Absa
50% increase in premium without notification

Looking through my statement I realized that the premium for my house-owners insurance went up from R 4, 345.51 in June 2012 to R 6, 498.09 in June 2013.
This means a difference of R 2, 152.58, almost 50% increase in 1 year!!!
To make it worse, the premium was debited from my account without any prior notification or transmitting a policy amendment.
Trying to complain to ABSA, I was caught in the waiting line of the call center until I gave up.
It seems once again that ABSA is extremely good and quick in raising fees, but on the other side extremely bad and slow in providing service.
I believe it is time to shop around for some other supplier, offering at least better service for their premium...

Company: Absa
Country: South Africa
City: Homeowners Insurance

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