**********ly cheating South Africans

We are having the most ********** experience with Standard Bank Insurance on our home. In October 2018 we claimed for a burst pipe in the wall. They are so pathetic with their claims payouts, we didn't get much communication until we posted a complaint here on Hellopeter. They agreed to pay out this claim in 2018, after our Hellopeter complaint, and to date we haven't received payment for that burst pipe. We are in 2020!

BUT NOW I've really reached the end of my tether with this so called insurance company. We have a 24000 BTU LG Artcool aircon in our lounge area. Due to power surges in our area, the aircon blew. We had an electrician come in, a reputable person who deals many insurance companies, he said this will definitely be covered by your insurance, and also gave us a report for our insurance company.

My husband called Standard Bank insurance on 7th July 2020 to put in claim, only to be told : "sorry we don't pay out for power surge damages"! We requested our policy documents because EVERY INSURANCE COMPANY PAYS OUT ON POWER SURGE DAMAGE. Having looked at the policy wording the only exclusion I can find is on page 12 - excludes cover for electronic breakdown. I cannot see anywhere where it specifically excludes damages caused by a power surge. As a business person of over 20 years, having two university degrees, one of them being a law degree, I can seriously say Standard Bank insurance is now trying their luck at **********ly not paying out legitimate claims. The only reason we have our household insurance with them, is because our bond is with them. Our entire insurance profile for our businesses and other properties is with our broker through other companies. I immediately called my broker and asked him how does it work with our other policies.He informed us that that we are covered for power surge damage with all policies on other properties and its impossible that we are not covered under Standard Bank?!

Should standard bank not pay out this claim, I will immediately cancel this policy and take out one through my broker. Further to this, I will be taking this to the ombudsman. I also advise people looking for insurance not to go through Standard bank as they do not pay legitimate claims, and your risk is not covered. You will not feel safe. And they are MUCH more expensive than other insurers. They are fleecing South Africans in our current state, rather than being a responsible, ethical corporate. Quite disgusting.