Over-insurance without evidence to justify

<br> We have obtained other insurance through Dial Direct for R1 000 000. Which is sufficient coverage for our household with a municipal property value of R730 000. The current outstanding bond is approximately R50 000 and the household goods are sufficiently covered under the R1 000 000 coverage. Outsurance are refusing to cancel the insurance unless the property is insured for an amount of R1 674 604.61, which is a gross over calculation of the household insurance needs. No evidence has been given as to how they have gotten to this amount and as of now both entities are currently passing the buck. Outsurance stating that FNB will not let them cancel and FNB stating that they are not responsible. We have now been double paying insurance since May 2015. FNB is now wanting to charge a R1400 evaluation fee however as a well established bank they should be able to validly show how they have gotten to the amount they have increased it to, which is over 150% increase within 12 years. This increase does not reflect the property market. FNB is trying to force you to stay with Outsurance which is a manipulation of the market and of its customers.