1 reviews | Active since Sept 2009
Two weeks later, still no evidence given for premium increase
<p>I submitted a query on the 25th August to query why my premium escalated by more than 20 percent. Auto & General has increased my premium with more than inflation every year despite many parts actually becoming cheaper. I would like an evidence-based, individualised answer as to why my personalised premiums are increasing this much every year.</p>
We acknowledge receipt of your query regarding the increase in your premiums and can advise as follow
As you are aware your policy is reviewed on an annual basis. As we have seen in recent years insurance premiums, as everything else, is unfortunately also on the rise.
When a policy is reviewed there are a wide range of factors that will be considered in order to determine your new premium. The most common factors range from the current global and local economic conditions to the performance of our currency against global currencies. These factors will have a profound effect on the replacement and repairs of motor vehicles and household goods as a number of these items and components are imported.
We understand your dissatisfaction and we will request one of our underwriting consultants to contact you to see if we can assist you with a discounted premium.
Kind Regards
The Telesure Team
We acknowledge receipt of your query regarding the increase in your premiums and can advise as follow
As you are aware your policy is reviewed on an annual basis. As we have seen in recent years insurance premiums, as everything else, is unfortunately also on the rise.
When a policy is reviewed there are a wide range of factors that will be considered in order to determine your new premium. The most common factors range from the current global and local economic conditions to the performance of our currency against global currencies. These factors will have a profound effect on the replacement and repairs of motor vehicles and household goods as a number of these items and components are imported.
We understand your dissatisfaction and we will request one of our underwriting consultants to contact you to see if we can assist you with a discounted premium.
Kind Regards
The Telesure Team
Thank you for the generic response which I received in the annual adjustment letter already.
I would like to see evidence of MY vehicles' parts increasing in nominal rand terms as well as repair costs increasing in nominal rand terms by such a large percentage over the past year. I do not want a thumbsuck increase derived from a generic formula which does not take into account individualised car part price increases. Older cars sometimes benefit from reduced parts prices in rand terms (VW's economy parts is an example ).
Thank you for the generic response which I received in the annual adjustment letter already.
I would like to see evidence of MY vehicles' parts increasing in nominal rand terms as well as repair costs increasing in nominal rand terms by such a large percentage over the past year. I do not want a thumbsuck increase derived from a generic formula which does not take into account individualised car part price increases. Older cars sometimes benefit from reduced parts prices in rand terms (VW's economy parts is an example ).
Dear Mr Moses
We are not at liberty to discuss the specific science involved in determining the risk factors.
We would hate to lose you as a client; however; you are more than welcome to search for same within the industry and if any insurer is willing to comply with your request and it provides you with the necessary peace of mind; then we would encourage you proceed on those basis.
Trust you will find the above in order.
Kind Regards
The Telesure Team
Dear Mr Moses
We are not at liberty to discuss the specific science involved in determining the risk factors.
We would hate to lose you as a client; however; you are more than welcome to search for same within the industry and if any insurer is willing to comply with your request and it provides you with the necessary peace of mind; then we would encourage you proceed on those basis.
Trust you will find the above in order.
Kind Regards
The Telesure Team