On 20/21 Jan 13 Empangeni experienced flash flooding. A retaining wall between me and my neighbours started to colapse. I contacted Outsurance immediatly, On 23/01/13 an assesor inspected the property and informed me that they might not repair the wall as it is only 4 inches and not 9. What they might do is pay me out a portion and the repair cost will be for my account. When he measured the wall he excluded an portion that I repaired years ago. I was paid out just over R7000.00 after my access was deducted. The repair cost amounted to R24000.00
They accepted my premiums, paid yearly in advance, since I purchased the property in 1994, i was never told that the walls are incorrect.
Surely FNB and Outsurance has a duty to inspect a propery before a home loan and insurance cover is granted, and inform the buyer of obvious latent defects
As a Platium acc houlder of FNB and a client of since 1974 I am considering to move all my accounts to another bank and another insurance company
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