Insurance models

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blue flame

Pack Dog
Joined
Jan 8, 2008
Messages
148
Reaction score
0
Location
Hartbeespoort
Bike
Suzuki DR-Z 400
I find it disturbing that insurance companies such as dirt sure only give package deals (don’t get me wrong I don’t take the package deal apart here).

The reason why I did not have insurance before was because the insurance on the motorcycle is more than the insurance on my Car.

On closer investigation it become apparent that these insurance companies only offer package deals, Let me explain

I only need two things
A) Theft insurance
B) Tracking device on the Motorcycle (And if I do this the cost of the insurance premium must go down as with cars)

Why because it is/was a dirt bike therefore a toy. I therefore don’t need accident damage or medical cover (Damm I am covered under my medical aid why pay for the same thing twice). Secondly I want to bring the cost down because to pay a third of the value of the bike in 4 years to an insurance company is not on.

If I am /was lucky and my bike does not get stolen and I did not have insurance the money saved would cover the depreciation on the bike and I will easily be able to replace it in 4 years time

If we told our clients (I am in the retail industry specifically the building environment).

“sir if you buy your brick from us you must buy cement as well” or “Sir I can only supply you with one type of brick”. Do you think we would have been in business? Why does insurance companies then tell us what we need (at a higher premium) and we accept that.

I had a long discussion with the guys from dirtsure and there excuse has been that it is there business model and I must except that. The normal blab la bla. My question is why do you accept this.

Customer relation and customer satisfaction is part of my day to day work and I just can’t see that, that attitude bring in more clients and grow the business.

In fact 90% of all my friends in the dirt bike community don’t have insurance, why? Because
A) They can’t get what they want
a. Some want only theft insurance
b. Some need cover when they actually race
B) It is too expensive

Logic then tell me, the insurance companies don’t want to grow their business or don't understand there clients , because their current market share is actually very low if we compare it to the potential market share.

It is very easy to design a model that caters for everyone’s need, some want more some want less, you pay X for this plus Y for that the same as normal house and car insurance.  Please give me your honest opinion in this regard.
 
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