We have Absa Bond and originally was covered by Sanlam. When Absa took over our bond their Insurance also took over the Insurance of the property. They never communicated the contents thereof or the clauses or never even send us the documents. We claimed damages caused due by heavy cyclone storms in our area and we were paid out without a hassle. In February of this year however we were hit by a severe cyclone storm which damaged many of our properties on our Estate as well of those surrounding us. When we conducted our claim and subsequent assessors were appointed, we had to discover that since we are now all of a sudden under insured they will not pay us the full amount, as they compiled a "awary" clause which is the percentage of the buildings to size against your replacement value. Not after any of the previous claims had Absa contacted us and informed us that we were under insured. Our claims previously was under R100K and now was more than R350K. Now that we addressed this issue with their they just keep sending us down to regional who says claims were paid out but they dont address the letter at all we wrote them or even come forward with an offer. Why? We pay!
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