FNB Short-Term Insurance: Catastrophic 60-Day Failure and Double Financial Loss for 15-Year Loyal Client

I have been a loyal FNB client for 15 years, maintaining my home bond, life cover, and asset insurance under one roof a total portfolio footprint of R10,5 million.

Following a normal sales call last month, I was influenced to migrate my entire vehicle and household insurance profile over to FNB.

Exactly 60 days into purchasing a high-value vehicle, where I put down a massive cash deposit of R150,000 upfront, the vehicle was involved in a single-vehicle accident caused directly by severe municipal road defects on Liesbeek Parkway.

The claim was logged on 13 July Claim *** .

On 30 July, I received written confirmation from the Motor Claims Team that the "normal claims process is to be followed" to execute the write-off settlement and activate my credit shortfall cover.

However, after questioning a low vehicle valuation, FNB halted the process and subjected me to an invasive, multi-week forensic investigation via a third-party vendor crash investigation group (CIG).

While the forensic investigation ultimately cleared the claim and confirmed the physical road-defect facts, I have now been blindsided at the final hour.

FNB has signed off on a capital payout of R926,000 but is forcing a R51,000 financial deficit onto my Nedbank finance account due to technical shortfall policy exclusions on upfront administrative, warranty, and On-The-Road fees.

This leaves me facing a catastrophic double financial loss: my R150,000 cash deposit is entirely gone, and I am now being left personally liable to Nedbank for another R51,000 out of pocket on a policy that is barely a month old.

Mathematically and equitably, my R150,000 upfront cash deposit completely extinguished all administrative and on-the-road fees on day one. How can my deposit pay for the asset and not the upfront charges first?

The remaining debt currently sitting with Nedbank consists entirely of the vehicle's capital asset value, which my shortfall policy is contractually bound to protect. By enforcing these arbitrary deductions, FNB is penalizing me twice for the same upfront costs.

Senior and management will hide behind handlers, this is just one issue I have in this entire process.

The COO was obviously was looking for loop holes to reject my claim as it took them 58 days to send AOL,

DO NOT INSURE WITH FNB, they will look for every angle not to pay you and cause you more of a financial loss then recovery, they never answer, the handlers never know what is going on.

I have been an insured individual for over 20 years and never experience this type of process, with other providers. Please do research before, If I saw these complaints before, I would never have switched over from Outsurance.