Lack of integrity (proposal variances & request to purchase additional seperate vehicle policy to protect 'book' risk)

<p>I have used Undercover Insurance Brokers for many years. Recently I moved back to M&F for all the short term insurance schedule requirements. I was with Regents for several years if memory serves correctly.</p> <p> </p> <p>I bank with Nedbank, Invest with Old Mutual (through Nedbank) and have elected to use M&F but have to say am questioning the decision all round.</p> <p> </p> <p>I purchased a Ford Mustang this year – evidently M&F has no clue on what it is. It is a Ford for heaven’s sake. </p> <p> </p> <p>The first quote given was R1,900 initially for the Ford Mustang alone. A colleague of mine has purchased a Jeep worth more this year (same age, less household cover) and his policy is way less. When I questioned this through Undercover, M&F came back with a proposal for R1,348.92 for the Mustang. Everything was signed off having M&F cover for my house (building, contents and 3 vehicles). Consumers use brokers and pay the service to get exactly that – Service. </p> <p> </p> <p>Note that the integrity of M&F is questionable given the difference in charge in the first instance.</p> <p> </p> <p>I then get an email from the brokers on Monday this week informing me that M&F want the Mustang separate on All Sure</p> <p> </p> <p>My brokesrs have informed me that Mutual & Federal have requested them to remove the Mustang from the scheme policy due to the sum insured (R839,900)and have honoured the premium and excess on their direct product being Allsure - premium is higher though! Why should I have seperate policies with the same company - it is more cost effective when everything is bundled?</p> <p> </p> <p>So to summarise, first M&F did not want to assist with a reasonable amount, then gave a quote in excess of R600.00 difference per month premium on the vehicle and now want it on a separate policy!</p> <p> </p> <p>So to protect the Brokers books, they impose limits, I need to have multiple policies with the same company (balance of cover by Fulcrum). I am the honest and cautious customer, and yet don’t believe they have my interests at heart and clearly cannot quote with integrity. I don’t pose a risk yet they deem it necessary to make me feel that I am a risky individual.</p> <p> </p> <p>Needless to say, I will not accept the offer and expect answers. I have lodged this with M&F directly (complaints department), have informed the brokers and will take this up with the Short Term insurance Oumbudsman if need be.</p> <p> </p> <p>Absolutely ridiculous - honesty and integrity clear do not not pay off. I specifically use brokers to ensure that underwriting is done at policy stage, not claim stage. I hope to remain claim free until this matter is resolved.</p> <p> </p> <p> </p>