Amazing premium increase from Outsurance

<p>I received an email from @OUTsurance last night in the form an annual policy update, a letter which updates clients of new products and services offered by them as well as an update of your personal policy with them.</p> <p> </p> <p>I was completely staggered when I received mine. Mine was called a rerate schedule as I read through the document I learned that as of 27/04/2017 they have/will be increasing my premium from R1 254.28 to R1 875.74 that's an increase of around 48% as well as increasing my excess from R4 010.00 to R4 500.00 that's an increase of around 12% #***</p> <p> </p> <p>What makes this more laughable is this increase is on a 2015 VW Move Up! The premium on the insurance is now only R300 less than my actual car repayment