39% Re-rate......

On the 1st November '22 I receipted a re-rate letter from MiWay stating that my premium would not be increasing for the year ahead. On Friday now however I receive another re-rate letter, now advising that as of the 1st December by premium will be going up by 39.15%. Really!!! Current CPI is 6.5%. Please take a look at what my current loss ratio is with MiWay along with how long I have been with you - if I recall I joined MiWay in 2009. My car is out of warranty so in the event of a loss generic or locally sourced parts would be used. My vehicle also is not a import where parts are difficult to source or need to be sourced internationally, so the issue of part prices etc wont fly. Furthermore, the retail value on my vehicle has decreased over the year - so your exposure here on my vehicle would be far less. Additionally, I have not had a single claim on my current vehicle insured by you since I added it. While I did have two unfortunate contents claims in the last year plus, the value of these two claims is negligible when compared to what I have paid over the past 14 odd years. Please have someone call me today to cancel my policy. @Naked insurance, thank you for your online quote, the moment I have my cancellation confirmed I will be accepting cover.