Pathetic

Dear Mrs Van Rooyen Your Hello Peter Complaint received on even date refers. We can confirm that you placed your Diamond Ring on cover with us on the 20th of April 2015. The Diamond ring was specified in the amount of R 72 500.00 with a premium payable of R 189.38 The valuation certificate dated 16 April 2015 is also noted on recorded and the ring was valued at R69 199. The valuation certificate is proof of the existence of the item itself. I am unable to trace the receipt for the item; which is normally proof of ownership for the item. Kindly confirm how much the ring was purchased for as sometimes it differs to the evaluation certificate. Please keep in mind that at sales stage; we did not have sight of this specific item and therefore insured it as requested on the above stated value. We can also confirm that both the value of the ring as well as the premium payable changed year on year with every annual increase that took place. According to the system; the current insured value for the ring is in the amount of R97 680.00 with a premium payable of R 341.79 During the processing of the claim; we had access to the ring and our Jewellers confirmed that it would cost around R42 000 to replace the Diamond Ring. We completely understand that the evaluation certificate you obtained indicates a much higher value; however; we are confirming that without compromising the quality of the ring; our suppliers advised us that the ring can be replaced for the above stated amount. Our suppliers are able to obtain the materials at a much lower rate than the actual stores. Our obligation as your insurer is to place you back in the same position prior to the loss. We also would just like to add that we do not insure the monetary value against an item; we insure that actual item. Based on the above, we have logged a fault with our I.T department to assist us to determine what the difference in premium would have been had we insured the ring for R42000.00 from the time it was added to the policy. Please allow us a period of 3 – 5 working days to revert in this regard. Kind regards Louise Fortuin Customer Relations Specialist Customer Insights & Escalations Management Department

It confirms what I've said - You are forced to use their suppliers, evem if you get paid out you don't have a choise but to travel to Johannesburg to use their suppliers. I told them to take my ring off the policy which they did immediately, so much for customer care. I app**** for a quote at Santam and the offered me abou R700 less than my premium at Budget, ALL INCLUSIVE, my ring as well and should it get lost or ****** they will pay the valiation that I got from the jeweller. And, because of my age I will pay NO eccesses on any claim, and that includes my whole policy - car, house contents and property insurance. Why can Budged not offer the same????????????But quess what, I got declined because according to Budged's claim history I got rejected from several claims. I got rejected from one claim- a crushed pipe due to a tree but my previous property insurance would have paid out because the tree was there when I bought the house and I was unaware that there was water pipes next to the tree. Again, I was not insured the same as I was with Standard Bank and I believed Louis Meyer when he said they will give me the same as Standard Bank. The other "rejections" was me rejecting Budged because whenever I phones Louis Meyer to get advise regarding damages (eg. lightning damages etc) and he told me what the ecceswould be. I said NO, it is not worth it, don't log a claim I will pay out of my own pocket, how can they then state that I got rejected????????????? I need a detailed claims report from them and proof that they rejected me and why because it is untrue. In the meantime I will have to stay with them only because they leave me no choice!!!!