Standard Bank Insurance

Standard Bank valuated my house for R850,000.00 in March this year but they charge me insurance of R2.6 million for structural and R2.6 million life cover . My outstanding bond with them is currently R167,000.00. Being unhappy with the high insurance, I then took out structural insurance and life cover with Discovery insure to cover the bond with Standard Bank. Standard Bank has now come back to say they will not accept the cover with Discovery for R 360,000.00 it must be for R2.6 million.

Can someone please advise me on this?