Over charging and Insuring without engaging the client

Dear AIC/Mr Collin Molepe,

I received a notification of increase in my building insurance. My insurance has increased since November 2017 by 188.327%. When I engaged Ms Brunel Khatisa Mushwana via telephone to indicate that the increases as well as the total replacement was ridiculous, I was requested to complete an "Estimated Building Replacement Cost" form which I did. I included everything possible on the form which then came to R 1 200 000 less (actual sizes of buildings, including swimming pool, out-buildings, electric fence, etc). On the form I completed it states: "I hereby authorise Absa Insurance Company to adjust the sum insured on my Homeowner’s Insurance policy to the abovementioned amount with immediate effect and confirm that all fixed property has been included in the calculation. " I submitted the form on 25th November to Brunel and followed up with emails and even logged complaints on ABSA Complaints website. Today I receive an email from Brunel sincerely apologise for the delay in responding to my email. Brunel further states in the email that "I have received response that the difference is more that 15% and there is still a huge bond." "This can be approved when you sign an indemnity form". The indemnity form is for "Indemnity for Property Underinsured". "I hereby acknowledge that I am aware of the difference in the insured values as indicated above. I confirm that Absa has discussed the following with me and I accept full responsibility for: - I request that the bank accept my insurance even though such insurance policy provides for cover that is less than the amount of cover required by the bank." When I explained to Brunel that I am not under insuring my property but requesting that it be insured based on the actual sizes and values, Brunel advised me that if it was correct, I had nothing to worry about. Does she or ABSA understand that AIC is over insuring me by R1 200 000, based on your own calculations, and when I want to use the correct values, I must sign an indemnity that I am now underinsuring my property? Is this what ABSA and AIC call service and is this acceptable? I have lodged complaints on ABSA website. Please can this be addressed or resolved. If not, advise me of the process that I can obtain another building insurance company. Thank You.