About FNB Insurance
FNB Insurance is the insurance arm of First National Bank, one of the largest banks in South Africa. Founded in 1838, FNB became a fully owned subsidiary of FirstRand in 1998. FNB provides a full range of banking and financial services. Policies from FNB Insurance are underwritten (financially backed) by RMB Structured Insurance Limited, and all insurance administration and brokering services are provided by Mutual and Federal. The current director of FNB South Africa is Gugu Shezia. As well as providing services in South Africa, FNB also does business in Botswana, Namibia, Lesotho, Zambia, Tanzania and Swaziland. Please note that all FNB insurance policies require that you have an account with FNB banking services.
FNB Insurance Contact Details
The head offices for FNB Insurance are located on the 6th Floor of First Place, Bank City, corner of Simmonds and Pritchard Streets, Johannesburg, Gauteng 2001. The company mailing address is P.O. Box 1153, Johannesburg 2000. You can contact FNB Insurance by phone on 087 736 7771 between 08:15 and 16:30 Monday to Friday, or write to them by email at firstname.lastname@example.org. The FNB Insurance website can be found at www.fnb.co.za.
Which Services Do FNB Provide?
FNB provide a full range of financial services including banking, investments and pension planning. FNB Insurance offers comprehensive insurance options, including life, vehicle, business and buildings insurance as well as home contents insurance policies.
FNB Home Insurance
FNB Insurance offer two different options for household insurance, called Comprehensive and Limited. The Comprehensive policy has the following features:
- Provides coverage against damage or loss to your property due to explosions, fire, or lightening;
- Provides coverage against water damage, including burst geysers;
- Provides coverage against natural disasters, including storms, floods and earthquakes;
- Provides coverage against malicious damage (such as vandalism or damage caused during break ins);
- Provides coverage against damage by animals, trees and aircraft;
- Provides coverage against theft.
The FNB Limited policy is identical to the Comprehensive policy except that it does not cover theft, and presumably therefore has lower premiums.
Benefits and Optional Benefits with FNB Home Insurance
Both of the above listed policies have the same benefits, as well as the ability to add the same optional benefits. These benefits are as follows:
- Fixed excess (you can find out more about what an excess is on our household insurance terms and definitions page);
- An excess waiver option, which allows you to waive the excess on your first claim after three years of paying premiums without making a claim;
- Road and Home Assistance is included, offering you free access to advice around the clock;
- A Retrenchment Waiver which will waive your premiums for up to six months if you should be retrenched;
- You may add a Trauma Benefit at an extra cost to provide counselling in the event of an insured event;
- You may add an Emergency Hotel Expenses Benefit at an extra cost to provide accommodation should you not be able to stay in your home after an insured event;
- You may add a Keys and Locks Benefit at an extra cost to cover the cost of broken locks and keys.
How Are Consumer Reviews for FNB Insurance?
The consumer review website Hellopeter lists 206 reports about FNB Insurance posted over the last year. Of these, 181 are complaints, giving FNB Insurance an 88% negative rating. This is relatively high compared to other insurance companies that we're reviewed. Although these reports are about all of FNB's insurance options (not just home contents insurance), some of the negative reviews cite long wait times, slow claim pay outs and poor customer service, which could apply to any of the company's insurance divisions. The positive point is that a customer service representative from FNB Insurance has replied to many of the reports.
How User Friendly is the FNB Insurance Website?
The FNB Insurance website provides plenty of information about their products, making it easy to know exactly what you're getting. The website is designed as a sort of floating window that's surrounded by menu bars. On the one hand, this makes the site easy to navigate, since you can access any page from any other page. On the other hand, this means that the space on the page dedicated to actually giving information is quite small, meaning there's lots of scrolling involved. On the whole though, the FNB Insurance website is a very user friendly experience.
FNB Insurance in Conclusion
FNB Insurance offer two different home contents insurance policies, as well as a variety of add on options that make their policies quite flexible. However, customer reviews of the company are a bit less encouraging. Insurance is a big decision though, and not one that you can necessarily base on other people's reviews, especially considering that customers are more likely to write about negative experiences than positive ones. We do recommend getting quotes from different insurance companies, which will allow you to compare policies and prices and ensure that you get the right policy for your needs.
Main subject: FNB Insurance