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Offline Omninorm

Re: I don't understand
« Reply #100 on: February 04, 2016, 10:45:56 am »
How can people ride (adventure) bikes without insurance ? Any bike really , but adventure bikes even more so. Statistically you are just so much more prone to fall and damage your bike on a dirt road.
Surely if you can not afford the insurance then you can not afford the bike/lifestyle ?
Toys should not make up such a large of your assets.
For me: if you have to insure the bike ... then you cannot afford it.
:thumleft:
If your are on your financial limit or even over when you are purchasing your bike, you are looking at the wrong toy.
3rd party insurance I would get even for a cheap bike.

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Online TheBear

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Re: I don't understand
« Reply #101 on: February 04, 2016, 12:30:14 pm »
If your are on your financial limit or even over when you are purchasing your bike, you are looking at the wrong toy.
3rd party insurance I would get even for a cheap bike.

My toy, also happens to be my #1 form of daily transport.   
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Offline Manic

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Re: I don't understand
« Reply #102 on: February 04, 2016, 12:34:27 pm »
Duidelik is julel in ander Financial League, so ek gaan julle nou los dat julle self verder hier aangaan  :biggrin:   :thumleft:

Ek sal daar by die armgat Pooratech thread wees as iemand my soek  :biggrin:
 

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Re: I don't understand
« Reply #103 on: February 04, 2016, 12:46:30 pm »
Luckily everybody in life gets to make his/her own choice...... Who are whe to question other peoples decisions if thet do not affect us??
My life- my choice????
If i had to explain you would not understand anyway......
 

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Re: I don't understand
« Reply #104 on: February 04, 2016, 01:03:49 pm »
Luckily everybody in life gets to make his/her own choice...... Who are whe to question other peoples decisions if thet do not affect us??
My life- my choice????
I know a guy that has a lodge near Hammanskraal. His total insurance bill for a year used to be R 180 000. Lots of vehicles and buildings.
In ten years after stopping his insurance he had one bakkie stolen. The rest he pocketed and used to build more chalets.
Yes he was lucky.

Me, I pay insurance, just too scared my house burns down or car gets stolen or written off. No way I can replace them if not insured.
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Offline Bundu

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Re: I don't understand
« Reply #105 on: February 04, 2016, 01:09:02 pm »
How can people ride (adventure) bikes without insurance ? Any bike really , but adventure bikes even more so. Statistically you are just so much more prone to fall and damage your bike on a dirt road.

Surely if you can not afford the insurance then you can not afford the bike/lifestyle ?


Toys should not make up such a large of your assets.

For me: if you have to insure the bike ... then you cannot afford it.

I can afford to replace my bike, but I might not be able to afford replacing a car that I hit or I might not want the cars insurance company on my case
 

Offline bronzy

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Re: I don't understand
« Reply #106 on: February 04, 2016, 01:35:05 pm »
find yourself a decent broker and insure  your householder's and cars ,bikes etc
much cheaper than the bike on its own and if you have a claim the broker sorts it out after one phone call. :thumleft:
2015 GSA premium R429 monthly on my insurance
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Offline Bundu

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Re: I don't understand
« Reply #107 on: February 04, 2016, 01:50:47 pm »
find yourself a decent broker and insure  your householder's and cars ,bikes etc
much cheaper than the bike on its own and if you have a claim the broker sorts it out after one phone call. :thumleft:
2015 GSA premium R429 monthly on my insurance
2014 Harley road king R489 monthly 
 

do they require a tracking device?
 

Offline Bundu

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Re: I don't understand
« Reply #108 on: February 04, 2016, 01:54:40 pm »
maybe what is also important, is not to use some companies

At one stage I was with Dial Direct - those fuckers increased my premiums by between 14 and 17% every year, until after 3 years, I took my bonus and told them to get stuffed - then they suddenly came with much cheaper rates - I left in any case

I think some companies catch people with a low risk, by initially offering very good rates, which they then chew back quickly with increases
 

Offline shanti

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Re: I don't understand
« Reply #109 on: February 04, 2016, 02:05:16 pm »
maybe what is also important, is not to use some companies

At one stage I was with Dial Direct - those fuckers increased my premiums by between 14 and 17% every year, until after 3 years, I took my bonus and told them to get stuffed - then they suddenly came with much cheaper rates - I left in any case

I think some companies catch people with a low risk, by initially offering very good rates, which they then chew back quickly with increases

Surely it should be the other way around - as the bike gets older its worth less so therefore your insurance should go down and after faithfully paying for a year your amount should get less due to not claiming ? always a story to extract more

Offline Bundu

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Re: I don't understand
« Reply #110 on: February 04, 2016, 02:16:55 pm »
no, you also have to consider the cost of spares and labour and average price of vehicles that you could hit

it is however a good idea to update your own vehicles insured value yearly as most insurers don't do that, but many magically increase your house contents automatically - fucking scammers!
« Last Edit: February 04, 2016, 02:17:43 pm by Bundu »
 

Offline Richard Smit

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Re: I don't understand
« Reply #111 on: February 04, 2016, 02:19:09 pm »
I dont insure my bike, simply because the premiums are a rip off.

If I break it, Ill fix it.

If it gets stolen... Tough takkies. But that's unlikely.

If I damage someone else's property, I have legal liability cover on my other short term insurance, or I'll take it on the chin, do the right thing, and pay up.

That's on a R190k KTM 690 R Rally Replica.





 

Offline Tom van Brits

Re: Re: I don't understand
« Reply #112 on: February 04, 2016, 02:28:47 pm »
Luckily everybody in life gets to make his/her own choice...... Who are whe to question other peoples decisions if thet do not affect us??
My life- my choice????
I agree 100 persent. Unfortunately you will always get people judging others and if they do not agree with your choice and lifestyle will even get rude. Each one get his own life and to make his own decitions. Why call someone irresponsible if he decides differently?
And the idea of making it law for everyone who uses a vehicle on a road compulsory to have insurance......then what's next in our democracy? Next every poor soul will have to have medical insurance, and then.....?

I say again, your way dear fellow forum friend is not the law because the majority seems to feel like you do, live and let live.

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Offline Grrrr....

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Re: I don't understand
« Reply #113 on: February 04, 2016, 02:29:38 pm »
If you ride without insurance or medical cover you are a knob head.

Finish en klaar.

Offline Stofdonkie

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Re: I don't understand
« Reply #114 on: February 04, 2016, 02:29:59 pm »
How can people ride (adventure) bikes without insurance ? Any bike really , but adventure bikes even more so. Statistically you are just so much more prone to fall and damage your bike on a dirt road.

Surely if you can not afford the insurance then you can not afford the bike/lifestyle ?


Toys should not make up such a large of your assets.

For me: if you have to insure the bike ... then you cannot afford it.

I can afford to replace my bike, but I might not be able to afford replacing a car that I hit or I might not want the cars insurance company on my case

I agree. I have 3rd party, good medical, good kit ... and a cheap uninsured bike.
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Offline wobbler

Re: I don't understand
« Reply #115 on: February 04, 2016, 02:32:07 pm »
... or I'll take it on the chin, do the right thing, and pay up.

That's on a R190k KTM 690 R Rally Replica.







You are in a massive minority when it comes to the uninsured masses.
The un-insured guy that hit me from behind was not so much as contacted by my insurers.
They simply wrote it off as being too expensive to follow up and increased my premiums by 40% because of it.
Apparently him hitting me changed my risk profile.
Awesome....
 

Offline Richard Smit

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Re: I don't understand
« Reply #116 on: February 04, 2016, 02:49:52 pm »
Quote
If you ride without insurance or medical cover you are a knob head.

Finish en klaar.

Yawn...

Maybe so, but better than being a risk-averse wimp.

Regards,

Knob head.



« Last Edit: February 04, 2016, 02:52:02 pm by Richard Smit »
 

Offline Sparticus

Re: I don't understand
« Reply #117 on: February 04, 2016, 02:52:01 pm »
Had a strong urge to insure my bikes. This thread convinced me further. However, the news from Outsurance is bleak.
KLR650
2009
Comprehensive : R255.00
3rd Party fire & theft: R101.01

Insured value!!: R 16029.00

I am shocked at the accuracy of their data. The Goldwing 1997 gl1500 se is valued at R22 512.00
I'm desperately looking for a broker.
Carpe Dieme all you want, I've already seized the day...
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Offline Geel Kat

Re: I don't understand
« Reply #118 on: February 04, 2016, 02:55:55 pm »
Outsurance does not like insuring bikes (or the ridiculous premiums they quote suggests that).

Even when my household/cars were with them my bikes were insured elsewhere.
 

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Re: I don't understand
« Reply #119 on: February 04, 2016, 03:12:23 pm »
The insurance game is difficult...........

The theory that a 2 or 3 year old bike deserves a lower premium is not totally true.
Lets work it by example

You buy the new Africa Twin for R190 000 and insure it comprehensively.
The exposure for the insurer in the event of a total loss is R190 000 plus potential
liabilities following an accident.
That attracts a certain rate (Rand and cent)
The insurance company offer their rates according the risk that they foresee.
Lets say it is involve in an accident and the damage is R50 000.....

Two years down the line that same Africa Twin have a retail book value of
eg.  R 130 000 (as any bike/car would loose value over time.)
Let say in theory it is involved in exactly the same accident as when it was new...
To repair the bike two years ago cost R50 000, but since then the cost of parts went up
by 20 to 30% and maybe labour rates increased by 10%.
This could mean that what cost R50 000 two years ago, could now cost maybe R60 000 - R65 000.

The point that I'm trying to make is that although a bike/car maybe a year or two or three old, it does
not necessarily cost less to repair than a brand new one.
Looking at this example above, it could attract a higher repair bill two years later than what a brand
new bike would've atractted then.
Does it really deserve a lower premium?

The only risk that changed for the insurer is the fact that if it is a write-off, their exposure dropped
from R190 000 to R130 000.
Write-offs do  happen but not as much as repairable damage claims............write-offs is not the
biggest problem for insurance companies. Huge repair bills are.
The fact that most dualsport bikes have crashbars, bashplate and pannier-racks on, help to absorb impact
when a rider puts the bike down. It is much cheaper to replace these add-ons, than the bike itself.
« Last Edit: February 04, 2016, 04:17:06 pm by Operator »