Santam
Insured for Trade only

I have a hilux d4d vehicle. I purchased the vehicle for cash at a purchase price of R185000 which was a very good price paid for the vehicle.

My problem is that Santam will only insure the vehicle at RETAIL... R138 000. The problem is that the hilux brand is very sought after and you I will never be able buy my another hilux in the same model and year for R138 000. So, I am way under insured - Santam's response, they cannot increase the insured price.

How is this possible? I am very frustrated.