Insurance Premiums not Decreasing

<p>I think most normal people take insurance to guard against unexpected incidences. I have a car insurance with ABSA Idirect which had its premiums increased because of my claim history. It increased from R1080 to R1500 in January. In February the premiums increased to R1829.42 and the reason is the annual price review or assessment. My issue is the review is only considered for increases and not for decreases while the value is depreciating. I really wanted to be loyal to ABSA Idirect but I have to realise when I am being taken for a ride.</p>