Sky High Premiums

Today I did some minor updates to my Outsurance policy, (address, home/work locations etc.) I also got a quote from King Price out of curiosity.

My premium for 2 vehicles with Outsurance was R4200 p/m before the updates and was told my premium would change to more than R7k p/m. They immediately gave me a revised quote of R5.4k p/m when I told them I requested a quote from King Price.

This is extremely excessive. The quote from King Price was R3180 p/m and goes down with each claim-free month. Even if Outsurance offers better and more comprehensive cover (which they don't) it is not worth an extra R2.2k p/m. They also dangle the Outbonus carrot in your face as if it justifies the additional premium.

I cancelled my Outsurance policy immediately and joined King Price on the spot.

Long gone are the days when Outsurance was the cheapest.

I also believe it isn't very ethical of Outsurance to quote their customers' excessive rates and bring down their rates only if they have competing quotes.

Yes, I'm losing out on my Outbonus that would have paid out in September but I would rather take the long-term gain and company that is upfront with me from the get-go on my rates.

Good riddance Outsurance.

If you're an existing Outsurance client, please do yourself a favour and procure some quotes elsewhere. You might be shocked at the difference.