1 reviews | Active since Mar 2009
Refusing to cancel my homeowners insurance
I have a home loan with standard bank and one of the requirements is that I should have homeowners insurance. I took out a group policy that is offered by my employer. The policy states the risk address, my full names, the amount insured as well as standard bank's interest as a mortgagee. I sent Standard Bank the policy documents and they refused them, stating they need them from the insurer. The insurer then sent them the policy documents. The bank then refused to accept the policy because they say it must be in my name. I have tried since last week (21st Sept) to get hold of Rendani Dau - who refuses to cancel the policy. The broker informed Standard Bank that because this is a group policy taken out by the employer it can't be in an individual's name. I find it ridiculous that other people from my employer have std bank mortgages and the bank had no problem accepting this but all of a sudden they have an issue with me having the same cover. This should have been resolved 4 months ago. Im going to switch my homeloan if they continue to be impossible. They have bul**** me into paying double because they automatically add the premium to my monthly debit order.
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Thank you for your posting and allowing us an opportunity to investigate your complaint.
This matter will be assigned to a resolution specialist who will contact you to resolve your complaint.
Kind regards
Complaint Resolution Centre
***
*** (fax)
***
