NM
Nthabeleng M
1 reviews | Active since May 2017
28 Sept 2022, 02:13
**** of an insurance
I insured my wedding ring. And when claiming, I provided the valuation certificate as requested by the insurance but the payout was not even half of the value of the ring.
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OUTsurance's replyOfficial
28 Sept 2022, 11:08Good morning Nthabeleng,
Thanks for your feedback.
We are sorry to hear about the disappointing outcome of your claim.
We replace items according to their replacement value.
It is the responsibility of the client to ensure that they are correctly insured at all times.
Should the cost of replacement be less than the insured value, the maximum that we will pay out is the replacement value of the item.
The purpose of insurance is to indemnify a client therefore paying out more than the replacement value would constitute betterment.
We trust you find the above to be in order.
Regards,
OUTsurance
Thanks for your feedback.
We are sorry to hear about the disappointing outcome of your claim.
We replace items according to their replacement value.
It is the responsibility of the client to ensure that they are correctly insured at all times.
Should the cost of replacement be less than the insured value, the maximum that we will pay out is the replacement value of the item.
The purpose of insurance is to indemnify a client therefore paying out more than the replacement value would constitute betterment.
We trust you find the above to be in order.
Regards,
OUTsurance
OUTsurance's reply28 Sept 2022, 11:08
Official
Good morning Nthabeleng,
Thanks for your feedback.
We are sorry to hear about the disappointing outcome of your claim.
We replace items according to their replacement value.
It is the responsibility of the client to ensure that they are correctly insured at all times.
Should the cost of replacement be less than the insured value, the maximum that we will pay out is the replacement value of the item.
The purpose of insurance is to indemnify a client therefore paying out more than the replacement value would constitute betterment.
We trust you find the above to be in order.
Regards,
OUTsurance
Thanks for your feedback.
We are sorry to hear about the disappointing outcome of your claim.
We replace items according to their replacement value.
It is the responsibility of the client to ensure that they are correctly insured at all times.
Should the cost of replacement be less than the insured value, the maximum that we will pay out is the replacement value of the item.
The purpose of insurance is to indemnify a client therefore paying out more than the replacement value would constitute betterment.
We trust you find the above to be in order.
Regards,
OUTsurance