MiWay
Poor payout value!

CLaim number C465615.
I am not happy with the retail value stipulated by miway on my Hyundai Atos. I believe that retail value of my vehicle should be based on replacement value ie: current selling price of the vehicle. My vehicle was purchased for R50 000 roughly 8-9 months ago. This vehicle currently retails for R45 - R55K at dealerships. I want Miway to answer the following questions:
- Show me one dealership where I can buy a 2007 Hyundai Atos Gls for R35 000. If not then what is the point of insurance?
- What was the retail value of my vehicle when I insured it?
- If the retail value of my vehicle was not R50 000 or more why was I not informed?

I expect competent reply. Do not reply by quoting Miway policy ie: The retail value according to the book is xyz. I've heard this before and dont agree. My vehicle should not have been under-insured! I expect written feedback backing up any verbal communication

Company: MiWay
Country: South Africa
City: Headoffice

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