Took a chance with the wrong person

After purchasing a new car, I approached my current insurer, Indequity for a quote. I was happy with the offer and accepted the quote. I got the car at a very good price, which is why I purchased it.

I myself am a professional in the insurance space, so I have a extensive knowledge and understanding of insurance law and principles.

Indequity is now refusing to insure my car for the correct value, and will only cover me for the amount I paid. The basic principle of insurance is to put one back in the same position one was in prior to a claim. If my car is ******, they will not pay me out the retail value, which is the amount I require to replace it, but they are only willing to cover me for R100k less.

Really sad that a company who works with degreed individuals tries to take chances like this. I will be taking this to the OSTI to make aware of the unfair practices happening at Indequity