Premium Increase Nightmare!

My insurance premium increased by an overall 28.29% across the 3 areas I have covered under them (Home contents; portable possessions; Car); by far the worse increase I have every received by an insurance company. 1. Home contents: 30.13% increase 2. Portable possessions: 24.01% increase 3. Car: 30.33% increase

After requesting a review, I received a dismal 96c deduction.

The feedback I got for my car and portable possessions: 1. Car: "When it comes to motor insurance the majority of claim paid- are for accidents and not write-offs or ****** vehicles. So one of the main factors in detrmining motor premiums is the actual cost of repairing the vehicle. The prices of the parts also constantly increase with inflation. As a result, we have to increase our premiums every year regardless of whether the insured claimed or not, to cater for the increase in the cost of repairing accident damage" 2. Portable possessions: "Cover for Portable possessions is heavily influenced by the Consumer Price Index (CPI) and the reason why insurers have to increase the sum insured values. These items will cost more to replace and repair a year later due to inflation"

This is blatant greed from Momentum and a clear indication of just wanting to squeeze more money out of "loyal" customers; this outside of the general response some insurance companies give to sugar coat them wanting more money for salaries, bonuses, etc.

I strongly advise to not consider Momentum for any insurance business to protect your possessions otherwise you will be prey for their overpriced premium increases, delayed service and never ready to assist you when you ACTUALLY need them.