Cancelled your Iwyze policy? Trust IWyze to keep on taking your money.

Here we go again. Let's try and get a response the second time round. So, on 21 May I took out insurance on a vehicle I purchased. The insurance was arranged as from 23 May onward, as confirmed by the policy and the confirmation letter. However, on as a result of the Covid 19 crisis, the roadworthy and licensing centers were closed until 1 June. As such, the vehicle, which was a demo model and had passed BMW's internal quality checks, could not go for its roadworthy. As such, the dealership requested that the insurer send it a letter confirming that the car was insured until such time as it can go for its roadworthy. Iwyze first indicated that this would be no issue, but after much confusion, I was informed that IWyze would not be willing to give such assurance. For this, I had a separate Iwyze complaint on Hellopeter, that to date I have not received feedback on. This, despite a number of other insurers having indicated that they understand the circumstances and that a letter as requested by the dealership would be no problem. Having spoken to Iwyze on the 23rd, I was informed that the money that had been deducted from my account would be reimbursed, as the car was actually never covered. To date, this has not happened. So, on 28 May, I cancelled my insurance with Iwyze, and switched to Discovery who, just like King Price and MyWay were willing to issue such letters to the dealerships. When speaking to the cancellation consultant from Iwyze, I was informed that the premium would not be deducted from my account on 1 June, as the policy would be cancelled with immediate effect. Low and behold, on 1 June, I got a notice from my bank that the premiums were in fact deducted from my account.

So, on 23 May, Iwyze deducted a total of R369.19 from my account as the pro rata premium for the period up until 1 June. This, despite the fact that the vehicle was never actually insured and the fact that I could not take delivery of the vehicle as a result of Iwyse's actions.

Then on 1 June a total of 1378.89 was deducted from my account, despite having cancelled, and having received notice of such cancellation from Iwyze on 28 May.

So in essence, Iwyze now owes me an amount of R1748.08. Despite having sent two complaint emails, I have not heard anything from them.

So, here I am again.

Let's hope they can solve this before Friday, or else I will be lodging a formal complaint with the FAIS Ombud. This is the most pathetic service that I have ever encountered.