1 reviews | Active since Aug 2016
Wedding ring ******, PSG don't want to pay the insured amount
My wife's wedding ring got ****** on 17/10/2017. Now, PSG only want to pay out 60% of the ring, because they could find a wholesaler jeweller in Germiston that can apparently replace the ring at a cheaper price. We have the following problems with this: - We have a valuation certificate, which was accepted by PSG when the ring were added, for the higher amount, not only 60% of the value - We paid a premium on the higher amount, not only 60% of the amount - The valuation certificate is 2 years, 4 months old. Apparently we had to get a re-valuation every 2 years. Nobody told us this, and it is nowhere mentioned on our policy. We also asked our PSG broker about 6 months ago what is needed from us and he mentioned nothing is outstanding. Also, how can Gold and diamonds loose value in 2 years? - The original were hand made, to a very specific design. It's been changed 4 times. Nobody can assure us the jeweller PSG have in Germiston can make the exact same ring, also hand made. (The same jeweler were appointed in Aug 2016 to assist with a claim, they could not assist us then) - We are in Pretoria, not Germiston. Is there really no jeweller in Pretoria that can make a wedding ring? - If the jeweller in Germiston do go ahead and make the ring, who is going to cover that cost and time of the travel? What if the ring is not to our satisfaction the first time? Nobody can confirm this - The new ring will only be valued at the lower amount, meaning we all of a sudden lost 40% of the ring - 4 Valuations we got from different jewellers ourselves valued the ring higher that the original cost - Since this accident, PSG still took the higher premium. If they value it lower and we don't have the ring anymore, how can they still charge us the full premium?
Nobody at PSG want to assist us. The claims department keep on blaming our broker. It feels like our PSG broker can't get any answer from management. There is also another claim coming form the beginning of October that we still can't get answers on. We don't know what to do anymore. It just feels like PSG doesn't want to assist.
Hi Mr Nel,
We apologise for the frustration you are experiencing. We have escalated your issue to the PSG Insure team and they are looking into it. You will be contacted shortly.
Hi Mr Nel,
We apologise for the frustration you are experiencing. We have escalated your issue to the PSG Insure team and they are looking into it. You will be contacted shortly.
Dear Mr Nel
As explained to you by your insurer/adviser, your insurance policy provides for your insurer to either replace the ****** ring or to pay you the value at which it can be replaced in cash. Upon lodging your claim, we (your insurer) approached the jewellers with whom we have established relationships for quotes to replace the ring. We assure you that the jeweller we (your insurer) identified is able to manufacture a new ring to the exact specifications of the ****** ring. They are also more than happy to meet with you to discuss the design and manufacturing process.
We are sorry that you have chosen not to accept the replacement ring or the cash payment of this replacement value. While we hope that we will still be able to assist you and are on hand to provide any further information you need, we remind you that you are welcome to approach the Short-Term Insurance Ombudsman if you remain unsatisfied (www.insuranceombudsman.co.za).
Dear Mr Nel
As explained to you by your insurer/adviser, your insurance policy provides for your insurer to either replace the ****** ring or to pay you the value at which it can be replaced in cash. Upon lodging your claim, we (your insurer) approached the jewellers with whom we have established relationships for quotes to replace the ring. We assure you that the jeweller we (your insurer) identified is able to manufacture a new ring to the exact specifications of the ****** ring. They are also more than happy to meet with you to discuss the design and manufacturing process.
We are sorry that you have chosen not to accept the replacement ring or the cash payment of this replacement value. While we hope that we will still be able to assist you and are on hand to provide any further information you need, we remind you that you are welcome to approach the Short-Term Insurance Ombudsman if you remain unsatisfied (www.insuranceombudsman.co.za).
Dear Mr Nel
We have confirmed that your adviser has been in further contact with you. We trust that he will be able to assist with any additional queries.
Dear Mr Nel
We have confirmed that your adviser has been in further contact with you. We trust that he will be able to assist with any additional queries.