IWYZE
Ridiculous Increased Premium

Hi there
Yesterday, I got a letter from iWyze for my annual increase, and they have increased my car insurance with a 100 % from R977 pm to R1950 pm. I have phoned them and they told me that the reason for the increase is, to fix my car (if I claim) will cost much more than last year, so they increased my car insurance with almost R1000 per month. I didn't have any insurance claims in the last year. They have also told me that I'm on a 43% discount which translates to a premium without discount at R2 788.50. This is for a car that will cost to replace R250 000. Am I the only person that got such a high increase. Is this maybe related to my no claim bonus that is paying out next year? According to them to replace my car which is a BMW 320d manual 2010 model with no extras will cost R280 000.

Company: IWYZE
Country: South Africa
City: Gauteng

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