Earlier this month I received a notice on my iWYZE policy that there will be an annual increase. What I did not expect was my monthly installment to increase from R450 to R780.. That is more than 70%.. Inflation is only about 6%, how do they expect consumers to keep up with all the price hikes.
When I asked a senior consultant if this is a mistake or a joke he was arrogant enough to ask me if I watch the news. Asking me if I know about all the strikes in the motor industry which will have an influence on my policy. Ive been paying every installment for the past 3 years and had no claims so I would consider myself a good customer from who they managed to make about R15000. I was so shocked at how little they cared about keeping me as a customer and the consultants comments I asked to cancel my policy with them. That in return wavered my no claims bonus, another score for iWYZE.
The following day I spoke to the floor manager and he managed to ensure me there is no mistake with the 70% increase and they need to think about the strikes once again and the repair costs and parts that increased in the motor industry.
This is surely something the consumer act would not agree with.