"Unfair Payouts and Mismanagement: My Frustrating Experience with Standard Bank Insurance"

I made a claim at the beginning of December 2024 pertaining to a pipe burst. After the access payment, repairs to the pipe were completed. When it came time to rebuild, the builder came to inspect and provided feedback to the bank. Standard Bank contacted me, and according to their claims department, the builder suggested they pay me out. They sent me an offer, and this is where the trouble began.

According to Standard Bank, the contractor claimed I told him that I wanted my entire bathroom refurbished at the expense of Standard Bank Insurance. This not only infuriate me but also raised the question: hypothetically, if I had said so, why did the bank not call me back to clarify and state, "Ma'am, the conditions of your contract permit no such a thing"? This would have given me the opportunity to clear any misconceptions. Who makes such a claim for damages? This accusation suggests I am both unconscionable and *********. You cannot imagine the humiliation.

The bank proposed a payout of R2,602.70 for Claim No: 24/095821, lodged in early December 2024.

Before signing the Agreement of Loss, I undertook thorough due diligence to assess the feasibility of completing the required repairs within the proposed payout amount. I engaged a reputable contractor, who conducted an on-site inspection and provided a detailed quote of R4,653.25. For this assessment, I incurred a callout fee of R300, which further adds to the financial burden resulting from this claim.

I am both appalled and deeply disappointed by the discrepancy between your offer and the actual cost. The amount is both significant and concerning. For clarity:

-Difference:R4,653.25 (Actual Cost) - R2,602.70 (Offered Payout) = R2,050.55 - Percentage Shortfall: (R2,050.55 / R4,653.25) x 100 = 44.07%

My choice a private contractor was not arbitrary. This contractor was previously recommended by Standard Bank Insurance Department for a similar repair claim, during which their professionalism and craftsmanship exceeded expectations. Their past association with Standard Bank underscored their competence and reliability or so I assumed.

To emphasize, self-enrichment is not my objective. I merely seek to ensure the necessary repairs are completed to the standard that Standard Bank has rendered me accustomed to. Regrettably, I was compelled to formally, yet ever so humbly, reject Standard Bank Insurance's proposed payout. At the same time, I expect the damages to be repaired appropriately and in line with the original agreement before any payout is finalized.

Standard Bank has also indicated that they are unwilling to cover the cost of the tile as it no longer available on the market, a thinly veiled excuse. My tile may no longer be available, but how is it that R2,602.70 sufficient to cover the damages and what yard stick was used for this measure. This does not make sense. There are too many moving parts to this story.

In summation, all I want is for this claim to be reassessed and resolved promptly and amicably, fully accounting for both the shortfall in the payout and the need for a trusted, qualified professional to complete the repairs. In the wake of my mom passing the whole in my wall contributes to my unending anxiety.