1 reviews | Active since Mar 2014
Business decisions to increase my premiums
In the last six months my premiums/excess has gone up 3 times.<br> <br> Initially in November 2015 it went up by 18%. I thought this was related to the 2 claims I had unfortunately had to make that year. I accepted that that was how insurance companies work and let it be.<br> <br> Then in March 2016 on my so called \insurance anniversary\" my premiums went up by another 15%. So I contacted the Discovery insure call centre, they assured my my premiums only change up or down(probably up) once a year on my anniversary and they were not sure why it had increased in November as this increase was not on the system(???). They advised I email them. Their response was basically they had increased my premium because everything was getting more expensive. A business decision.<br> <br> Now I get an email that my excess is going up! This essentially means my premiums are going up if I want to rather keep my excess what it was, although apparently Discovery Insure does not see it this way, they are adamant it is an excess increase(semantics). The reason for this increase is apparently a business decision, whatever that means.<br> <br> So my premiums don't only change on my anniversary, they change whenever Discovery feels like."
When we initially quoted you on your policy premium, your previous claims history was one of the determining factors in the calculation.
Considering that there were claims made prior to your policy anniversary, this changed your risk profile.
Sometimes premiums or excess' prices may change across the board, for all clients, and sometimes your own premium or excess because your level of risk has changed.
Your premium is likely to change each time you renew your insurance plan, this is because things such as, inflation, your individual risk reassessment, number of claims experienced in the insurance sector, and large claims due to natural disasters are likely to influence your premium
We acknowledge and understand that you are unhappy with the excess restructure on your policy, as an insurer we are constantly reviewing our plans to ensure adequate and fair cover for all clients.
Regards,
Sakhe
Discovery Insure
When we initially quoted you on your policy premium, your previous claims history was one of the determining factors in the calculation.
Considering that there were claims made prior to your policy anniversary, this changed your risk profile.
Sometimes premiums or excess' prices may change across the board, for all clients, and sometimes your own premium or excess because your level of risk has changed.
Your premium is likely to change each time you renew your insurance plan, this is because things such as, inflation, your individual risk reassessment, number of claims experienced in the insurance sector, and large claims due to natural disasters are likely to influence your premium
We acknowledge and understand that you are unhappy with the excess restructure on your policy, as an insurer we are constantly reviewing our plans to ensure adequate and fair cover for all clients.
Regards,
Sakhe
Discovery Insure