ABSA Homeowners Insurance

Due to financial constraint I was looking to change homeowners building insurance. The quotes received was 35% of the amount that I was paying monthly. Changed policies to another provider, however after cancelling with Absa I received a automated reply acknowledging receipt. However the amount to pay is included in my monthly bond payment (which makes one wonder regarding the interest being charged) No action was taken on their behalf and the amount went on to the bond account again. I therefor have paid 2 insurers for the same cover. On making enquiry I was told that because there is still an outstanding amount the policy would need to be vetted. I summitted the replacement policy to Absa and was furthermore told that I would need to cede the policy as there is still an outstanding amount on the bond which is about 25% of the value of the property. So I am not prepared to cede the entire policy, only up to the outstanding value, One cannot get hold of a person since the call just drops when on hold. To add to that the Annual commission was in the region of R7500.00 and this after the bonfd is with ABSA themselves !