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Online TheBear

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Re: I don't understand
« Reply #60 on: February 04, 2016, 06:18:54 am »
Got told that bikes in excess of R150 000 require a tracker or I must just ensure the bike for R149999 ? Its all greek to me how to fiddle a low payment for good security benefits , is R 661 ball park for comprehensive ?


Don't fiddle with your insurance.  It is when it is fiddled when issues arise when pay out time comes and then people complaining about their insurance company.   Get quotes from various companies for the Retail Value.  Yes, that will be the most expensive, but it will also go toward a pay out that will enable replacement of the vehicle with a similarly vehicle.

Once you have the quote, look at the excess and push that up or down and see how that impacts your monthly premium.  Also try to insure all your vehicles, house, house content with the same insurer.  This spreads your risk and they will be a tad cheaper than one where they only insure the bike.
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Offline Ganjora

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Re: I don't understand
« Reply #61 on: February 04, 2016, 06:19:58 am »
you really do have to be a special kind of fool to ride without insurance...
and as for it being a grudge purchase,  having had both cars and bikes stolen in the past,  it is one of my happiest expenses - that,  medical aid,  life insurance,  retirement annuities,  and income protector policies.
 

Offline RobD

Re: I don't understand
« Reply #62 on: February 04, 2016, 06:23:02 am »
Got told that bikes in excess of R150 000 require a tracker or I must just ensure the bike for R149999 ? Its all greek to me how to fiddle a low payment for good security benefits , is R 661 ball park for comprehensive ?


Don't fiddle with your insurance.  It is when it is fiddled when issues arise when pay out time comes and then people complaining about their insurance company.   Get quotes from various companies for the Retail Value.  Yes, that will be the most expensive, but it will also go toward a pay out that will enable replacement of the vehicle with a similarly vehicle.

Once you have the quote, look at the excess and push that up or down and see how that impacts your monthly premium.  Also try to insure all your vehicles, house, house content with the same insurer.  This spreads your risk and they will be a tad cheaper than one where they only insure the bike.


Enough said!!

People are always quick to blame or scold us for "not paying" ..... Most times when you delve a little deeper the truths start emerging. On the whole underwriters do not simply repudiate claims, if you fiddle, lie or do not comply with your policy conditions you will encounter problems, simple as that.
 

Offline 2StrokeDan

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Re: I don't understand
« Reply #63 on: February 04, 2016, 06:40:25 am »
I rode without insurance for many years without incident, but it is like russian roulette, and you never know what type of accident is waiting for you.
Having a dirt fall is OK, if only you and your bike is involved. Even if the bike is badly damaged, it can stand while you repair, or save up to repair.
Problem is that when you crash into Ugly Casanova's Maserati, he is not going to wait, in fact, his insurance will clean you out.
 

Offline Lem

Re: I don't understand
« Reply #64 on: February 04, 2016, 07:38:16 am »
In my case the costs of insurance is no match for the school fees you pay when you didn't have it.

In 2012 I bought a little Honda XR125 for R 10 000, to do one "small bike trip" to the Karoo. On the 4th day I had it I was attending to some work in the morning and I took the bike because I wanted to ride it to the municipality to do the whole transfer.

Got in a moer of a big accident. This is where the trouble started, all because it wasn't insured.

Luckily I was conscious enough to ask my brother to phone the right people who could come fetch the bike and take it to a mechanic so long.  Two months went by before I was able to go and view the bike and assess the damage. About that same time I went to see a lawyer about putting in an RAF claim....a week after that the sheriff arrived with a summons.....I'm getting sued for damages to the truck....R 35 000 worth of damages to the truck....and my XR was only worth R 10 000. Had I had insurance, I would have had none of the worries or the hassles.

The legal battle to get those people off my neck took as long as the whole RAF claim....3 years. It had to be proven that the accident wasn't my fault, because if I admitted or even settled the case with the other party I then admit some guilt in the incident....which would spoil my chances of a RAF claim.

I had the inconvenience of having to get quotes for the damages to the XR simply to oppose the R 35 000 claim for he truck. In the end, after a year of legal battle we got to a stage where it was safe for me to start fixing the XR. Damage wasn't so bad...seems I took the hit for the bike....(medical costs to fix me amounted to over R 400 000....thank you medical aid :lol8:) and I fixed the XR with Startline parts for around R 2000.

The bike didn't look like a new one and I could only sell it for R 7500....I was glad to recoup some money lost, but I still lost some.

I have therefore paid the school fees of not having insurance (and I consider myself fortunate that I came off relatively cheaply) and can only give the following advice...

Our bikes & lifestyles are expensive luxuries. Luckily we all know we don't need the latest, greatest bike to have fun on.
Ride the bike you can afford and make sure that whatever you ride is insured with the best insurance you can afford  :thumleft:



    




« Last Edit: February 04, 2016, 07:40:49 am by Lem »
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Re: I don't understand
« Reply #65 on: February 04, 2016, 07:43:16 am »
This is the age old chestnut
I insure everything!!! it gives me peace of mind

The only time you realise you need insurance is when something goes horribly wrong, you finacially cannot cover your loss ?? then wished you had it??  and you loose big time
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Offline punisher

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Re: I don't understand
« Reply #66 on: February 04, 2016, 07:44:36 am »
this will get a lot of you going , I stopped paying insurance and I now tithe my insurance money instead , I trust the Lord with my soul and salvation so why not with mere earthly goods .

 what    the    fukk  !!!!!!!!!!!!!!!!!!!!!! 
just wanna have fun , and ride ... and ....... ride
 

Offline Rommel

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Re: I don't understand
« Reply #67 on: February 04, 2016, 07:52:14 am »
So I get mocked for paying insurance, medical aid, etc. " You're crazy to waste your money ".

Then I have to read on the forum that there is another collection going on for the some un-insured dude who was in a wreck and can't afford to get himself and / or his ride repaired.

I can't afford NOT to be insured.
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Offline Odd Dog

Re: I don't understand
« Reply #68 on: February 04, 2016, 07:52:25 am »
this will get a lot of you going , I stopped paying insurance and I now tithe my insurance money instead , I trust the Lord with my soul and salvation so why not with mere earthly goods .

Well those two items are a lot cheaper than repairing Mr  "Ugly Casanova's Maserati"

IMO insurance should be a compulsory requirement to drive any vehicle on the road.
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Offline Lem

Re: I don't understand
« Reply #69 on: February 04, 2016, 07:55:17 am »
this will get a lot of you going , I stopped paying insurance and I now tithe my insurance money instead , I trust the Lord with my soul and salvation so why not with mere earthly goods .

Well those two items are a lot cheaper than repairing Mr  "Ugly Casanova's Maserati"

IMO insurance should be a compulsory requirement to drive any vehicle on the road.

Exactly...and then if everybody paid it in some form it would be extremely cheap as well and not a grudge purchase :thumleft:
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Offline RobD

Re: I don't understand
« Reply #70 on: February 04, 2016, 07:58:32 am »
this will get a lot of you going , I stopped paying insurance and I now tithe my insurance money instead , I trust the Lord with my soul and salvation so why not with mere earthly goods .

Well those two items are a lot cheaper than repairing Mr  "Ugly Casanova's Maserati"

IMO insurance should be a compulsory requirement to drive any vehicle on the road.

Exactly...and then if everybody paid it in some form it would be extremely cheap as well and not a grudge purchase :thumleft:


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Re: I don't understand
« Reply #71 on: February 04, 2016, 08:08:57 am »
this will get a lot of you going , I stopped paying insurance and I now tithe my insurance money instead , I trust the Lord with my soul and salvation so why not with mere earthly goods .

 what    the    fukk  !!!!!!!!!!!!!!!!!!!!!! 

Not WTF at all - quite a valid argument from a religious person - if that's your belief system then go for it.

Mine is simple - I'm not a rich man (nor religious) and can't afford to be sued. Or spend weeks/months/years without a vehicle - so I insure - a necessary evil.

Dealing with the devil, it could be said.  :biggrin:  
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Offline wobbler

Re: I don't understand
« Reply #72 on: February 04, 2016, 08:17:34 am »
I too believe very strongly in being fully insured, and they have helped me out well over the years.
2 instances that stick out:
Riding a 5 day old SV1000S, have not even paid my 1st instalment and I come around a mountain bend and there are baboons in the road, I go wide, hit the gravel and bike is written off - paid out full minus 1st insurance instalment.
The other was me being hit from behind by a driver without insurance and my insurance paid out and sorted everything (but increased premium by 40%!).
So in short, I too won't ride without insurance.
Simply irresponsible imho.
At the very least have 3rd party fire and theft cover (to cover the rest of us should you stuff up our property) but then don't bitch when you can't afford to fix your bike.
 

Offline Lem

Re: I don't understand
« Reply #73 on: February 04, 2016, 08:18:06 am »
this will get a lot of you going , I stopped paying insurance and I now tithe my insurance money instead , I trust the Lord with my soul and salvation so why not with mere earthly goods .

 what    the    fukk  !!!!!!!!!!!!!!!!!!!!!! 

Not WTF at all - quite a valid argument from a religious person - if that's your belief system then go for it.

Mine is simple - I'm not a rich man (nor religious) and can't afford to be sued. Or spend weeks/months/years without a vehicle - so I insure - a necessary evil.

Dealing with the devil, it could be said.  :biggrin:  

+1

agree

...and I'm also not religious, simply a man of faith  :thumleft:
Faith is not knowing what the future holds, it's knowing who holds the future
 

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Re: I don't understand
« Reply #74 on: February 04, 2016, 08:25:47 am »
Many complain about insurance costing more............but the facts and reality is that
all motorbike parts gets imported.

This is directly linked to the Rand/Dollar/Euro exchange rate.
We all know how the Rand deteriorated against other currencies.
This alone caused the average repaircost per accident to shoot up by just over
30% per year for the last 3 years.
Insurance did not increase by so much.

In the end you must shop around, compare, adjust and make informed decisions.


The cheapest premium is not always the best solution to your specific insurance need.
Sometime it is much better to rather pay that R50 extra premium and
get proper insurance with a reasonable excess and good claims service.




Remember : You never know how good your insurance is until you claim.

« Last Edit: February 04, 2016, 08:38:14 am by Operator »
 

Offline jaybiker

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Re: I don't understand
« Reply #75 on: February 04, 2016, 08:31:06 am »
I stated my case on page 1. According to some I'm an absolute fool to risk riding without insurance, although I do at least pay a small premium to cover any loss or damage I may be liable for to a third party. In fact, that premium is so small that I had doubts about it and actually double checked with the insurer to make certain that I won't be left any more destitute than I already am should something like that happen.

Now here's something I don't quite understand. If I was paying comprehensive insurance, and my bike got badly damaged or written off the payout would probably be not more than R50k. whereas if I manage to wreck somebody else's brand new Merc, plus all the extra claims they could make, it could conceivably amount to a payout of half a Mil. or more.  So why an affordable (to me) premium to cover my 13 year old bike, but a few paltry rand for third party damage?

And here's what I have to ask those who reckon that they wouldn't even switch on the ignition of an uninsured bike.
Seriously, If your situation was as starkly simple as mine - ride without comprehensive cover, or don't ride at all, would you then pack up riding?
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Offline Andre E

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Re: I don't understand
« Reply #76 on: February 04, 2016, 08:40:25 am »
this will get a lot of you going , I stopped paying insurance and I now tithe my insurance money instead , I trust the Lord with my soul and salvation so why not with mere earthly goods .

Here's some free advice: Always hope for the best, but always prepare for the worst....
Don't be kak, be lekker.
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Re: I don't understand
« Reply #77 on: February 04, 2016, 08:41:42 am »
Now here's something I don't quite understand. If I was paying comprehensive insurance, and my bike got badly damaged or written off the payout would probably be not more than R50k. whereas if I manage to wreck somebody else's brand new Merc, plus all the extra claims they could make, it could conceivably amount to a payout of half a Mil. or more.  So why an affordable (to me) premium to cover my 13 year old bike, but a few paltry rand for third party damage?

It is called liability...................the chances for claiming for that is much lower than your own damage.
The chance that you would crash or fall and have damage to your own bike, is about 10x more than the chance that you would
hit and damage the R500 000 Merc.
 

Offline RobD

Re: I don't understand
« Reply #78 on: February 04, 2016, 08:53:54 am »
I stated my case on page 1. According to some I'm an absolute fool to risk riding without insurance, although I do at least pay a small premium to cover any loss or damage I may be liable for to a third party. In fact, that premium is so small that I had doubts about it and actually double checked with the insurer to make certain that I won't be left any more destitute than I already am should something like that happen.

Now here's something I don't quite understand. If I was paying comprehensive insurance, and my bike got badly damaged or written off the payout would probably be not more than R50k. whereas if I manage to wreck somebody else's brand new Merc, plus all the extra claims they could make, it could conceivably amount to a payout of half a Mil. or more.  So why an affordable (to me) premium to cover my 13 year old bike, but a few paltry rand for third party damage?

And here's what I have to ask those who reckon that they wouldn't even switch on the ignition of an uninsured bike.
Seriously, If your situation was as starkly simple as mine - ride without comprehensive cover, or don't ride at all, would you then pack up riding?

Quite simple really, if I had the R50K plus extra for the third party damages lying in my bank account then no, I wouldn't pack up riding... If not, well then I would just be tempting fate and I know how that can turn out..
 

Offline Omninorm

Re: I don't understand
« Reply #79 on: February 04, 2016, 09:13:07 am »
this will get a lot of you going , I stopped paying insurance and I now tithe my insurance money instead , I trust the Lord with my soul and salvation so why not with mere earthly goods .

what    the    fukk  !!!!!!!!!!!!!!!!!!!!!! 

+1

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