Outsurance 20% increase in monthly premium!!!
Hi,
I want to start of to say how big fan, I have always been of Outsurance, to support the statement, I have been a loyal client for 15 years, have my business insurance with them as well and have referred, most of my family and friends to them as well.
However to great dismay, I got a letter a month ago stating that my monthly premium will go up by not 5% or 10%, but an incredible 19.85%.
I could not believe my eyes, especially in the current financial conditions we find ourselves in. It must be a mistake I thought...
Subsequently, I phoned them to find out. Their feedback, my risk profile have been re"assessed" and due to risk they had to escalate my premium accordingly!
So, did I have car accidents, burglaries because I live in an unsafe area in the past year? No!! My Gopro's pc board blew up, due to load shedding and my wife's car got a crack from a stone thrown up by a passing vehicle..... So I ask you is that not normal risk? Or do we get a premium based on never claiming?
I was advised that the only way the can assist is by inflating my "excess fee's"! How is that help.
I am really dismayed by their action and feedback.......
Here is my letter to them after initial contact:
Writing this email for me, I find it really unpleasant due to my positive experience from Outsurance in the past, as well as, the amount of people I have referred.
I have been an Outsurance client for approximately 15 years and experience for the first time that they are acting unreasonably.
Adjusting my premium with approximately 20%, in the current financial times, I feel, firstly shows no compassion, but secondly totally unreasonable.
After I had spoken initially to Rume Pillay, who could offer no assistance and subsequently was phoned by her manager and promised to phone the next day again, with a solution, which never materialized.
I feel really, "done in" and are not happy at all with the situation and will be forced to look at alternatives, if we can not remedy the situation.
Thank you for your feedback.
Our client care manager, Mapula was in contact with you when you brought the matter to our attention. She discussed the rerate increase in detail with you at the time. She also discussed options available to have your premium reduced, but you requested her to keep he cover as it was.
Mapula was notified of your complaint lodged on this forum and has been trying to make successful contact with you again at the times you recommended she called you.
She will follow up again on Thursday, as agreed in her discussion with you today.
Regards
OUTsurance
Thank you for your feedback.
Our client care manager, Mapula was in contact with you when you brought the matter to our attention. She discussed the rerate increase in detail with you at the time. She also discussed options available to have your premium reduced, but you requested her to keep he cover as it was.
Mapula was notified of your complaint lodged on this forum and has been trying to make successful contact with you again at the times you recommended she called you.
She will follow up again on Thursday, as agreed in her discussion with you today.
Regards
OUTsurance
Correct, myself and Mapula, have had extensive conversations. She is a lovely lady.
However, the further I progressed with her, the more I came to realize, that firstly she has no authority to make a call/change, except for what the systems parameters allow. Which in this case, are only to increase my "excess fee" or remove some of the features/products as insured by yourselves.
No consideration for external factors, changes of insured identities or risk profile as per individual, all based soully on a "loss ratio" per contract/profile . As correctly stated in 2017 my ex wife had a big accident and the amount paid out was "x 40" of my 2020 claims, however the premium did not even escalate with this much.....
And to finalize the discussion now, this is my disappointment. I am already paying a premium on some of the products I have with you... SUV of the value of approximately R160 000 - + R900.00 per month pre-increase..... almost 10% per year of its value?! Which I was fine with because of our relationship and good service in the past. But having a increase of 20% over my portfolio in one year, I still fail to see the fairness or logic within that...
I really did my best in terms of time, to resolve this in an amicable way, but am duly disappointed.....
Regards,
Christian
Correct, myself and Mapula, have had extensive conversations. She is a lovely lady.
However, the further I progressed with her, the more I came to realize, that firstly she has no authority to make a call/change, except for what the systems parameters allow. Which in this case, are only to increase my "excess fee" or remove some of the features/products as insured by yourselves.
No consideration for external factors, changes of insured identities or risk profile as per individual, all based soully on a "loss ratio" per contract/profile . As correctly stated in 2017 my ex wife had a big accident and the amount paid out was "x 40" of my 2020 claims, however the premium did not even escalate with this much.....
And to finalize the discussion now, this is my disappointment. I am already paying a premium on some of the products I have with you... SUV of the value of approximately R160 000 - + R900.00 per month pre-increase..... almost 10% per year of its value?! Which I was fine with because of our relationship and good service in the past. But having a increase of 20% over my portfolio in one year, I still fail to see the fairness or logic within that...
I really did my best in terms of time, to resolve this in an amicable way, but am duly disappointed.....
Regards,
Christian