Drastically low-balling insured values

<p>My wife was recently in an accident that wrote off her Audi A3 insured through Santam, On the policy documents which were renewed 6 months ago, the Audi is insured for R88 000, and I have specified extras of factory fitted two-tone leather sports seats to the value of R12 000, leaving a total insured amount of just short of R100 000.</p> <p> </p> <p>Santam have offered a settlement of R82 000 including extras, the breakdown here being:</p> <p>Audi Retail Value R78 700</p> <p>Extras R3 300</p> <p> </p> <p>The only explanation I have been given is that it is my responsibility to update the policy regularly to account for depreciation... but the policy was updated 6 months ago, and according to Santam the vehicle is depreciating at a rate over over R1000 pm.</p> <p> </p> <p>And in terms of the leather seats, Santam have been happy to take premiums based on a value of R12 000 for the last 3 years, but now that I am claiming they are saying that the leather seats only add a value of R3 300 to the vehicle, which might very well be true, but that wasn't my understanding of the cover I was paying for... If I had a fancy R10 000 CD player insured, it certainly wouldn't add much value to the vehicle but if the vehicle was ****** I would expect to recieve a pay out for the replacement of the CD Player, not for the value it added to the vehicle. </p> <p> </p> <p>I have spent the last 3 weeks going back and forth with Santam who appear unprepared to budge on any points, or even offer reasonable explanations.</p> <p> </p> <p>Very Disapointed.</p> <p> </p>