I am totally and absolutely flabbergasted. My aged parents, both in their 70's live alone in a home owned by myself, the structure of which is insured by mutual and federal. The storms in Jhb blew the gate motor and when I called to lodge a claim today they said that my risk ratio has increased. So now my access is no longer just R500, but an additional amount of R4500 needs to be paid as well. Granted we have claimed a few times over the past 5 years, including a couple burst geysers, a gate motor and damage to doors caused during a burglary amongst a few other small incidents. BUT thats what you have insurance for. NONE of these claims in the past were MAJOR claims where my insurer had to fork out tens of thousands for damages! The past claims were relatively small and because my folks are old and ill they cannot tend to these issues, a decent insurer is vital to us. Without warning my access has gone up by 1000%? If old mutual does not fix this immediately I will be moving my ENTIRE OLD MUTUAL portfolio which includes 2 education policies, an RA, and a major lump sum investment.
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