Unsatisfactory claim outcome and poor customer service

We had a house break-in on the 4th of May 2018. The matter was reported to the police and necessary documents were submitted for claims with the respective homeowners insurance company and King Price to claim for the home contents lost and damages. Both insurance companies paid out, but we remained unsatisafied with King Price's pay out and sent emails asking for clarity. To this day, a month later, no response was ever received. The contact person we laiised with was Florence Letswalo, whose conduct from the on-set left nothing to be desired.

The clarity required was around the following: # How does King Price justify replacing a high-end, LG 55LA8600 SMART 3D LED TV, with the below at a cost less than the amount we paid for? There is no where in the policy document or on King Price's website https://www.kingprice.co.za/insurance-products/home-content-insurance/ where there are specifics made on the replacement value. # Instead on your website, https://www.kingprice.co.za/insurance-products/submit-a-claim/ ,you state that (see pasted below), all of which I did comply with. # King Price instead makes a mention under Understanding under-insurance...stating that..."It’s important to value your household correctly when taking out home contents insurance. King Price pays out for items at their current replacement value… Because that’s what it costs to buy new things. So, for example, the leather lounge suite that cost you R12,000 on sale 4 years ago, would probably cost you a great deal more to replace, now. The ‘great deal more’ value is the 1 that we need to know upfront, because that's what we base your premium on. If we paid a claim for this furniture based on R12,000, it would leave you at least a sofa short. And we'd hate that to happen." - Please find out what this mean in insurance terms first # King Price's Home contents inventory, also on its website, guides its customers to guard over under-insuring their household contents, which is why when I made a claim, providing you with an invoice as proof, attached once more. # I had a gut feel when collecting the TV that I was not given a choice on which TV I was going to get. When I got to New World, everything was already approved. I am interested in knowing how did King Price and New World conclude on the TV I was to get? Were any spec comparisons made prior to a decision being made on which TV we were going to be "handed", or the decision was made based on how much King Price was going to benefit/save from my loss? # My second request for clarity is based on the R 6 000.00 – R 1 500 excess payout for my wife's collection of handbag bought locally and those bought from our international business and holiday trips. Admittedly, I was only able to submit one invoice, because honestly speaking where could we have gotten invoice of a handbag collection collected over the past 10 to 15 years? Yes, I said the handbags could be estimated at 15 to 20 items. They could be more as my wife is obsessed with shoes and matching handbags which could be validated my the number of pairs she owns, but King Price insisted I gave them a figure, which I did. # Again, nowhere in King Price's policy documents or website does it state that failing to produce the invoices I would be short changed. # How can a collection of 15 to 20 handbags some bought internationally and other bought locally from shops such as Via La Moda https://www.vialamoda.com/, be worthy of a R6000 payout. That's a price of one good handbag.

I will happily provide the contents of the email sent to Lerato, that she never bothered to respond to, upon request.

I would appreciate it if this matter could be thoroughly investigated and provide me with a full written report regarding the investigation and the findings thereof. Should I find the report unsatisfactory, I will then opt to pursue further action at the office of the Ombudsman for Financial Services Providers (FAIS Ombud).

I remaim hopeful that King Price will provide me with the clarity I seek to help me in my decision making process of whether or not I stay with Price King or I move to an insurance company that will respect me, my premiums and my insured items.