Car insurance

SaiyanZ

SaiyanZ

Executive Member
Joined
Jun 5, 2008
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Location
Johannesburg
Is car insurance supposed to increase much year on year? I just got debited quite a bit more this month. Been paying R767pm for the last year but this month I was debited R874. That is a 14% increase. Car is a 2005 350z insured with Dial Direct.

Just went to Hippo to check for comparitive quotes and got R658pm for the same details that my car is insured under. Sent a query to Dial Direct and told them to rectify or let me know why the large increase. My car is a year older than when I first insured for R767pm so I would think the depreciation would be larger than inflation and my premium should decrease, not increase by 14%.
 
Nope, your premium will go up..... its the way it works..

If you don't like it, go to another insurer... also try a broker, you'll get a better rate.
 
And they won't decrease it to the depreciated value unless you specifically request it. Make it a habit to do it every year or 6-8 months.
 
Insurance are scum, they always try to increase your premium, for those who don't fight it they lose out.
Just call them and say you want it back down and 90% of the time they will do it right there, then ask for an adjustment on the value of the car.
Pretty much standard practice stuff in that silly industry. Thats not a bad rate for a 350z, i used to pay more for mine.
 
Same thing just happenned to me - got an email from Outsurance to let us know that my car's insurance premium had gone up.
I just about flipped my lid. The value of the vehicle goes down every year and we make a habit of getting the vehicle re-valued and the premium adjusted down to reflect this. And now they pushed me back up a fair amount. I asked why - their answer was inflation, and that repairs to vehicles also cost more now, so if the car does have to be repaired it will cost them more, so it's higher risk, blahdiblahdiblahblahBS.

I'm going to get the car moved to new insurance ASAP. Tired of this nonsense.
 
The problem with moving to another insurer is that I will lose out on my Bucks Back Bonus. (If I dont claim) This will be over R9000 in 3 years time. So even if I get my old rate with another insurer it still makes sense to stick with Dial Direct since I've been with them for a year. If I move to another insurer the price would have to be over R250 cheaper for it to be worth it. i.e. R620. Assuming I don't claim in the next 3 years.
 
I had the same with Outsurance (premium went up from R1800-odd by approx. 18% to a tad over R2100 for house/car/building) - I obtained another quote from MyWay and Virgin which worked out to about R1400-odd (including the annual increase), then went back to O/S and demanded a review, based on my years with them, bladie-blah - they reduced it to just over R1400 :-)

Just shows that they can do it if they want - you just have to push them...
 
SaiyanZ said:
The problem with moving to another insurer is that I will lose out on my Bucks Back Bonus. (If I dont claim) This will be over R9000 in 3 years time. So even if I get my old rate with another insurer it still makes sense to stick with Dial Direct since I've been with them for a year. If I move to another insurer the price would have to be over R250 cheaper for it to be worth it. i.e. R620. Assuming I don't claim in the next 3 years.
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Dial Direct are @rseholes!
I also used your argument about the bonus 4 years ago, but EACH, and I mean EACH fvcking year they increased my premiums for car, house and contents by 17%
I will now get my bonus, about R14k, in September and then they can go and screw themselves.
I have a claim free record of 20 years and these farkers treat me like that - farkem! FOREVER!
Will do my rounds through Hippo and preferably get a company that DOES NOT PAY A BONUS - they know they've got you by the nuts if a bonus is involved and OBVIOUSLY it's priced in.
I like the looks of Virgin insurance, where they keep your premiums fixed for 2 years - if they increase them substantially after 2 years, I'll be outa there then... no bonus to hang around for...
But Dial Direct will not see me EVER again and you better butter up your bum if you intend sticking with them, you'll need it!
 
And if your insurer gives you no claim bonuses etc it means you were paying too much to begin with :p
 
Bundu said:
dumb question, but where does one find a broker?
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My broker is Securitas (Telno. 012 - 990 5000), been with them for a number of years even though I do get comparative quotes from time to time.
 
PM the broker's details as well. I've decided to switch insurers if they don't drop the premium. I'm sure I'll be able to get a better rate elsewhere. Not going to hang around waiting for a no claims bonus as they will probably increase the premiums every year since they know I'm locked in. Best to jump ship now.
 
SaiyanZ said:
PM the broker's details as well. I've decided to switch insurers if they don't drop the premium. I'm sure I'll be able to get a better rate elsewhere. Not going to hang around waiting for a no claims bonus as they will probably increase the premiums every year since they know I'm locked in. Best to jump ship now.
Click to expand...

good move! stuff this bonus cr@p, I'd rather have low premiums and the ability to move if they abuse me.

Thanks for contact Mier!

D3x! could you also PM me your broker's details Please?
 
I remember when buying a RunX RSI a few years back, direct (Outsurance, Dial Direct etc) was generally 1200-1600pm.

I've now got a Volvo T5 and through a broker, its about R800.00

The company is Zurich Insuramce (old SA Eagle)
 
Ok, so I just got a call from Dial Direct. Went through the details but my premiums not going to be reduced. The 14% premium rise is apparently due to increases in repair costs (according to figures they receive from Nissan) and an increase in risk associated with the car.

I asked about cancellation fees. There is none. However, I did forget to ask about cancellation notice and whether there is any refund applicable since insurance is paid in advance. Anyone here cancelled a policy with Dial Direct? How much notice should I give them so that they don't debit me next month as well? Don't really want to call them again. I will just insure with someone else from the end of next month so that there won't have to be any refunds.
 
SaiyanZ said:
Ok, so I just got a call from Dial Direct. Went through the details but my premiums not going to be reduced. The 14% premium rise is apparently due to increases in repair costs (according to figures they receive from Nissan) and an increase in risk associated with the car.

I asked about cancellation fees. There is none. However, I did forget to ask about cancellation notice and whether there is any refund applicable since insurance is paid in advance. Anyone here cancelled a policy with Dial Direct? How much notice should I give them so that they don't debit me next month as well? Don't really want to call them again. I will just insure with someone else from the end of next month so that there won't have to be any refunds.
Click to expand...

Expected that, farkers don't negotiate once they have you hooked!
I would call them again and request cancellation on last day of month and ensure new insurance is active on 1 st day of next month
 
SaiyanZ said:
Ok, so I just got a call from Dial Direct. Went through the details but my premiums not going to be reduced. The 14% premium rise is apparently due to increases in repair costs (according to figures they receive from Nissan) and an increase in risk associated with the car.

I asked about cancellation fees. There is none. However, I did forget to ask about cancellation notice and whether there is any refund applicable since insurance is paid in advance. Anyone here cancelled a policy with Dial Direct? How much notice should I give them so that they don't debit me next month as well? Don't really want to call them again. I will just insure with someone else from the end of next month so that there won't have to be any refunds.
Click to expand...

Bundu said:
Expected that, farkers don't negotiate once they have you hooked!
I would call them again and request cancellation on last day of month and ensure new insurance is active on 1 st day of next month
Click to expand...

you pay in advance so let them know a month in advance or you will definitely be billed again.
 
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