Alexander Forbes Complaint

I have been a client with Alexander Forbes Insurance since 2001. We recently had a lightning storm which struck my sony tv, top of the range back in 2003, which I have my original receipt of R29 999.00. I put my claim in and now they will on replace my tv for a Samsung TV to the value of R4000.00 after deducting excess and my call out quotation that I paid for. I have been paying my insurance over 18 years and never missed a payment. They refuse to pay me a cash in Lieu Claim to the value I bought my TV as it has depreciated, and I pay R575 00.00 household contents. I find it unacceptable and won’t accept the replacement or payout if R4000.00. In other words, they just take our money and every year our insurance goes up, and they don’t bring it down every year according to the so called depreciation of our contents. They happily take our money, then when your TV genuinely blows and you give them a quotation to import another Sony Replacement TV they refuse. Just shows what we are thought of as clients. No payout, but we will happily receive your money for years on end. You ask for a consultant to call you back and that doesn’t happen either. Management discusses my case and refuses to payout according to original invoice given. Great service let me tell you. R30 000.00 TV that you assume you paying insurance for in case something happens is actually false cause they will only replace to the value of R4000.00 according to TV’s depreciating. In other words, Alexander Forbes is saying buy a TV for R30 000.00 so that in a year or 2 they will only replace for a R4 000.00 TV. That is a great saving on their side and ***** the client who pays years on end. Fantastic Service. I would recommend all a Alexander Forbes clients thoroughly check the policies and decrease your building or household contents figures as you will not get paid out anything close to your actual things bought. They will increase your installment yearly, yet your contents depreciate. That doesn’t make sense. Your monthly premiums should decrease according to depreciation. If you have nothing older than 3 years basically you shouldn’t insure it as your payout will be according to what they feel you should get. I am a very unhappy client and at the moment and have always spoken highly of Alexander Forbes Insurance until recently. Now I understand why the people out there bad mouth then and chose an alternative insurance to go with. Alexander Forbes is not cheap monthly. This is a disgrace as how I have been treated as a client.