We’re continually checking our pricing against factors like the number and types of claims we receive, and changes to the cost of running our business, so that we can ensure we can be there for our customers at claims time. This means that each year your premium can change, even if your personal circumstances haven’t.
Recently, inflation and increasing reinsurance costs have impacted premiums across the insurance industry. We’ve seen a significant increase in the recorded number of claims over the past year due to rising thefts and weather events, such as Cyclone Gabrielle.
Due to pressure on supply chains, the cost to repair and replace vehicles has also risen considerably, impacting the time and cost to resolve our car claims.
The above factors mean that most of our customers will see a premium increase on their policies at their next renewal. We want to assure you that we’re here to help provide information about your policy options so that your cover is suitable for your insurance and budget needs.
If you’d prefer to discuss your policy in more detail, please get in touch and our team will be happy to help.