What is most likely to make you cancel your insurance policy?

What is most likely to make you cancel your insurance policy?

  • Affordability

    Votes: 32 31.1%
  • No response received - emails and calls not answered

    Votes: 25 24.3%
  • Changes in pricing

    Votes: 27 26.2%
  • Comparing brands to brands

    Votes: 12 11.7%
  • Slow turnaround time

    Votes: 5 4.9%
  • Referral - dissuasion by others

    Votes: 2 1.9%

  • Total voters
    103

wingnut771

Honorary Master
Joined
Feb 15, 2011
Messages
15,062
So glad I left this ripoff of a service.

I signed up with Mccarthy towing which offers the same as above, including towing for up to 4 vehicles and household assistance (plumbing, electrician etc). I've claimed for a few tows already without hassles.

All for R77.
Thanks, am looking for ways to reduce my overheads - times are tough.
 

wingnut771

Honorary Master
Joined
Feb 15, 2011
Messages
15,062
Must say. My Broker + Santam have been awesome over the years. They have never queried my claims and they have always allowed for me to choose where I want to take my vehicle for repairs and pay out immediately. Same when I wrote of my phone.

I guess it is when your house burns down you only know how helpful they are.
Your house burned down?
 

RedViking

Nord of the South
Joined
Feb 23, 2012
Messages
41,988
Missing in the poll options is one rational reason to cancel insurance: No longer required.

Since insurance is really a way of indemnifying against unforseen or calamitous loss - at some point the NPV to the owner might be less than the accumulated premiums over the projected timeframe.
So you bump into someone's Ferrari you going to pay out of your pocket?

Someone empty your house you will replace everything out of pocket?

If yes it is more a position of wealth and long term planning while you had something previously in place or luck.
 

Arthur

Honorary Master
Joined
Aug 7, 2003
Messages
25,995
So you bump into someone's Ferrari you going to pay out of your pocket?

Someone empty your house you will replace everything out of pocket?

If yes it is more a position of wealth and long term planning while you had something previously in place or luck.
Nowhere does it give the options as between insurance and completely no insurance. Of course you need cover for major risks of calamitous loss.

I am quite amenable to cancelling the theft/loss insurance cover on say certain depreciated moveables at a certain point in time, when it no longer makes sense to pay the premiums.
 

RedViking

Nord of the South
Joined
Feb 23, 2012
Messages
41,988
Nowhere does it give the options as between insurance and completely no insurance. Of course you need cover for major risks of calamitous loss.

I am quite amenable to cancelling the theft/loss insurance cover on say certain depreciated moveables at a certain point in time, when it no longer makes sense to pay the premiums.
Ah! I agree with you. I only have very expensive stuff on insurance that my current personal insurance budget can't cover. But it increases with time and then I can remove smaller things from the insurance.
 

chrisc

Executive Member
Joined
Aug 14, 2008
Messages
9,761
Insurance is a necessary evil
When we started to get load-shedding, the ins co were quick to reduce their maximum liability from R50k down to R5k for this type of loss
Trouble is, they did not notify anyone
One time in about 2007, when the power came back on, it went on/off/on/off a few times. Then the transformer in the next street exploded with a loud bang
Some 12 appliances and electronic items were damaged, all beyond repair. The replacement came to R52k. They paid R5k
When I complained, they said the new Ts and Cs were available to read on their website and what was written on the website superceded any written agreement. It was incumbent on me to read this
The insurance ombudsman agreed with Santam, even though no-one had been notified. They called it "an unfortunate ommission"

I changed to Alexander Forbes. During a storm, lightning hit the pole across the street. My loss was R33k and they paid in full under a week
 

deweyzeph

Executive Member
Joined
Apr 17, 2009
Messages
9,124
This is why I subscribe to the AA, a flatbed truck towing service on standby, flat battery, locked keys, run out of fuel, whatever. Nice peace of mind. R220 per month.

AA is far superior to the crappy "free" breakdown cover you get with your car insurance. They have come to my rescue more than once, including once when my car broke down in Du Doorns just outside Worcester on the way back to Cape Town on a Sunday afternoon. They sent a flat bed truck out from Worcestor to come pick me and the car up and drove all the way back to Cape Town (a distance of about 170km) no questions asked. Worth every penny.
 

The_MAC

Executive Member
Joined
Oct 11, 2012
Messages
6,533
Such a necessary grudge purchase.

Just the other day, car gets side swiped by a truck, R60k damage - insurance paid no issues.

Had I cancelled due to working from home, or whatever other reason, I would have been screwed.

This is my 3rd claim with Momentum over the last 6 years (all due to a third party), no issues all 3 times
 

wingnut771

Honorary Master
Joined
Feb 15, 2011
Messages
15,062
AA is far superior to the crappy "free" breakdown cover you get with your car insurance. They have come to my rescue more than once, including once when my car broke down in Du Doorns just outside Worcester on the way back to Cape Town on a Sunday afternoon. They sent a flat bed truck out from Worcestor to come pick me and the car up and drove all the way back to Cape Town (a distance of about 170km) no questions asked. Worth every penny.
Yeah, been a member for yonks. Used them a few times for flat battery and breakdowns. I like them because of the flat bed. Don't like those V8 bakkie tow trucks.
 

Mogo

Well-Known Member
Joined
Apr 2, 2012
Messages
284
What's their payout run rate like? Any experience from others you have heard?

This was my experience in Aug.
I had probably been with Naked about 3 months or so before claiming and it was a pleasant experience. Took about 3-4 weeks from submitting a claim to receiving my car from the panel beater. Someone reversed into my rear door which resulted in 40k in damages, and all I paid was 1.5k as my excess.

Had car hire for the duration as well.
 

LCBXX

Honorary Master
Joined
Apr 11, 2006
Messages
15,746
When I change to another provider or if I'm in financial distress and cannot pay it.
 

Nocturne

Well-Known Member
Joined
Aug 20, 2005
Messages
325
Other: Too many declined claims, refused on some silly little technicality or fine print in my contract. Basically, looking for excuses to NOT pay out any claim the client makes, no matter what.
 

wingnut771

Honorary Master
Joined
Feb 15, 2011
Messages
15,062
Other: Too many declined claims, refused on some silly little technicality or fine print in my contract. Basically, looking for excuses to NOT pay out any claim the client makes, no matter what.
name and shame
 

ToxicBunny

Oi! Leave me out of this...
Joined
Apr 8, 2006
Messages
99,783
Worse is when they pay out, then hike your premium as punishment for having the nerve to use the product that you're paying for...

My favourite one, and its why I left my last insurance company...

I had claimed twice over a period of 2 years for accidents, neither of which was my fault.. I was merely a "passenger" in someone else not being able to drive.. Then I had an accident that was largely my mistake... Bit of a fight to get my insured value payout (but not massive).. I then replaced my car with something a bit better and they quoted me some ridiculous premium because I'm a "risky" client who has claimed too much...
 
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