DO NOT take Home Owners Insurance with Absa

A friendly warning to all Absa Bond Holders that took home owners insurance with them, they DO NOT cover power surges even if was due to cable theft or a vandalized chamber. My family and I have been through two serious armed ******ies, we have been without security since the the surge on 13 October 2015, I have now replaced the Alarm system at my own expense - AGAIN!<br> <br> I was informed yesterday by ABSA that the report from the contractor indicated that the damage was caused due to power surge, I also was informed that I am not covered against power surge and that I will receive a decline letter as there is no letter stating that the power surge is caused by cable theft. <br> <br> The fact of the matter is that I informed the contractor that we did experience a power surge due to cable theft and showed him the Tweet from City Power JHB - this had NO impact.<br> <br> I then emailed ABSA the relevant document and is still waiting for an answer.<br> <br> Short and sweet - should someone ***** an electric cable, sell it for a few rand and your property burn down to the ground - you will not be covered.<br>