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My Toyota Fortuner has been insured with Santam for the last four years. On the policy an extra premium has been charged for R52400 worth of extras since day 1. In June this year the insured amount off the Fortuner was lowered by R40000 due to depreciation but the premium went up by R300 per month. When enquiring about this I was told that they use a certain formula to work out the new premium and that the extras specified (R52400) was part of why it went up.

On the 4th August the car was ******. When I received my agreement of Loss to sign from SANTAM they offered me a ridiculous amount off R19770 for the extras specified as well as R5000 less on the Fortuner one month after lowering its value by R40000 already.

Once again I got a major surprise from SANTAM when enquiring about how they got to the ridiculous amount they were offering on the extras. Apparently depreciation was app**** to all the extras and this was what I was offered from their side : Towbar – R3300 – Actual replacement cost from Toyota as quoted R6803.00 Nudgebar – R3300 - Actual replacement cost from Toyota as quoted R6833.82 Smash & Grab – R940 - Actual replacement cost from Toyota as quoted R2955.13 GPS navigation radio – R10690 - Actual replacement cost from Toyota as quoted R19855.00 Bonnet Guard – R770 - Actual replacement cost from Toyota as quoted R1276.37 Light Guard – R770 - Actual replacement cost from Toyota as quoted R1225.98 Side Steps – They don’t pay these because they are standard - Actual replacement cost from Toyota as quoted – R9478 These are only a few, the sound system and other after market extras like special 4x4 heavy duty rubber carpets etc they simply rejected to pay as I could not supply them with the original invoices(four years down the line) although photos off the Fortuner was supp**** to them showing all these extras.

If depreciation was app****, why then did the premium become more and not come down because of the lesser values ??? I feel a bit ****** by SANTAM after loyally paying my premium every month for the last four years(Including the extra part for the extras on the vehicle) only to be bul**** out of R32630 which was supposed to replace a vehicle with something similar with more or less the same extras.

It seems a bit like SANTAM is happy with having their bread buttered on both sides because they don’t want to pay what is due to you when something unforeseen and unfortunate happens but they are more than willing to deduct those extra amounts of every month while everything is going well.

I told Jovan, the manager that called me, that I think it is only fair for them to credit me back the differnce of R32630 worth of monthly premiums that they deducted for the last four years on the extras seeing only R19770 was covered.....STILL no feedback a week later so I guess NOT. All I can say is be VERY careful when insuring your vehicle with them, especially anything with regards to your extras specified, keep ALL your invoices for as long as you own that vehicle because they won’t ask for them until the day something happens. In the mean time they will happily deduct those premiums of us unsuspecting clients thinking we are safe and fully covered no matter what.

**************** COMES TO MIND WHEN THINKING ABOUT THIS WHOLE EXPERIENCE