CV
Candice V
1 reviews | Active since Jun 2013
03 Oct 2019, 11:28
unexplained premium increase
I am disappointed with Discovery insure. My premium has been increased by 18% with absolutely zero notification by Discovery that the premium was going to be increased. I called the call center who told me the increase is due to my annual anniversary? I bought a new vehicle and with cover start date on 16 January 2019, how can it be the anniversary? Your consultant told me it based on my old policy... umm ok so my insurance is increase based on a vehicle that is no longer on this policy using my new vehicles premium???? Not only did discovery not give me any time to budget for said increase, your consultant told me they are not willing to re-quote my premium because I have submitted claims this year. First claim was an accident not caused by me and discovery got the money back from the party at fault, second claim was for scratches on the vehicle. I am not due for an increase, the new anniversary should only be at the end of January 2020, how can you bases this on old cover! Another thing... 18% increase??? 3.7 times the current inflation rate. Instead of retaining clients you would rather chase them away with ridiculous price increases. If you want to retain me as a client please rectify the increase.
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Discovery Insure's replyOfficial
03 Oct 2019, 16:09Good day Candice
Thank you for raising your concerns.
A review letter proposing the increase effected on your policy was emailed to you on the 27/09/2019.
When we undertake to increase a policy , we look at the risk profile. The claims history plays a crucial role in determining an increase percentage amongst other factors.
The incident that resulted in a write off on your previous vehicle has ultimately led to the 18% increase.
With a loss ratio of 403%, the policy is not projecting a discount at this stage.
The anniversary increase app**** to your policy takes into account your risk profile and is tied to the commencement date of the policy as a whole and not the item start date.
We suggest you add an excess amount to your profile of R3800 and the premium per month will be R883.10. Engaging on our Vitality Drive would also assist in fuel cash backs.
a quote has been emailed to you for consideration.
Regards
Discovery Insure
Thank you for raising your concerns.
A review letter proposing the increase effected on your policy was emailed to you on the 27/09/2019.
When we undertake to increase a policy , we look at the risk profile. The claims history plays a crucial role in determining an increase percentage amongst other factors.
The incident that resulted in a write off on your previous vehicle has ultimately led to the 18% increase.
With a loss ratio of 403%, the policy is not projecting a discount at this stage.
The anniversary increase app**** to your policy takes into account your risk profile and is tied to the commencement date of the policy as a whole and not the item start date.
We suggest you add an excess amount to your profile of R3800 and the premium per month will be R883.10. Engaging on our Vitality Drive would also assist in fuel cash backs.
a quote has been emailed to you for consideration.
Regards
Discovery Insure
Best regards,
Discovery Insure's reply03 Oct 2019, 16:09
Official
Good day Candice
Thank you for raising your concerns.
A review letter proposing the increase effected on your policy was emailed to you on the 27/09/2019.
When we undertake to increase a policy , we look at the risk profile. The claims history plays a crucial role in determining an increase percentage amongst other factors.
The incident that resulted in a write off on your previous vehicle has ultimately led to the 18% increase.
With a loss ratio of 403%, the policy is not projecting a discount at this stage.
The anniversary increase app**** to your policy takes into account your risk profile and is tied to the commencement date of the policy as a whole and not the item start date.
We suggest you add an excess amount to your profile of R3800 and the premium per month will be R883.10. Engaging on our Vitality Drive would also assist in fuel cash backs.
a quote has been emailed to you for consideration.
Regards
Discovery Insure
Thank you for raising your concerns.
A review letter proposing the increase effected on your policy was emailed to you on the 27/09/2019.
When we undertake to increase a policy , we look at the risk profile. The claims history plays a crucial role in determining an increase percentage amongst other factors.
The incident that resulted in a write off on your previous vehicle has ultimately led to the 18% increase.
With a loss ratio of 403%, the policy is not projecting a discount at this stage.
The anniversary increase app**** to your policy takes into account your risk profile and is tied to the commencement date of the policy as a whole and not the item start date.
We suggest you add an excess amount to your profile of R3800 and the premium per month will be R883.10. Engaging on our Vitality Drive would also assist in fuel cash backs.
a quote has been emailed to you for consideration.
Regards
Discovery Insure
Best regards,