Standard Bank Customer Stranded After Geyser Burst

A STANDARD Bank customer, whose house was flooded in May this year after a geyser burst, has accused the bank of cancelling the insurance policy on the house without informing him.

Joshua Hidinwa says he was shocked when he submitted an insurance claim for the geyser but was told that his account had been cancelled.

Hidinwa bought the house in Windhoek with a loan from the bank in 2008 and registered with the bank’s house insurance policy in 2011.

In May this year, Hidinwa says, he travelled for the long weekend and upon his return, found the house flooded.

After inspecting the damage, he realised that the geyser, which had malfunctioned and burst, had caused the flooding.

“I was lucky the water did not go into any of the electrical sockets as this could have resulted in a bigger damage,” said Hidinwa.

He said the bank has been deducting a premium of N$300 per month since 2011 for the house insurance policy, which was meant to cater for any damage that might arise but he was told that his account had been cancelled and there would be no refund for the premiums.

“They still deduct money from my salary yet they say, they cancelled it because I stopped paying for it,” he said adding that he did not know his account had been cancelled.

“I did not cancel it, why did the bank not notify me and now they are telling me I cannot get a refund unless I pay what is outstanding since 2012,” said Hidinwa.

An official in the department of insurance at Standard Bank, who declined to be named, said: “We tried to inform Hidinwa many times in 2012, that his account had been cancelled but he never got back to us, so there is nothing we can do for him now.” The official did not explain why Hidinwa’s policy was cancelled.

The official added that once an account is cancelled, there is nothing that can be done as there are no refunds. “Maybe he can open a new account and start afresh.”

Source : The Namibian