Insurance - Premium Increases late 2018 - Is it common ?

[mal1958]

Hi,
   I have been a long time customer (over 18 years) of CIL insurance for both for our Tvan and the prior camper trailer.

   I received my renewal recently and was surprised to find the premium had gone up 16%.     

   We have had no claims, the agreed value was decreased by CIL, by the normal 5% that they use.

   
  On contacting CIL they advised, that the premium increase is due to the large number claims bought about by weather events (I am assuming hail).

  Apparently there was not much they could do to reduce the premium except either increase the excess or reduce the agreed value.

   Now I am not asking for an opinion of CIL, but I am asking whether other members have found similar levels of premium increase in the recent months with other insurance companies ?

Cheers,
Mal

   

   

[MarkA]

Just got the same advice from our company.  Car value down but insurance cost is up. They also quote increases in claims as the primary cause (perhaps the fires in LA have something to do with it)

[Wildmax]

Yep, I had a huge increase in September with my insurance with Club 4x4.
Van went up around 10% from memory but tow vehicle was around 60%. Got the same story about heavy claims demand despite fact I've never had a claim, but I couldn't do much better when I started shopping around - plus some places won't insure both car and camper, and others won't cover all the after market stuff I have on the ute, and the remote coverage is good.
So I took a deep breath and stayed with Club 4x4.

[Danno47]

All insurances went up across the board in 2018, even my life insurance shot through the roof.

[doctorflat]

CIL must be on a roll.  Our latest renewal notice was just under a 20% increase on an agreed value policy. No claims at all. Price gouging it would appear. Must check the agreed value as I think it dropped as well. Now shopping around.

Peter


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