What is most likely to make you cancel your insurance policy?

What is most likely to make you cancel your insurance policy?

  • Affordability

    Votes: 32 31.1%
  • No response received - emails and calls not answered

    Votes: 25 24.3%
  • Changes in pricing

    Votes: 27 26.2%
  • Comparing brands to brands

    Votes: 12 11.7%
  • Slow turnaround time

    Votes: 5 4.9%
  • Referral - dissuasion by others

    Votes: 2 1.9%

  • Total voters
    103

MartinGB

MyBroadband Staff
Staff member
Joined
Jan 31, 2020
Messages
50
What is most likely to make you cancel your insurance policy?
 

eg2505

Honorary Master
Joined
Mar 12, 2008
Messages
26,015
Other. Not paying out when I claim. The most important part of an insurance. The rest I leave up to the broker.
this,
when I claim it gets paid out, thats where the rubber meets the road.
all the sales and promises, eventually do materialize when you MOST need it,

not stories and questions and subterfuge where they pose as somebody else to get you to change your story.
and can reject your claim.
 

Moto Guzzi

Expert Member
Joined
Apr 24, 2004
Messages
1,702
What is most likely to make you cancel your insurance policy?

1-If I am not a "claimer" type of individual and they dont give me discount every year.
2-If I never made an accident and they dont recognise this and show it in the premiums.
3-If their Call Centre is disfunction, numb in operation, making me run around in circles.
4-If I cannot talk to a specialist that knows the system quickly.
5-Over time I am a profit to them, and I want to see them recognise that for the day I really need them and the group thing kicks in as well, so its not my money only, same with others.
6-If other individuals are "claimers" they should sort that out, and it should not effect me at all. They have "Modern Digital Systems" that can clearly show that "DATA(Everybody loves data)" as it evolves.
7-If I smell High Level Corruption from the Board & CEO.

So far the Insurance company I joined proved to me they got the only functional CAll Centre in the country that never failed me, quik reaction, quik settlement when I do have a claim.

Note:The problem is if you not a claimer over many years, and they start defrauding you by having a nion functional Call Centre and difficult to communicate with them, the problem is if you now jump ship, they have pocketed your money for sure and its gone in the wind.

Affordability:
This is relative but over many years if it becomes an issue out of nowhere, you just know the Board is corrupt, so affordability becomes a Symptom of many other things cooking in the books.
 
Last edited:

rietrot

Honorary Master
Joined
Aug 26, 2016
Messages
26,800
Considering canceling mine now.

Because of a useless add on towing service. Which seemed like a great service at time of taking the policy.
But they only pay to tow to the nearest dealership or simulator. Not my destination of choice.

Had a breakdown 100 km from my house. Nearest dealership was 20 km so I had to pay the towing service. Completely useless to have it.
 

Paul Kemp

Expert Member
Joined
Jan 4, 2021
Messages
1,051
Other:
1. Sending your car to their approved repairer who does shoddy work. Insisting that you keep sending it back to the same repairer to fix their work for months on end. In short - the approved repairer system is a farce. The repairer pays to be on that list and it has nothing to do with quality of workmanship or periodic reassessment.
2. Continual price increases for aging cars. Their reasoning is that it is because the vehicle is covered for replacement value. I don’t believe they will pay out for a new replacement.
 

wingnut771

Honorary Master
Joined
Feb 15, 2011
Messages
15,061
Considering canceling mine now.

Because of a useless add on towing service. Which seemed like a great service at time of taking the policy.
But they only pay to tow to the nearest dealership or simulator. Not my destination of choice.

Had a breakdown 100 km from my house. Nearest dealership was 20 km so I had to pay the towing service. Completely useless to have it.
This is why I subscribe to the AA, a flatbed truck towing service on standby, flat battery, locked keys, run out of fuel, whatever. Nice peace of mind. R220 per month.
 

rietrot

Honorary Master
Joined
Aug 26, 2016
Messages
26,800
This is why I subscribe to the AA, a flatbed truck towing service on standby, flat battery, locked keys, run out of fuel, whatever. Nice peace of mind. R220 per month.
Considering the tow was just R1000, R200 p month is expensive.

My issue is they advertised it as a free service and then they had the ridiculous restriction.
 

Paul Kemp

Expert Member
Joined
Jan 4, 2021
Messages
1,051
Considering the tow was just R1000, R200 p month is expensive.

My issue is they advertised it as a free service and then they had the ridiculous restriction.

The downside of not having insurance for towing is that you’ll struggle to get a towing company out when you are stuck in the middle of nowhere.
 

NarrowBandFtw

Honorary Master
Joined
Feb 1, 2008
Messages
21,954
cancelled mine just this week:
- annual premium increases for no added benefit despite me almost never claiming anything
- useless broker, whenever anything needed doing I had to deal with the insurance company directly anyway
- stuck in the stone age: sending me forms to print, sign and return annually

so now we'll see how the new guys perform, almost half the premium of the old
 

wingnut771

Honorary Master
Joined
Feb 15, 2011
Messages
15,061
cancelled mine just this week:
- annual premium increases for no added benefit despite me almost never claiming anything
- useless broker, whenever anything needed doing I had to deal with the insurance company directly anyway
- stuck in the stone age: sending me forms to print, sign and return annually

so now we'll see how the new guys perform, almost half the premium of the old
check out https://www.naked.insure/

no brokers, all electronic, best part, you get a price immediately. Thinking about signing up.
 

Arthur

Honorary Master
Joined
Aug 7, 2003
Messages
25,995
Missing in the poll options is one rational reason to cancel insurance: No longer required.

Since insurance is really a way of indemnifying against unforseen or calamitous loss - at some point the NPV to the owner might be less than the accumulated premiums over the projected timeframe.
 

Mogo

Well-Known Member
Joined
Apr 2, 2012
Messages
284
This is why I subscribe to the AA, a flatbed truck towing service on standby, flat battery, locked keys, run out of fuel, whatever. Nice peace of mind. R220 per month.

So glad I left this ripoff of a service.

I signed up with Mccarthy towing which offers the same as above, including towing for up to 4 vehicles and household assistance (plumbing, electrician etc). I've claimed for a few tows already without hassles.

All for R77.
 

RedViking

Nord of the South
Joined
Feb 23, 2012
Messages
41,977
this.

only needs to happen once
Must say. My Broker + Santam have been awesome over the years. They have never queried my claims and they have always allowed for me to choose where I want to take my vehicle for repairs and pay out immediately. Same when I wrote of my phone.

I guess it is when your house burns down you only know how helpful they are.
 
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