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Offline shanti

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Re: I don't understand
« Reply #80 on: February 04, 2016, 09:14:01 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.

Yeah fiddle was the wrong word to use - shifting excess up and down to see how that impacts monthly payments is better language . So what does everyone pay ? Would be good to make up some kind of chart - ie - make of bike , value of bike , age of rider , over night conditions , period of no claims and company used to start to get a 'general' impression of what one should be paying , especially for those of us who are entering the insurance market  

Online TheBear

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Re: I don't understand
« Reply #81 on: February 04, 2016, 09:20:07 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?

Comprehensive insurance covers your vehicle against all possible nasty stuff.  Vehicle accident caused by you.  Vehicle accident caused by others.  Single vehicle accident.  Damage due to "Act of God", such as tornado, earthquake, floods, etc.  Rats in the garage eating your seat.  The list goes on and on.  You are also covered against theft and fire.  Your vehicle is also covered repeatedly.  You drop on the right.  The fix.  You drop on the left, they fix.  Your roof falls on it.  They fix.  All risks on the same vehicle.

That expensive Merc is only covered for damaged caused by you and it is your fault.  This risk, compared to the above, is considerably smaller.
« Last Edit: February 04, 2016, 09:21:14 am by TheBear »
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Offline manxkipper

Re: I don't understand
« Reply #82 on: February 04, 2016, 09:20:32 am »
Some years ago an unlicenced drunk toss did a u turn on the N2 and took me out, new bike and all. Without the insurance etc I would have been in the poop. It buys me peace of mind.
 

Offline Omninorm

Re: I don't understand
« Reply #83 on: February 04, 2016, 09:20:37 am »
I pay about R400 for 3 bikes.
Comprehensive insurance and personal liability etc included. Also includes offroad damage etc. As long as I don't race in a timed event.
It covers the full replacement value of the bikes.

I can't see how people sitting with R200 000 plus bikes can NOT have insurance.
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Offline Manic

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Re: I don't understand
« Reply #84 on: February 04, 2016, 09:33:10 am »
After reading all this it seems like each oke has different needs and situation.

Situation where I can understand one riding without Insurance.
If its a low budget bike. If you paid say R35 000 for it and its a few years old, but the okes clap you R600 a month.
Ok yes, maybe then I would also skip Insurance.

But if you buy a boney over R100 000, and especially on a HP with Bank, I wont ride without Insurance.
Nothing as kak, than paying a bike or car off, that stands under a cover at your house smashed.

I paid R95 000 for my SMT. Although its paid cash, I insured it. Its simple, I dont have another R95 000 to buy a different bike in 3mnts time if something happens, and even if I dont want to replace it myself, Im not chucking the first R95 000 that way in the water.

So my conclusion, if you buy a R200 000 bike cash, and opt for no Insurance, my head tells me in that case you must have another R200 000 in the Bank also to give you peace of mind/backup. If not, then its a huge gamble riding that bike.
 

Online TheBear

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Re: I don't understand
« Reply #85 on: February 04, 2016, 09:42:41 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.

Yeah fiddle was the wrong word to use - shifting excess up and down to see how that impacts monthly payments is better language . So what does everyone pay ? Would be good to make up some kind of chart - ie - make of bike , value of bike , age of rider , over night conditions , period of no claims and company used to start to get a 'general' impression of what one should be paying , especially for those of us who are entering the insurance market  

Not sure such a list would have any value.
« Last Edit: February 04, 2016, 09:45:43 am by TheBear »
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Offline shanti

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Re: I don't understand
« Reply #86 on: February 04, 2016, 09:49:35 am »
I know - too many things factored into the equation - maybe just a list of good insurance companies to start making a comparison would be a good start - I tried the hippo quote finder but it didnt have the models for the bikes and wouldnt carry on without the model - pretty strange - maybe its under construction still , I also got a quote from a fellow wilddog but I just need to get comparisons for ease of mind . Reading insurance quotes starts to boggle my mind as there is pages and pages of information about this and that - I get worried I am missing something or they are missing something out .

Online TheBear

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Re: I don't understand
« Reply #87 on: February 04, 2016, 09:53:13 am »
I know - too many things factored into the equation - maybe just a list of good insurance companies to start making a comparison would be a good start - I tried the hippo quote finder but it didnt have the models for the bikes and wouldnt carry on without the model - pretty strange - maybe its under construction still , I also got a quote from a fellow wilddog but I just need to get comparisons for ease of mind . Reading insurance quotes starts to boggle my mind as there is pages and pages of information about this and that - I get worried I am missing something or they are missing something out .

Hippo gets you quotes from various "insurance companies" who all belong to the same "mother company".

 
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Offline Geel Kat

Re: I don't understand
« Reply #88 on: February 04, 2016, 09:55:31 am »
Talk to Operator.
 

Offline Stofdonkie

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Re: I don't understand
« Reply #89 on: February 04, 2016, 10:05:43 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.
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Offline Acajou

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Re: I don't understand
« Reply #90 on: February 04, 2016, 10:07:44 am »
My bike is only worth about R35k, but I insure it fully comp. I don't have another R35k lying around to buy another one. It would take years worth of premiums to save up another R35k, and the chances of something happening in that time are much too great for my liking
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Offline shanti

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Re: I don't understand
« Reply #91 on: February 04, 2016, 10:08:04 am »
I did - his quote was good but then I still have to add an additional R139 into the equation for a tracker as the bikes value is above R150 000 ( why must I take out further insurance for the insurance company ? ) , this puts the quote in the R750 plus region which is steep for me - especially when I read about Manic's and bundu's payments on similar amounts

Offline Geel Kat

Re: I don't understand
« Reply #92 on: February 04, 2016, 10:11:03 am »
I did - his quote was good but then I still have to add an additional R139 into the equation for a tracker as the bikes value is above R150 000 ( why must I take out further insurance for the insurance company ? ) , this puts the quote in the R750 plus region which is steep for me - especially when I read about Manic's and bundu's payments on similar amounts

Chances are that anything else with the same cover and excess paramaters will be very similar in price.

Unfortunately it is not possible to compare what you are quoted with anyone else since there are too many variables.
 

Offline shanti

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Re: I don't understand
« Reply #93 on: February 04, 2016, 10:12:39 am »
I get that but it seems the tracker is for the insurance companies benefit , not mine as I would have the insurance - why must I pay to make their recovery easier ?
« Last Edit: February 04, 2016, 10:13:24 am by shanti »
 

Offline Geel Kat

Re: I don't understand
« Reply #94 on: February 04, 2016, 10:17:11 am »
I get that but it seems the tracker is for the insurance companies benefit , not mine as I have insurance - why must I pay to make their recovery easier ?

I agree, if the premium does not come down (i.e. paying for the tracker) I have a problem with it.

Initially on my S10 the insurer also wanted a tracker (over R150K) but in the end I managed to get that waived without increase in premium and excess or any changes to the policy.
 

Offline DirtyHarry

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Re: I don't understand
« Reply #95 on: February 04, 2016, 10:23:13 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.
 

Offline Manic

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Re: I don't understand
« Reply #96 on: February 04, 2016, 10:24:19 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.

Then it that case 80% of all bikes wont be on the road.

There is only a handfull of guys who can buy R200k GSA cash, and even less of them who say, fuck Insurance, if I write it off, I will just do another EFT for a new one the next day.

You are now talking about a group of people that are very scarce.
 

Offline Manic

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Re: I don't understand
« Reply #97 on: February 04, 2016, 10:27:57 am »
Even the rich guy, walking around doing EFT for bikes, how did he get so rich? He worked safely and clever for/with his money.

Do you want to tell me this same oke, will buy a R200k bike, and not see the positive into paying R500 pm to protect his investment? Its not making sense.


Or the okes here saying Insurance are shit, are the guys playing around with small change bikes worth not more than R30 000  :thumleft:
 

Offline ETS

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Re: I don't understand
« Reply #98 on: February 04, 2016, 10:33:33 am »
Even the rich guy, walking around doing EFT for bikes, how did he get so rich? He worked safely and clever for/with his money.

Do you want to tell me this same oke, will buy a R200k bike, and not see the positive into paying R500 pm to protect his investment? Its not making sense.


Or the okes here saying Insurance are shit, are the guys playing around with small change bikes worth not more than R30 000  :thumleft:


Aaaaag Pere ons wat geld het :thumleft:
If i had to explain you would not understand anyway......
 

Offline Manic

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Re: I don't understand
« Reply #99 on: February 04, 2016, 10:35:21 am »
Even the rich guy, walking around doing EFT for bikes, how did he get so rich? He worked safely and clever for/with his money.

Do you want to tell me this same oke, will buy a R200k bike, and not see the positive into paying R500 pm to protect his investment? Its not making sense.


Or the okes here saying Insurance are shit, are the guys playing around with small change bikes worth not more than R30 000  :thumleft:

:

Aaaaag Pere ons wat geld het :thumleft:

Ons praat nou nie van jou nie tjom, ons weet jy print geld daar in jou garage  :imaposer:   :imaposer