Being Exploited by Standard Bank Insurance and then threatened when I complained

Hi Readers, I have a bond with Standard Bank and insured my home with Standard Bank Insurance about 20 years ago. To my surprise in January when I had storm damage to my home and needed to put in a claim there was no one answering their phones day after day. I eventually got a reply to my email and no less than three months later repairs were done after dozens of phone calls and emails. I then decided to change insurers as this was terrifying to me that I could wait so long for assistance. First for Woman assist my father within minutes of placing a call. I then reviewed my policy and gave notice to cancel it as per the terms of the policy. I also phoned in and asked a consultant what I had to do to give notice to cancel my policy. I was told to email notice and in 30 days it would be cancelled. Noting that this is an insurance and not my bond holders which I know stipulated my home must be insured but does not stipulate by Standard Bank Insurance. Next thing I got back and email herewith below demanding I supply a list of information and an insurance equal to R6.88 million. I rep**** that my bond is R1 550 000.00 and my home is valued now at a replacement cost of less the R3 mil so where did they get the R6.88million from in their email. They rep**** it is my current policy value (see below email inserted). Then a phone call followed after I submitted a complaint that they were exploiting me and *****ing from me, the phone call was to inform my husband that a high risk profile was going to be opened on us. This as a result of wanting to cancel our Insurance and challenging them on the ******ionate R6.88 million I was paying insurance for. In short Kelebogile and her Customer Service manager Palesa have no intentions of simply cancelling my insurance as per the terms stipulated in the policy..... oh no they are behaving as if they have the right to tell me who I will have as an insurance provider........ or they will defame my character *******ly and have me as a high risk client. They now want to send their valuator to challenge my valuator. Why? I want to cancel my insurance which is my right is it not. This is mallicious harresment by an insurer operating above the law so it seems. Or perhaps Standard Bank Insurance think they are the bond holders. Should it not be the bond holder requesting a secure policy over the home? Standard Bank Insurance have been exploiting's me by over charging me for years. *****ing from me and using inflated valuations on my home to do so, they have never been near my property to value it in a decade. I own a modest home fare fare less than the huge R6.88 million they claim it to be worth. I want all Standard Bank Insurance consumers to know they are being ********** by Standard Bank Insurance beware! If you challenge them or want to exercise your right to use another insurer they will flag you and open a profile on you being high risk. Unbelievable but true. See emails received and replies I have sent. Sorry I did not record the conversation but I am sure they did and it will suddenly be missing when the Ombudsman request a copy.........

To: Mahlasi, Kelebogile K <***> Subject: Re: HLB***

Good day,

Why must I insure my house for R***.00 where did you get this figure from? The current replacement value for the house and outbuildings has been estimated at R3 mil. Why do you try and rip me off. I want an explanation or I will report you.

Regards

On Monday, 3 May 2021, Mahlasi, Kelebogile K <***> wrote:

Good day

We have received a request to cancel your Standard Bank home owners insurance.

Please see below requirements to cancel insurance

Requirements for own insurance to be approved

A copy of the policy schedule reflecting:

• The underwriter

• Policy number

• Policy to be in the bondholder’s name

• Inception date that the building is insured from

• Sum insured of the building to be inline or more than Standard Bank’s amount R6 820 570

• Mortgagee clause

• SASRIA cover

• Limited or full Subsidence and Landslip cover

• Risk address

• The interest of Standard Bank

Only once this is received, can we then cancel the Standard Bank insurance. The Bank unfortunately does not accept broker confirmations or quotations.

Please forward the documents requested above to ***

Thank you

Kelebogile Mahlasi

Standard Bank Insurance Brokers / Retentions HOC Consultant

www.standardbank.com

Standard Bank / South Africa / A member of Standard Bank Group

n Monday, 3 May 2021, Mahlasi, Kelebogile K <***> wrote:

Good Day Mrs

Trust that you are well.

The sum insured is as per your current insurance policy. You can raise your dispute on the replacement value with Home Loans.

Kind Regards

Kelebogile Mahlasi