Bad Financial Advice by Santam Direct

Policy number ***. I have been with Santam direct for a number of years and recently moved provinces. I called to find out if i have cover and was advised that i do. When reading my policy documents I noted that "accidental Damage" is not an exclusion and assumed that i have cover. Certain items where damaged (R10k worth) and my claim was rejected as i did not have cover. over and above having to constantly chase them for feedback and the laid back approach on all my queries, i argued that i should have been advised correctly. We look to our insurers to provide correct financial advice and this certainly was not the case.

It was only then that i was told that i do not have power surge cover and accidental damage at home as well as it "is not offered" by santam direct and i should get a broker (so what is the point of a direct offering Santam???). upon investigation, i noticed many discrepancies that i was not advised of at sales stage and when going through the policy wording, is not included as an exclusion.

If you do have cover with them, please scrutinize your cover as they do not advise their customers accordingly and i am now sitting with a R10k loss due to bad financial advice.

To date, i have not heard from anyone senior and the sales convo was not even brought up.

how can Santam sail through underwiritng without providing proper advice. being in the IT industry myself, I am no expert when it comes to insurance (in this case short term) and look to my insurer to provide me with the cover and advice needed to manage my risk accordingly.....Santam IS NOT the organisation to take you through this effectively....In my case, I found out when it was too late.

To date, I have approached a broker and all it did was increase my premuim by another R500.