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francolamprecht F

1 reviews | Active since Jan 2017

15 Feb 2024, 09:52

Iwyze 30% Price Hike within 1 month

This is actually a 0 star rating. I've been insured with iwyze for more than 2 years, My insured vehicle is a 2012 Amarok 120kw 4motion. My comprihensive cover was for the past 2 years R984.12 since 2022 on the 1st of February 2024 they increased my insurance to the amount of R1063.19, and then again on the 1st of March 2024 to the amount of R1273.77, this is a price hike of 30% within a month period. I phoned iwyze and explained my situation that this is a 30% increase within a short period and my isurance was stable at R984.12 without any claims and a fitted tracking device. With the ratio and calculations i'll be paying double the amount within the next 2years for a vehicle that is 15 years old not a high risk vehicle like a ford ranger or polo, the answer they gave me is the company took a different direction regarding their policies and parts are expensive and the economy etc. But what about the economy affecting the customers? A price hike twice within 1 month is unetichal and 30% increase is unacceptable for a vehicle that is depreciate in value. They don't care about loyality and unclaimed customers. This is the worst experience ever.

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Replies (2)
iWYZE
iWYZE's reply15 Feb 2024, 10:12
Official
Good day Franco L,

We acknowledge receipt of your complaint and regret to learn that our service has disappointed you. Kindly be advised we have escalated your query to the relevant department to assist further.

Regards
The iWYZE Team
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francolamprecht F's update15 Feb 2024, 11:22
Reviewer Update
Thank you, I'm currently busy with quotes to move to another insurance company, I phoned the iwyze team and they only explained their side enforcing the increase and not how it affects the customer. its unetichal to make a price increase twice in one month to 30% (Almost 1/3 of my premium) thinking its okay by sending communication of the price increase and the client should accept but never in my life have I seen such a greedy exploiting bussiness no resolution what so ever. Highly disgusted