Why not the best premium from the start?

I have been with FFW for almost 8 years and I will be getting my 2nd Cash Back in April 2025 - all going well, like it has been up to now.

Today, I received my annual policy review and my short-term insurance premium (car, motorbike, bike trailer and household contents) is set to increase by R575.00 from January 2025, with NOthing changing, except my household contents increasing by about R50K.

After a rather irate conversation with their Retentions Department, I have now "negotiated" a premium increase of a mere R87/month from January 2025 with the cover as it was, AND a discount on my December 2024 premium of around R500.00 odd.

Firstly, why the substantial increase in premium (24%!!!) considering my track record to date? Secondly, have I subsequently been "over-paying" IF I was able to get such a sizable discount, albeit for just one month? Do other FFW clients know about the Retentions Department? Or are they merely going to pay the increase without querying it?

Once I have received my Cash Back in April, I will be shopping around for a new short-term insurer who will value my loyalty to their brand, without being more concerned about adding to their bottom line.