NO
Nikki O
1 reviews | Active since Jan 2011
29 Oct 2024, 09:34
Unreasonable
My daughter had a 3rd party claim which was 100% recovered from 3rd party insurance it now they increasing premiums and the excess. Never have ever had an insurance do this.
They say on their app increase your excess tower you premium but they increase both. Increase in premiums is acceptable but why excess (excess already high)
I'll be looking elsewhere
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Naked Insurance's replyOfficial
29 Oct 2024, 13:04Hi Nikki,
Thank you for sharing your concerns. We understand your frustration with the recent premium and excess adjustments. Periodically—typically annually—Naked reviews and updates premiums to ensure that we’re charging the correct amount based on your coverage. As claims costs tend to increase over time, we also review and adjust the excess to keep your share of claims costs aligned with what you originally selected. Without these periodic excess adjustments, your contribution per claim would gradually decrease, shifting a larger portion to Naked and leading to more significant premium increases. We’re here to help if you’d like further clarification or assistance in exploring policy options that best suit your needs.
Thank you for sharing your concerns. We understand your frustration with the recent premium and excess adjustments. Periodically—typically annually—Naked reviews and updates premiums to ensure that we’re charging the correct amount based on your coverage. As claims costs tend to increase over time, we also review and adjust the excess to keep your share of claims costs aligned with what you originally selected. Without these periodic excess adjustments, your contribution per claim would gradually decrease, shifting a larger portion to Naked and leading to more significant premium increases. We’re here to help if you’d like further clarification or assistance in exploring policy options that best suit your needs.
Naked Insurance's reply29 Oct 2024, 13:04
Official
Hi Nikki,
Thank you for sharing your concerns. We understand your frustration with the recent premium and excess adjustments. Periodically—typically annually—Naked reviews and updates premiums to ensure that we’re charging the correct amount based on your coverage. As claims costs tend to increase over time, we also review and adjust the excess to keep your share of claims costs aligned with what you originally selected. Without these periodic excess adjustments, your contribution per claim would gradually decrease, shifting a larger portion to Naked and leading to more significant premium increases. We’re here to help if you’d like further clarification or assistance in exploring policy options that best suit your needs.
Thank you for sharing your concerns. We understand your frustration with the recent premium and excess adjustments. Periodically—typically annually—Naked reviews and updates premiums to ensure that we’re charging the correct amount based on your coverage. As claims costs tend to increase over time, we also review and adjust the excess to keep your share of claims costs aligned with what you originally selected. Without these periodic excess adjustments, your contribution per claim would gradually decrease, shifting a larger portion to Naked and leading to more significant premium increases. We’re here to help if you’d like further clarification or assistance in exploring policy options that best suit your needs.