Clients who want their bicycles insured while they are away from home need to specify them under their portable possessions section of their Plans. Clients with several bicycles can also use our Estimated Maximum Loss feature to help save on premiums.
It is very important that clients give exact descriptions of their bicycles. Vague descriptions causes difficulty at claims stage, which could cause client frustration and in extreme cases lead to lower payouts.
For example, if there is a plan with two insured bicycles, both with the description “road bike”, we are unable to identify which bicycle is being claimed for.
Ensure that the client includes:
- Make of the bicycle
- Frame size
- Any additional features that are not standard, for example, non-standard rims.
For example, a good description of the above road bike for bicycle insurance would be “Men’s Giant XTC Road Bike with Zipp Rims, Red in colour, Frame Size L”.
Find out more about Discovery Insure or any other insurance requirements: Ginsburg Financial Services