Comprehensive Car Insurance Renewal Costs
I have a problem than I'm trying to digest.
All things unchanged, my policy renewal is 7.5% more than last year. (A 7yo Hyundai, nothing special in Parramatta, NSW)
From Jan 2019 to the most recent renewal quote I have:
Market Value insured. (another year of depreciation)
No claims, no existing alterations.
Added 2 new policies (Wife's Car + CTP)
Govt charges remain the same, premium + GST make up the bulk of the renewal increase.
Can anyone shed some light on how they may understand this increase? The web chat told me they reevaluate on risk of the area.
To me this suggests, my car's diminished value, loyalty, additional policies are completely offset by whatever this increase is (and then an additional 7.5% on top of that.