I have comprehensive insurance.  Almost a 'poverty' tax.

[Bundu]

I don't bother insuring any of my bikes. I figure the premiums are crazy high anyway because of all the claims (be them real or not). Kinda like loser's casino: Someone pays for the lights in those places right? And the free drinks and the waitresses etc etc.

Insurance to me is the same deal. Sure it is piece of mind at a price, but some actuarial has worked out what to pay. So I get insurance quotes all the time and adjust a deposit into a "bike" kitty instead. I've saved up a lot of money that way, which I use to fix damage to them. Actually I saved enough to buy more bikes as well, but at least I am getting my monies worth.

Call me crazy?

nope, not crazy in my view - I have been doing the same for the past 10 years 

[bronzy]

I don't bother insuring any of my bikes. I figure the premiums are crazy high anyway because of all the claims (be them real or not). Kinda like loser's casino: Someone pays for the lights in those places right? And the free drinks and the waitresses etc etc.

Insurance to me is the same deal. Sure it is piece of mind at a price, but some actuarial has worked out what to pay. So I get insurance quotes all the time and adjust a deposit into a "bike" kitty instead. I've saved up a lot of money that way, which I use to fix damage to them. Actually I saved enough to buy more bikes as well, but at least I am getting my monies worth.

Call me crazy?

if the bike is financed you have to insure the bike