Over insured and charged

To Whom it may concern

I have had a recent problem with Finrite regarding my excess payments. I have now come to find that the problem is actually with Telkom who has over insured me on my phone.

• In March 2017 I started paying R242 for my phone insurance. I had the iPhone 7 128GB Gold. Contract attached • In May 2018 my premiums were increased without my knowledge or without notifying me and asking me if I accept. I started paying R244.12 • In September 2018 I had my first claim and Finrite replaced my phone with an iPhone 8.

According to Finrite, the iPhone 8 fell in the band R15001 - R20,000 and hence the payment of R244.12. When I originally took my iPhone 7, it fell in the band R12,501 - R15,000. I was supposed to only be paying approx. R194 for my insurance. The Telkom shop that took out my insurance, selected the wrong option and over insured me. This means I have paid approx. R740.60 in excess since 2017. I calculated this as follows;

• Actual amount I should have been paying while I had the iPhone 7 – R194. I had it for 19 months prior to my claim and iPhone 8. That is a total of R3686. • What I actually paid – 14 months x R242 & 5 months x R244.12 = R4608.60. • That is R740.60 more than I should have been paying for the iPhone 7.

Please investigate this and refund me soonest.