Insane car insurance increase!!!!

I have a car insurance policy with Standard Bank since 2023 for a Kia Ria 2020 model. My policy has gone up due to "market related reason". My premium was R880 in 2024 and has now gone up to R1100. I fail to understand why when the car has depreciated. -I'm so disappointed in Standard Bank, I have so much with this bank -It's my primary bank -I have a home loan with them -Life cover and car insurance. I'm definitely switching banks!!!