Edgars
And

I insured a cell phone to the value of R5000-00. I have to pay a monthly premium of R80 for this insurance which I feel is a bargain. Yet, recently my phone got and I was expecting to be paid the R5000 as that was the agreement and this is what my monthly premium is for. However, the company wants to pay me R2500 due to the decrease value of the phone.

i understand, my old cellphone will no longer cost me R5000 to replace, however, then why am I paying a higher monthly premium if i am getting paid out the same sum as a product insured for R49 per month would get??? i am highly upset about this

I will NEVER again insure my belongings with this of a company and cancel my remaining insurance policies as well.