OUT slapped me with 28% increase

Updated Complaint

After being a damn loyal customer for almost 2 decades I am so disappointed with Outsurance. A company that always stood out for me, now just seems to fits into the pack.

So every year they rerate my profile. And that makes sense to me, and each year the increases made sense too. The usual factors apply, like taking inflation into account (impact on parts, partners, etc), my claims through the year and changes to my personal profile. 8% to 12% increase has been the range over the years.

BUT, this year, I got hit with a 37% increase. In what world does that make sense! When I queried it I was told “this is the best we can do right now”. No clear reasoning was shared with me, other than inflation, I had 5 claims in a single year(they even count a windscreen repair instead of replace as a claim claim), partners and parts are more expensive etc. I totally get that, but 37%! This feels like punishment for using the services that I have actually being diligently paying for. Ain’t that why we take out insurance, “to help us through those rough unforeseen moments”. With a 37% increase in premium, feels more like rough times monthly from now on courtesy from the provider I chose to help against that. After an escalation that 37% dropped to 28%. While appreciated, this is still too high. My economic value to OUT in 2023 and YTD as a client is still positive. To be clear: I expected an increase over inflation, say 15% even, but not this slap that OUT has given me.

When I asked for more clarity around why 27%, I was informed that that is the best they can do, and that it is due to my claims in 2023. And sharing more than that is not possible due to IP. And this was supported by the leadership team.

This type of treatment by an insurer that I have grown to trust over the years is sooooo disappointing. I actually feel hurt. But who cares how I feel.

If I read between the lines, Outsurance’s message to me is loud and clear. Lesson to self: don’t believe in heroes.