02/08/2008 16:35 - (SA)
Reader overjoyed after insurance ombudsman rules in his favour
Nhlanhla Ncaca
MOSES Bafolo’s wrangle with two insurance companies over an insurance claim is finally over.
“Hotline advised me to lodge a complaint with the ombudsman for short-term insurance.
“I am grateful to Hotline for all the support during the hard times. The experience was traumatic, but I am glad that the money has finally been paid out,” said Bafolo.
Bafolo’s battle with the two companies, Renasa Insurance Company and Hollard, ensued after his car, a Toyota Venture, was stolen.
When he paid a deposit on the car, which was financed by Standard Bank, Bafolo took out two vehicle insurance policies. He took out comprehensive vehicle insurance with Renasa and he purchased shortfall cover from Hollard.
He paid a monthly premium of R307 on his Renasa policy and R78 towards the shortfall cover. His car was insured for R70 000.
In January last year his car was stolen and he submitted insurance claims to Renasa and Hollard.
At the time he owed Standard Bank R66 900. Both companies settled the insurance claim, but Bafolo was left with a shortfall of R19 150. Renasa paid out R33 680 and Hollard paid out R10 313.
After struggling to claim the full settlement from both companies, Bafolo contacted Hotline.
Renasa refused to comment and referred allBafolo the correct amount in terms of his shortfall cover.
The company further claimed that Bafolo had extras on his vehicle that were not adequately insured.
Hotline advised Bafolo to lodge a complaint with the ombudsman, who ruled in his favour.
Bafolo received R23 750 from Hollard. “It was a fair hearing and I am happy with the outcome,” he said.
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