Since April I have been complaining about the unfairness of my Policy Premium increases. I have had 3 increases in one year (July, August and April) and for no/or total unfair reason. Since when are premiums increasing more than once a year; I have asked from others and they don't have the same increases. The book value of my vehicles are not considered when adjusting my premiums... I have an old Toyota whose premiums has sky rocketed in stead of coming down based on its book value as is normal practice.
I bought a new vehicle and added it to my schedule in Sept/Nov 2012 and 6 months later, my premium increased by more than 11%, for no reason at all.
My broker has been flat out ignoring my complaints and hasn't once responded to any of my emails. I have twice logged complaints on their WebSite and even called and was given an email address to which to send my complaints, but still no response.
This is not proper Business Practice and is not in line with the objectives of the FAIS Act as well as General Code of Conduct for Financial Services Providers. This increase benefits Alexander Forbes only because now I have to pay an increased premium way before my Anniversary Date.
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