My cellphone was. It was insured, so I processed the claim. The consultant, Sheryl was very informative with regards to the procedure and very helpful with the process. she contacted me today to discuss the payout. the phone was insured for R4600 2 months ago, was now discontinued by the supplier and only worth (according to them) R2600. Minus the access a grand total of R1700 is now being paid out to me. Please do not misunderstand. Everything has been settled quickly and professionally. Is it, however, ethical for the insurance company to insure a product valued at R4600 and then pay out R1700. I was told that it is my responsibility to check yearly the values of my insurance, but this policy was only amended 2 months ago. Also, i can go buy the exact same phone at Makro today for R3600. I would think a logical satisfactory client way of handling this would be to deduct my access of R950 off the insured amount of R4600, leaving me with a usable balance so that I can replace my phone. The consultant was only the messenger but I think the policy leaves much to be desired.
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