I've just purchased a Third Party Cover and discover a salty surprise. They didn't mention on the website or Product Disclosure Statement about an excess amount. If they using this dodgy trick to get a customer I don't know what to expect from them.
I hope it will help someone:
Third Party Property Damage Cover Cover Limit Excess $20,000,000.00 Excess $1,000.00
Third Party Bodily Injury Cover Limit Excess $20,000,000.00 Excess $1,000.00
Bike Damage by Uninsured driver Cover Limit Excess $2,000.00 Excess $250.00
If you ever need to claim, they'll make you feel like everything is your fault.
When I opened my policy, I just filled in the forms on the website and that's it, never heard from them again. Never sent me my policy or anything. A month later they messaged me telling me that they were still waiting for my proof of ownership to which I responded that I had no idea I had to provide it! (because they never told me anything til then!).
That was it, never heard from them again. But the money was coming out of my account every month, so I assumed that was it, I was covered. (This was my first insurance ever so I didn't know better).
Two years elapsed, moved houses, stopped using my bike so I thought I had to cancel my policy, but kept postponing it. Decided to store my bicycle in the storage cage in my apartment and it was stolen from there.
I was so thankful I hand't cancelled my insurance!
I gave them a call to let them know what had happened, the guy that "helped" me was just awful, he was talking to me condescendingly all the time. He seemed to be very angry at the fact that I didn't update my address, he told me they had e-mailed me the documents to update my policy in October, which was the anniversary of me getting the policy. I told him I didn't receive anything and that I had honestly never received any sort of communication from them. To which he replied mockingly: "oh yes, so how did you open the policy to begin with?"
After all the hassle and me sending them over and over the same documentation, my claim was declined since in their policy (the one they NEVER sent me) it said that if it's in a storage cage it has to be locked with an approved lock to a sturdy structure.
So there you go, I wasted my money for 2 years.
Don't use them.
Two positive experiences
I've claimed twice with Velosure and had a positive experience every time. Claims were processed quickly, and components which needed replacing were done so with minimal fuss. Velosure even sourced parts which the shop didn't have.
Terrible terrible and hopeless service
We had the worst experience with velosure and our claim following the accident of our son (19) who broke his neck overseas. We never managed to speak with the same staff, all based in Philippines and Indonesia asking us forever for the same paperwork. Velosure asked us to contact the accommodation and other shops ourselves to try to retrieve his passport, belonging and bikes as velosure could not get in touch with them. They even suggested for my husband (who flew overseas to be with our son) to drive 500km one way + 500 km back to get his gear while our son was still hospitalized!! They had no idea of the distances between towns - did not even check, it is so easy these days!!
They ended up asking the accommodation and other people keeping our son's gear to cover the freight costs themselves in order to send his belongings to the hospital!! and get reimbursed afterwards. You wonder what would have happen if they would have refused! They 'accidentally' credited us half of the money we were owned because you have to pay for all expenses and then you get reimbursed. The frustration having to deal with them added to the stress we already had with our son being hospitalised for three weeks.
We had great experience with other insurance providers in the past, and will never deal with velosure again!!!
They will allege you are committing insurance fraud.
Horrible experience making a claim. Stay away if you want a worry free experience if your bike ever gets stolen. Their "private investigator" repeatedly alleged I was committing fraud by making a claim. They eventually replaced the bicycle 2 months later, after an intrusive and insulting investigation.
I have had a policy with Velosure for a couple of year. I recently had an accident with my bike and had to make a claim. The staff at Velosure was extremely helpful and understanding. I could not believe their in depth knowledge of bikes and cycling. My claim was pretty straight forward but I was back on a repaired bike in less than a week.
Serivce and cycling knowledge
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