Very bad experience with first and definitely last claim.

Would have given them a zero if I could. I am a client of New National through a broker. I have cars, household and all risk items insured with them, which includes my wife's wedding ring. The ring was custom designed and manufactured especially for us. The ring was valued for +-R20k and it was insured for R20k. The ring was stipulated in the policy as a designers ring. My wife unfortunately lost her ring. I claimed it and was instructed to supply them with a replacement quotation which was for +-R22k from the original manufacturer. I was contacted shortly after by an assessor, and received an "Agreement of Loss" document to sign with an adjusted claim value of +-R15500 as they can get exactly the same ring made at a different manufacturer for cheaper. I was informed that they can choose which supplier they want to use to replace what was lost. First of all, you cannot replace a designer ring without using the original designer and manufacturer. It would sure be great if an insurance claim for the loss of the Mona Lisa could be met with replica by some knock off artist. Secondly, I insured the ring for an amount that was indicated on the valuation certificate and paid a premium for said amount. How on earth can you as an insurer then just decide that even though I paid premium on the valuation amount, you will just be paying out 75%?

I am extremely dissatisfied with your service and will be canceling my insurance with you in the very near future!!