My car comprehensive insurance is with Aviva.
For no apparent reason the renewal premium has shot up from €388.10 to €645.55 a whopping 66% increase.
I rang Aviva and was offered via emails (same day)
1st email a renewal at €643.78
2nd email a renewal at €613.26
3rd email a renewal at €607.90
Subsequently I lodged a formal complaint and yesterday received a letter with a load of waffle telling me;
The calculation of a premium by the underwriters is the result of a complex interaction between many different rating factors to provide you with your gross premium. Some of these factors include the policyholder, and any named drivers, age and driving experience, penalty points, licence type i.e. full or permit, the type of insurance cover needed, payment type, address where the car is kept, the make, model and age of the vehicle, engine size, fuel type and many more. These factors are reviewed and updated regularly based on the Underwriters review of their books, which can result in premiums increasing and decreasing for certain risk segments. Therefore, the gross premium you are offered each year can vary significantly. Every insurance company will have different rates based on their underwriting and claims experience, and they may also have different methods of discounting their policies, therefore you may get vast differences in quotations across the insurance market. Every policy is rated individually based on the specific details of that policy and this means that even within the same insurance company every policy may have a different premium.
Would I be wasting my time lodging a formal complaint to the Ombudsman?
I have since been able to get a quote on similar terms for €447.67
I have currently 2 cars (wife), house & health insurance with Aviva- probably not for much longer!
PS. I have been a car owner for over 40 years with no claims.
For no apparent reason the renewal premium has shot up from €388.10 to €645.55 a whopping 66% increase.
I rang Aviva and was offered via emails (same day)
1st email a renewal at €643.78
2nd email a renewal at €613.26
3rd email a renewal at €607.90
Subsequently I lodged a formal complaint and yesterday received a letter with a load of waffle telling me;
The calculation of a premium by the underwriters is the result of a complex interaction between many different rating factors to provide you with your gross premium. Some of these factors include the policyholder, and any named drivers, age and driving experience, penalty points, licence type i.e. full or permit, the type of insurance cover needed, payment type, address where the car is kept, the make, model and age of the vehicle, engine size, fuel type and many more. These factors are reviewed and updated regularly based on the Underwriters review of their books, which can result in premiums increasing and decreasing for certain risk segments. Therefore, the gross premium you are offered each year can vary significantly. Every insurance company will have different rates based on their underwriting and claims experience, and they may also have different methods of discounting their policies, therefore you may get vast differences in quotations across the insurance market. Every policy is rated individually based on the specific details of that policy and this means that even within the same insurance company every policy may have a different premium.
Would I be wasting my time lodging a formal complaint to the Ombudsman?
I have since been able to get a quote on similar terms for €447.67
I have currently 2 cars (wife), house & health insurance with Aviva- probably not for much longer!
PS. I have been a car owner for over 40 years with no claims.