INSURANCE: Counterfeit Bicycles on the Rise
Recent Gauteng Business News
The Risk of purchasing Counterfeit Bicycles
MiWay’s head of claims, Max Huggins, explains: “Like the software, movie and music markets, bike purchasers with limited budgets are being lured, often via online Asian stores, to buy stolen or fake cycles at ‘too good to be true’ prices. This is a great concern as the copies are made from inferior materials and just painted to look like the originals. Structurally, the bikes are less efficient and far more fragile. As a result they are more likely to break unexpectedly and pose a real risk for injury to riders. They also do not carry any manufacturer warranty, and could pose a problem when insuring them.”
Being Aware of Counterfeit Bicycles
MiWay is warning cyclists to pay closer attention and help raise awareness within their cycling communities to avoid becoming victims of online scams, says Huggins. “Our advice to consumers is to buy only from accredited retailers or suppliers. Most good bike manufacturers include a serial number on the frame which can be checked with the supplier; purchasers should use the opportunity to confirm authenticity before it’s too late and they find themselves stuck with equipment that is unreliable and potentially dangerous.” These dangers can become very harmful injuries if not properly checked before purchasing. This trend needs to be put to a stop and the only way we can make sure of that is by warning consumers of these counterfeit bicycles.
Business News Sector Tags: Insurance|