Home/Building Insurance Question

[Jam Sandwich]

So last week my Hikvision 8 camera CCTV and the hardware kit as well as a GSM alarm system was damaged in a lightning strike.

Standard Bank sent around a camera/alarm guy who assessed it all.

Aside from claiming on a broken MTB bike 10 years ago I have never had to claim, so I am unsure as to what happens with the claim?

What will happen if the insurers approve? Do I get paid out the value of the system and the alarm and I replace everything or will the insurers just get the alarm/cctv guy to replace the systems? None of the cameras, DVR, power supply work as well as part of the cabling that was burnt, so its all toast.

The system is 5 years old this June and I would prefer to replace with a few wifi cameras and mini UPS's scattered about so if it happens again I dont lose the whole system. Im now in week 2 of no security and its a bit of a pain.

 

[Snyper564]

You can usually agree this with your insurer.

For example.

I had a fitness watch stolen lets say R10k they just refund the amount without excess and I replace if I want.

You would likely get replacement value and can orginise the replacement yourself.

 

[Mannydefreitas]

Firstly Stanbic is useless.
I was with them, they are a horrible company to insure with.
I eventually moved.

They generally like you to use their contractors, but I took the "Cash Settlement" in most cases because their contractors failed to instill me with confidence.

In fact, knowing their Contractor Rates, there is no way any honest Contractor could survive working purely on their panel.
So they will shaft you.
They have no choice.

Wait for the contractors to come quote, they'll probably send two.

Then ask for the Cash.

I'm sure it'll all be sorted in a few months.

 

[soulie]

on such a minor claim they may just reimburse you and you replace on your discretion .if under a certain value like say 15 k it should be quick . insurance is there to put you back in the same position as before the loss ,not to improve on the lost product ,for them reimburse will be the easiest ,but some get huge kickbacks from the distribution guy so its not cast in stone .also insurance stipulates usually like for like ,cameras are niw old probably no longer available cant replace like for like ,would have to upgrade you ,no insurer likes that .

 

[Jam Sandwich]

Firstly Stanbic is useless.
I was with them, they are a horrible company to insure with.
I eventually moved.

They generally like you to use their contractors, but I took the "Cash Settlement" in most cases because their contractors failed to instill me with confidence.

In fact, knowing their Contractor Rates, there is no way any honest Contractor could survive working purely on their panel.
So they will shaft you.
They have no choice.

Wait for the contractors to come quote, they'll probably send two.

Then ask for the Cash.

I'm sure it'll all be sorted in a few months.

You think it will take that long? I might as well buy my own cameras now then?

The guy they sent out was nice enough but as you say, they dont instill any confidence in you...Guy didnt even bring a ladder...

 

[Jam Sandwich]

Im just reading through pages and pages of complaints on Hello Peter and FB about Standard bank insurance...

Looks like I should have changed long ago but I guess you dont know till its claim o'clock how useless they can be...

 

[deweyzeph]

Not a **** would I allow some unknown insurance-appointed contractor to come install something as important as my CCTV and alarm system. That's stuff you either do yourself, if you feel confident enough, or get a trusted third-party to do.

 

[Jam Sandwich]

Not a **** would I allow some unknown insurance-appointed contractor to come install something as important as my CCTV and alarm system. That's stuff you either do yourself, if you feel confident enough, or get a trusted third-party to do.

I did do it myself... Bought one of those kits with cables etc on Takealot and spent a saturday installing it all... Wasnt actually too bad.

 

[Hemi300c]

Never insure through a bank
You'll probably get a quote from "Standard Bank sent around a camera/alarm guy who assessed it all."
Some will some won't replace the actual DVR as this is considered by some as contents.
Most decent insurers will be open to upgrading the system
Ensure you get a guarantee/warranty on the work done if done by their guy.
Also everything must be setup and running for indemnification to have taken place.

 

[deweyzeph]

I did do it myself... Bought one of those kits with cables etc on Takealot and spent a saturday installing it all... Wasnt actually too bad.

Yeah, some of these contractors are just useless. I installed my own Paradox alarm system at home. Now, I am by no means an expert alarm installer, but I'm handy with a screwdriver, and I can read a manual. I figured it all out pretty quickly, and programmed the system using Babyware which you install on your laptop and connect to the control panel using a special module with an RJ45 port that gives you tcp/ip access to the system.

Next step was for the alarm monitoring company to install their radio transmitter. The guy they sent was so useless, I ended up helping him install the radio transmitter, something I had never done before, and when I showed how easy it was to program the system through software on a laptop instead of through a keypad with special codes, it blew his mind.

 

[The_MAC]

They should give you 2 options, cash settlement or contractor appointment, opt for cash settlement.

Only tip I can give you is scrutinize the damage report, and push back against any unreasonably low values i.e. labour, quantities etc.

 

[Jam Sandwich]

Never insure through a bank
You'll probably get a quote from "Standard Bank sent around a camera/alarm guy who assessed it all."
Some will some won't replace the actual DVR as this is considered by some as contents.
Most decent insurers will be open to upgrading the system
Ensure you get a guarantee/warranty on the work done if done by their guy.
Also everything must be setup and running for indemnification to have taken place.

Ja.. I wasnt too savvy with the insurance. It was part of the original home loan...

As for the cameras i thought it was part of household contents till i tried claiming from Outsurance....apparently even if i just use wifi cameras on shelves and bookcases and not fix them to walls they still form part of the building insurance.

 

[Mannydefreitas]

You think it will take that long? I might as well buy my own cameras now then?

The guy they sent out was nice enough but as you say, they dont instill any confidence in you...Guy didnt even bring a ladder...

My last claim, my genius maid burnt her rooms down, took over 4 months and then they only paid because I lost it and threatened them, physically....

 

[The_MAC]

Firstly Stanbic is useless.
I was with them, they are a horrible company to insure with.
I eventually moved.

They generally like you to use their contractors, but I took the "Cash Settlement" in most cases because their contractors failed to instill me with confidence.

In fact, knowing their Contractor Rates, there is no way any honest Contractor could survive working purely on their panel.
So they will shaft you.
They have no choice.

Wait for the contractors to come quote, they'll probably send two.

Then ask for the Cash.

I'm sure it'll all be sorted in a few months.

Had this exact experience very recently.

First time in my life I decided to appoint a contractor, normally it was cash and then I sort it out.

The contractor was at least honest, but boy did they botch up 50% of the work, it got so bad that I told him to leave, and privately pay me back the money for the work that was outstanding that he clearly did not know how to do.

He did, he paid me back, then he claimed the full amount from the insurance. I got my own guys in and within 2 days it was done, something that he couldn't do in 2 weeks.

Lesson learnt.

The key is to thoroughly look through the costs on the damage report from the assessor ,if something is amiss, don't accept it and send back to the insurance, otherwise you will end up short changed.

 

[The_MAC]

Ja.. I wasnt too savvy with the insurance. It was part of the original home loan...

As for the cameras i thought it was part of household contents till i tried claiming from Outsurance....apparently even if i just use wifi cameras on shelves and bookcases and not fix them to walls they still form part of the building insurance.

That's a load of crock from them.

I had my wireless alarm beam replaced under household contents via Momentum. The rational was, when I move, I am taking it with me, therefore it is movable.

 

[Mannydefreitas]

Jam Sandwich, Outsurance and Stanbic?

You pick them..

 

[Jam Sandwich]

That's a load of crock from them.

I had my wireless alarm beam replaced under household contents via Momentum. The rational was, when I move, I am taking it with me, therefore it is movable.

Thats what i said to Outsurance, the new wifi cameras wouldnt be fixed and the idea was to take them when i sell and leave.. The guy put me on hold to speak to his claims manager and came back to me saying they are only claimable on the building insurance?

 

[Jam Sandwich]

Jam Sandwich, Outsurance and Stanbic?

You pick them..

Although to be fair to Outsurance, when i claimed on my bike for a broken frame.. (Frame had already been replaced by the manufacturer and broke the second time in exactly the same spot) they paid outwithin 2 or 3 days with no problems...

 

[Mannydefreitas]

That's a load of crock from them.

I had my wireless alarm beam replaced under household contents via Momentum. The rational was, when I move, I am taking it with me, therefore it is movable.

Very simple to work out which insurer pays when:

If you sell your home to me, everything I get, the building, the doors, the alarm system, the plants, etc is with your Bond or Property Insurer.

Everything you take, your books, clothes, TV, stockpile of porn, Airfryer etc, is covered by your Contents insurer.

In some provinces you leave the fridge, but let's not get into that here....

 

[The_MAC]

Very simple to work out which insurer pays when:

If you sell your home to me, everything I get, the building, the doors, the alarm system, the plants, etc is with your Bond or Property Insurer.

Everything you take, your books, clothes, TV, stockpile of porn, Airfryer etc, is covered by your Contents insurer.

In some provinces you leave the fridge, but let's not get into that here....

It's a fine line, was meant to be anything that doesn't fall down when you turn the house upside down, but then again, who wants a portrait of me standing proudly in my underpants..