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Monthly Archive for: ‘July, 2017’
Why You Need Bicycle Insurance

Whether it’s your daily mode of transport or a source of recreation on the weekends, bicycle insurance is fast proving to be an essential type of cover. Whilst many don’t feel like they ought to insure road or mountain bikes, it’s the kind of policy that really does help should you need to claim. For those asking the all important question, “should I insure my bicycle?” We’re providing a resounding, “yes”. Here’s why…
They're not an inexpensive item If you’ve insured your smartphone and laptop computer, why wouldn’t you insure your bike? This train of thought revolves around the idea that a bike is at as much risk as electronic items are. In fact, some might argue that the risk is even higher as you cannot blacklist a bike once it is stolen, the same way that you can blacklist a stolen phone. Furthermore, bicycle insurance helps to safeguard the initial financial outlay that comes with purchasing a quality bike in the first place.
Don’t ride it out, get mountain bike insurance Your bike is important to you For some, a bike is part of a livelihood, making road or mountain bike insurance a vital policy for professional athletes who use them as part of a career. For others, bikes are an important part of weekend and family activities, where quality time is spent riding together. This makes the loss or damage of a bike something that could really put a dampener on things. By ensuring that your bike is covered, you’ll be able to enjoy the peace of mind that comes with knowing that this possession is never at risk.
Damage can occur at any time From knocks and scrapes to more serious things, your bike can become damaged in a host of situations. Any bike enthusiast will know the perils of a snapped frame or damaged braking system. Whether it’s damaged whilst out riding or even whilst transporting it on a bike rack, good cover will ensure that you’re never out of pocket. More than that, it will guarantee that you’ll be back riding in no time.
Theft is rife No matter where you are located, the threat of theft is a very real one. With some bikes costing the same price as some cars, they should also be seen as an asset of tremendous value. Serious bike fanatics will know that some of the more expensive models of mountain bikes cost in excess of R100 000.00. This makes complete sense to have a policy that protects it. With staggering amounts like this, the chances are that there would have been a fair amount of sacrifice and planning in order to afford such a purchase. It’s for this reason that we advise all of our clientele to keep them properly insured.
Don’t take the chance, insure your bike At Compendium, we understand how much your bike means to you. It’s why we provide a host of insurance options that cater to your needs and budget. For more information on the variants available to you, why not chat to one of our knowledgeable brokers today on: 087 724 9390, or click here

Don’t Get Caught Without Gap Cover

We’ve all heard the horror stories about family or friends that have been left with astronomical medical bills that their medical aid wouldn’t cover following a stint in a hospital. Whilst this might happen for a number of reasons due to plan types and limits, there is a way to avoid this. For many people, gap cover has proved to be a saviour in cases where medical aid shortfalls have occurred.
Health and peace of mind go hand-in-hand If you haven’t got a gap cover policy as yet, here are a couple of reasons why you don’t ever want to be caught without it…
Mind the gap Before we get into the nitty-gritty of what this kind of cover entails, it’s important to note that it isn’t a medical aid policy on its on. It is in actuality, a supplementary policy, designed to cover any costs that may arise from amounts unpaid by an existing medical aid claim after you have been admitted to hospital.
It’s not a one-size-fits-all policy Please be aware that not all gap policies are created equal and that certain exclusions may still apply. For this reason, it is wise to sit down with your dedicated broker and discuss which provider and policy would be best suited for your current medical aid policy. That way, you won’t have to deal with the frustrations and expenses that come from having the wrong gap type for your current medical aid. This is a common problem for many people as inexperienced brokers often sell them the incorrect variety. For this reason, Compendium offers several different gap types, provided by a variety of providers. This allows us to correctly match each client with the gap that would benefit them most.
Why you need it To put it into perspective, your medical aid will often only cover a certain percentage of the charges that rack up during your stay in hospital. This is, of course, dependent on the hospital you are at, the procedure you had done, and of course which doctors and specialists attended to you. As a result, there is often a shortfall that stems from what your medical aid scheme pays out and what the total charges were. This means that there is a definite need for an additional cover that makes up the difference so that you are never out of pocket.
We can tailor your policy to suit you At Compendium we are associated with six of the country’s best gap providers. This allows us to offer our clientele the peace of mind that comes with knowing that we have their best interests at heart. If you’re interested in our health insurance options, please contact us and chat to a broker today on: 087 724 9390.

A Beginner’s Guide To Owning A Motorbike

If you’re reading this, you’ve probably given in and bought your first motorbike. Of course, congratulations are in order but now that you’ve taken the plunge, there are a few more things that you need. From bike insurance to the necessary safety gear, here’s our guide to owning a motorbike.
It's more than just bike insurance… Start with the right insurance Now that you’ve bought a motorbike a good bike insurance policy is a must. Not only will you be compensated should your bike be stolen or damaged, it will also give you peace of mind so that you can ride without worry. At Compendium, we offer three types of bike cover: Third Party Fire and Theft, Comprehensive Cover, and Third Party Only.
Whilst the kind you choose will be linked to your budget, we do recommend that you opt for as much cover as possible. This is because your bike is a valuable asset that needs to be insured to prevent financial losses. To find out about the types of cover that we offer and which one would best suit you, please click here.
Don't skimp on your safety gear In case you weren’t aware, your safety is just as great an investment as your bike itself. This means that you should have the necessary measures in place before you go out riding. For starters, you need a sturdy helmet. Not only is this a legal prerequisite, but it protects you from head injuries should you fall off your bike. The visor on your helmet will also keep bugs at bay. Gloves are also vital because it’s a natural instinct to put your hands out when you fall. Leather gloves are a great investment, as they tend to wear much slower. A good leather jacket is advised as well, to protect you from the elements whilst you are out riding. Many motorbike enthusiasts also insist on proper riding boots that offer substantial ankle coverage as well as foot protection.
Don't ignore those rattles Whether your bike is new or pre-loved, any noises or shudders should always be immediately attended to. We all know of someone who has had a bad motorbike accident or even worse, lost their lives to one. For this reason, it’s simply not worth the risk to ignore anything out of the ordinary when riding your bike. Much like a car, continuing to use your bike when there’s a small amount of damage will only add up to much greater damage later on. To reduce the unnecessary wear and tear, we recommend servicing your bike at regular intervals and getting it checked out whenever you suspect something might be wrong.
Call us and chat to a broker today If you’ve got all the right gear and the bike to match, it’s time to get the right policy. To find out a little more about what you need and how Compendium has a solution to suit your budget, requirements, and more – please contact us today on 087 724 9390.