About Nedbank Insurance
Nedbank Insurance is part of the Nedbank Group of companies, which includes Nedbank banking services, and is one of the largest financial services providers on the South African market. Nedbank has two partners in the financial services niche, one is Mutual and Federal, and the other is Old Mutual (which holds 52% of shares in the Nedbank Group). Nedbank was founded in the 1830s. The current CEO of Nedbank South Africa is Michael William Thomas Brown, and the COO is Graham Wayne Dempster.
Nedbank Contact Details
The Nedbank head office is located at Nedbank Sandton, 135 Rivonia Road, Sandown 2196. You can contact the company by phone on 0860 555 111. Unfortunately, the Nedbank Insurance website does not list an email address, though there is a form that you can fill out to have a representative contact you. The Nedbank Insurance website can be found at www.nebank.co.za.
Which Services Do Nedbank Provide?
The Nedbank Group provides a full range of financial services, including banking, investing and wealth management. Nedbank Insurance offer everything from life, vehicle, commercial and business insurance options to household insurance.
Nedbank Home Insurance
The Nedbank Insurance website states that the company offers two home contents insurance policies, referred to as Basic and Comprehensive, designed to protect your possessions. Unfortunately, the site only lists a link to the benefits of the Comprehensive insurance option. The features of this Comprehensive plan are as follows:
- Landslip and subsidence coverage is included;
- There is coverage for damage caused by burst or leaking geysers;
- Includes coverage for alternative accommodation (should you be unable to stay in your home), guards (should you be unable to secure your home), and emergency repairs;
- Coverage for both break ins and theft as well as for attempted break ins and thefts;
- Includes coverage for accidental breakage of sanitary wear (such as sinks), glass and mirrors;
- Covers both the collapse and breakage of satellite dishes, masts and aerials;
- Includes coverage that will pay a limited amount should your garden be damaged (though the Nedbank Insurance website does not specify this limit);
- Includes coverage of up to R100,000 for permanent disability or accidental death of the insured paid into a bond account;
- There is personal liability cover of up to R10 million, in case you should be required to pay damages to other people;
- Covers building materials and fixtures and fittings whilst building work is being carried out.
Given that the Nedbank Insurance website does not offer a description of the Basic home insurance policy we can only assume that this policy has less features than the Comprehensive policy. However, we cannot say which features will and won't be included should you opt for the Basic policy.
Additional Features from Nedbank Insurance
The Nedbank Insurance website also lists two additional features that we assume are optional extras, requiring you to pay higher premiums should you choose to add them to your policy, though the website does not explicitly state this. These are:
- Coverage for the loss of personal documents, replacing stolen or lost credit cards, and data recovery (should your computer crash, for example);
- Option to add All-Risks Cover which will also cover the belongings that you take outside of your home, such as handbags or briefcases.
How is Customer Feedback for Nedbank Insurance?
Hellopeter, the website that allows consumers to post reviews of service providers, lists 4189 reports about Nedbank from the last year. Of these, 3570 are complaints, giving Nedbank an 85% negative rating, which is quite high compared to other insurance companies that we've reviewed here. It must be said that these reviews are about all of Nedbank's services, and aren't just about Nedbank Insurance. However, the majority of negative reviews concern poor customer service, something that is unlikely to differ between banking and insurance services, for example. A Nedbank representative has responded to all reviews, indicating that at least online feedback is important to the company.
How User Friendly is the Nedbank Insurance Website?
The Nedbank Insurance website is easy to navigate, with floating menus that make it easy to skip from page to page. Thankfully, they didn’t use many professional insurance household insurance terms and definitions which makes it much easier to understand what they are offering.
We did find two negative things when we were using Nedbank's website however. The first is that the home page is very full, and the type is very small, making it difficult to find what you need initially. The second, and much more important thing, is that despite listing two household insurance policies, the Nedbank Insurance website only provided a link to download the Comprehensive policy brochure, and gave no information at all about the basic policy. Possibly this is an oversight and a Basic brochure will be added later, but it still makes it difficult for those that may be more interested in a less expensive and less comprehensive policy.
Nedbank Insurance in Summary
Nedbank Insurance apparently offers two home contents insurance policies, however we could only find details concerning one of these policies on the company website. Consumer feedback about Nedbank is far from encouraging either, though that feedback is for all of Nedbank's services. On the whole, we do always recommend that you get quotes from as many insurance companies as possible before making your decision, since this will ensure that you get the best policy fro you as well as the best prices.
Main subject: Nedbank Insurance