insurance premium increase

<p>absolutely Ludacris that premiums can increase on a car that depreciates every single year, without any prior notification from outsurance at all.</p> <p>Since the insurance company bases payouts on values derived from the Mead and McGrouther/Transunion Data Digest, it seems a little disingenuous that the broker/underwriter/insurer should hike premiums based on a value that keeps depreciating. The insurer determines the payout in the event of loss, so patently has access to the current values of the car. Why are these premiums then adjusted annually by the insurer?</p> <p>what can baffle any ones brains is that the car is 10 years old and paying over R1000 now for it, another 10 years down the line the car will be 20 years old and outsurance will be charging R2000 for it???</p> <p>Fair and ethical ? I think not.</p> <p> </p> <p> </p>