Incorrect advice - policy sold on promises of cover which are exceptions in policy wording

<p>Policy: OT ********** 5</p> <p> </p> <p>I received a quote for business all risk insurance on the 16th of Feb and initiated the policy on the 17th of Feb. This is primarily to cover photographic equipment (cameras, lenses, etc.). However, this policy was sold to me under false pretenses.</p> <p> </p> <p>I asked the person selling the policy to me multiple times on both days whether accidental damage is also covered (e.g. if the lens were to fall and break). He responded in the affirmative - I also have an e-mail stating that it IS covered. The premium sounded too low to me, and when I asked for the policy wording, he told me that I can only get that after the policy is initiated. Therefore the verbal contract I agreed to covers accidental damage.</p> <p> </p> <p>After I accepted the quote and initiated the policy, I received the policy wording which, under "business all risks" states an "exception" for "accidental damage to any tools of trade". I tried to query this, but after two e-mails to the advisor I spoke to I have not yet received any feedback. Before I bought the policy, feedback was quick. The rest of this review assumes that my interpretation of "tools of trade" is correct, i.e. that accidental damage to the photographic equipment/laptop is not covered.</p> <p> </p> <p>Inappropriate advice and mis-selling is very serious in insurance. I am very upset with this and worried about how many policies Outsurance sell to customers without them knowing what exactly they are buying, especially since under conventional short-term insurance, brokers would explain the details to policyholders. It is also ridiculous that I could not read the policy wording before I bought the policy.</p> <p> </p> <p>I believe what happened is in contravention with the CPA, Law of Contract and likely the Short-Term Insurance Act as well. The fact that other policyholders might not understand what they are buying is very worrying to me.</p> <p> </p> <p>Other things also sounded strange to me, for example that Outsurance's website says any item above R3000 needs to be specified, but the advisor told me it's not needed.</p> <p> </p> <p>I am posting this here to warn all policyholders to read through their policy wording and exclusions very thoroughly. Outsurance needs to look into this and make sure their advisors do not give incorrect advice. Furthermore, I would like to chat to a SENIOR person, who knows the products very well, to discuss:</p> <p> </p> <p>- What Outsurance's plan is to solve the fact that the policy I bought has a verbal (and written in e-mail) agreement of cover INCLUDING accidental damage.</p> <p>- If Outsurance wants to argue to charge me more for the cover I need, I want to know what the premium would be.</p> <p>- And in the latter case, if I do not want to accept the new premium rate, I would need a full refund on the take-on fee and premium already paid.</p> <p> </p> <p>If this is received by then, a phone call anytime after 14:00 today should be fine.</p> <p> </p> <p>Note that I am the contact person on this policy on behalf of my girlfriend, a part-time wedding photographer. </p> <p> </p> <p>Thank you very much.</p> <p> </p> <p>Regards</p> <p> </p> <p>Pieter Klue</p>