There are many different factors that make up insurance premiums, some of which may or may not be within our control.
Things that may affect your premiums are:
- Claims throughout the previous insurance period
- Government levies increasing at the Governments discretion
- Location
- Increase in sum insureds
- Increase repair and replacement costs for vehicles, buildings and contents
- Reinsurance costs due to global catastrophe events
- National Catastrophe events like Bushfires that may affect the pricing of Fire insurance
Premium increases are always considered with a great deal of thought and are never an easy decision to make. If you have any concerns about your premiums please feel free to contact our friendly team.
