Any idea why car insurance has increased so much? Last year my car (Toyota Aurion 2008) was insured for $7900 and I paid $525 at AAMI for comprehensive cover ($550 excess). I got a renewal letter saying it's now $679, but they have increased insured value to $8700.
However, if I pretend to be a new customer and dial the agreed value back to $7900, this year's premium is still $634 - $110 more than last year. I have not had any accidents, fraud, jail time etc.
At RAC, for $7900 cover and $550 excess it is $640. Now it's not that this is unaffordable, but why on earth am I paying 21% more for the same insurance compared to last year? Is anyone else finding the same?