1 reviews | Active since Jun 2016
Exorbitant building insurance increase without informng the client.
My wife has a property in Pretoria. The building insurance is added to her bond payment. She has been asking the Home Loans department for ages to send her an account, but she doesn't get any snail mail or email home loan statements.
Last year, WITHOUT BOTHERING to inform her, Standard Bank Insurance almost doubled the building insurance from R480 per month, to R830 and then to more than R900 per month. We only saw this after she AGAIN had to ask Standard Bank for a bond statement.
How is this possible, Standard Bank Insurance? Did the risk double within 1 month? The inflation rate is 5-6% or so???? How do you explain this malicious, gouging, exorbitant rip-off??? How do you explain not informing me? This is UTTERLY AND COMPLETELY UNACCEPTABLE. We demand a reversal and a refund of all the excessively increased premiums since April 2018, failing which we SHALL approach the Banking Ombud, the Insurance Ombud and the Consumer Council
