I have been a Outsurance customer for many years and my OutBonus is due in 4 months time. In the mean time, I changed jobs and I had to move my vehicle and household contents insurance as my employer is pick these up as part of a group scheme.
I'm have cancelled my vehichles with outsurance, but unfortuantly I cannot cancel my household contents with then otherwise I would lose around R8000 in OutBonus.
Does anyone know what the legal position is about being insured for household contents by two insurance companies?
This is a extract of my one clause in my new insurance's T&C's
If at the time any claim arises under this Policy there is any other existing insurance covering the same loss or damage
SASRIA shall not be liable to pay or contribute more than its ratable share of any loss or damage.