Short Term Insurance Help or Tips

marco79

marco79

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Back in CPT!
Goodday all, I need some tips to reduce my short term insurance premiums.

I am insuring 2 vehicles and household content.
My insurance premium went up by 15% in January. This is annual inflation.

We moved from a complex to a free standing house in the suburbs. Increase by R300.

And I added Portable Possession laptop cover for R10k. Add another R220.

In the past I would just call another insurer for a better quote, then at least my premiums are cheaper and locked for a year. I have even with my previous insurer received cheaper quotes for a new policy with exactly the same cover. Something to do with incentive discounts for new policies.

My insurance policy is now just over 50% more than last month.
 
marco79 said:
Goodday all, I need some tips to reduce my short term insurance premiums.

I am insuring 2 vehicles and household content.
My insurance premium went up by 15% in January. This is annual inflation.

We moved from a complex to a free standing house in the suburbs. Increase by R300.

And I added Portable Possession laptop cover for R10k. Add another R220.

In the past I would just call another insurer for a better quote, then at least my premiums are cheaper and locked for a year. I have even with my previous insurer received cheaper quotes for a new policy with exactly the same cover. Something to do with incentive discounts for new policies.

My insurance policy is now just over 50% more than last month.
Click to expand...
If you qualify for PPS try them great service and great rates moved everything of mine to them

All you can really do is get new quotes and get them to match or move not much else.
 
Try the Cntl app can add all the items, otherwise King Price gave me a pretty good deal
 
Why did it go up when you bought a free-hold house? (Free standing is as it says, it's a unit not attached to another unit, could be in a sectional title or free-hold.
 
You install take take ctrl app and compare prices.
The brolink option is normally the cheapest from them.
 
The short answer is just to shop around using a broker and/or comparison app etc

Unfortunately most short term insurers have been increasing premiums (higher than inflation) across all lines of business (property, motor, liability etc) for the past year or so across all market segments (personal lines, small and large commercial). This is unfortunate, but claims activity (which is normally higher in times of economic stress) has exceeded insurers expectations over the past few years.

Lupus said:
Why did it go up when you bought a free-hold house?
Click to expand...
Freehold houses generally have a higher loading in terms of the contents component of cover, also the OP might now be paying for insurances which were previously covered by the Body Corporate's policy.
 
And this post is a good example why the likes of discovery, miway, momentum and withoutinsurance love dealing direct.
Just by the premium on the laptop you are being raped by the unethical company unless you have a story to tell about numerous claims etc.
 
You didn’t mention the insurer OP. I’m betting it’s a “direct” insurer isn’t it?

Have you had major claims in the last few years? Otherwise you are simply being ripped off on all fronts.

I see you are in Cape Town, I can highly recommend Stepp as a broker. PM me and I’ll even give you an email address so you don’t need to pick up the phone.
 
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