Strange TuffStuff increase - What are they up to????

[ZS5EFP]

For the past couple of years my car's value decreased as it got older. This resulted in a decrease in CAR insurance premium. However building and household contents increased but all in all the premium with the anual increase actually decreased the past 5 or so years.

Also had one vehicle related claim.

[grobbepj]

Now that you mention it, I have to totally rearrange my budget to be able to cater for the R46.54 increase I got slapped with.

+1

[hunter26]

We didn't get the email se we got no increase

Nor could they identify your caves address

[Disco-Deon]

My medical aid increased by more in the last 3 years than my total vehicle premium.

My Med Aid % increase yearly is more than my TS increase over 3 years.
I feel screwed - not by TS though...

[MariusFourie]

My Med Aid % increase yearly is more than my TS increase over 3 years.

I feel screwed - not by TS though...

My total premium for the touareg is less than what my medical aid went up with in the last 3 years.

Between tax and medical aid 35% of my wages are gone.

[Disco-Deon]

My total premium for the touareg is less than what my medical aid went up with in the last 3 years. (

I just went back and checked figures.
My Med Aid increase over the last 2 years is more than my Discos premium.
My Med Aid payout for 2011 did top the R1 000 000 mark though - I do not complain about Medical Aid premiums since then.

[Goofaloop]

yip...i received an increase of 16%.

[Goofaloop]

After contacting TS about the 16%, the increase was done on my Triton as well, which was bought 2 months ago, this was incorrect(computer mistake), and should've only been done on the Terios, as it was purchased before 2013.

But my policy was corrected thanks to the prompt service from Ryan Smith!

So the increase is only: 5%

[ChrisLab]

After contacting TS about the 16%, the increase was done on my Triton as well, which was bought 2 months ago, this was incorrect(computer mistake), and should've only been done on the Terios, as it was purchased before 2013.

But my policy was corrected thanks to the prompt service from Ryan Smith!

So the increase is only: 5%

Good on you Ryan.

Chris.

[Mad Manny]

Really?
Someone started a Thread about a R100.00pm premium increase?
Really?
Then used the angry emoticon ().
Really?
Then used the phrase "I have a feeling I am being quietly screwed".
Really?
I'm not a TS client, but I think this Thread was uncalled for.

[Nico-MAD]

I fully agree guys. Bought box tape today, no big issue, up 50 cents a roll. Yesterday letter from my shippers, now up 14%. Everything goes up and we just have to accept it. Three weeks ago SWAMBO broke down while I was away on business( attempted to steal our Tuner ) and our VERY EXPENSIVE TS had the car towed in and delivered to our local workshop. Guess what, did not cost me one cent. Guy's, it's so easy, if TS does not do it for you, there's 100's of other insurers, try them. Believe me I have.
Nico

[hunter26]

Really?

Someone started a Thread about a R100.00pm premium increase?

Really?

Then used the angry emoticon ().

Really?

Then used the phrase "I have a feeling I am being quietly screwed".

Really?

I'm not a TS client, but I think this Thread was uncalled for.

Manny,are you not quoting one of your clients letters to in this post .................or are you sucking up to TS to actually insure your ahem carvehicleplastythingy.

PS recovering your JMC means.......using a broom and dust pan to collect the fallen parts.

[Stranger]

While on the subject of increases, please offer an opinion Raymond if you read this.

The vehicle is insured at an agreed value, which includes a number of mods and or extra's that are a part of the vehicle or travel with the vehicle.

Those extra's or mods will have gone up in price. If we take an RTT as an example, a year ago it may have been worth R8 500 but today now will cost R10 000 to replace. the question then is, should the sum insured then not increase and we be charged accordingly.

Or in the event of a total loss of the item will we be covered at the cost of the item and the time of commencement of cover.

[Raymond du Plessis]

I will respond to this a little later today. Please allow me the time as this is not going to be a one line response.

[calamari]

Rob 858, you are so indignant about a 2 Rand a week increase?, you do not say what you insure,, I assume a cheapy old bakkie? what is your annual premium? that a 100 rand is such a big percentage? Is it more than 10%?, .. I have no doubt that with all the facts, a more balanced picture will emerge,,
you are not FORCED to insure a vehicle.

[Raymond du Plessis]

While on the subject of increases, please offer an opinion Raymond if you read this.

The vehicle is insured at an agreed value, which includes a number of mods and or extra's that are a part of the vehicle or travel with the vehicle.
Under the TUFFSTUFF insurance product, the vehicle's insured value (maximum indemnity) is as you have stated, on an agreed value. The result of this is that the insured value will not reduce over a three year period from the date of cover incepting on the said vehicle and as such, any depreciation of the vehicle will be negated by this manner of insuring the vehicle. The insured value as reflected on the TUFFSTUFF policy schedule is made up of two components:

1. the agreed value of the vehicle plus
2. the total value of of all accessories which are seperately specified under the motor section of the policy.

It must be remembered that althought the policy is one of an agreed value, the client has the right to reduce the agreed sum insured at any time, but the Insurer cannot decrease it within the agreed term (in this case 3 years from the inception of the cover on that specific vehicle). However, should the client elect to reduce the sum insured during this term, the Insurer then has the right to exercise the option to re-rate the policy in accordance with the prevailing rating structure at the time of such a reduction in sum insured. If the prevailing rating structure should show an increase over the historical rating structure (as it was at inception), then there will not be a directly proportional reduction in the premium payable by you on the reduced sum insured.

In many instances, the revised rating structure may very well show an increase in premium payable despite the reduction in the sum insured. This is a crazy situation but it must be remembered that if your vehicle was insured (lets say) 18 months ago, your historical rating structure is already 18 months old and it has in all probability not been exposed to ongoing rate increases (if there have also not been any claims) over this period. Consequently, two vehicles of equal value and make/brand which are insured 18 months apart will show a difference in premium payable in that the first vehicle insured 18 months previously is paying an historical premium and the vehicle insured 18 months later is paying the current increased premium.

It is here that you should consider the advice given to you by your Inurance Broker in that it may not be worth your while to reduce a sum insured before the agreed term has expired as it may result in an increase in your premium. However, the choice is always yours to make.

Those extra's or mods will have gone up in price. If we take an RTT as an example, a year ago it may have been worth R8 500 but today now will cost R10 000 to replace. the question then is, should the sum insured then not increase and we be charged accordingly.
Yes, the sums insured relative to the specified accessories should be increased accordingly. However, it is advisable that the insured takes an active interest in this since there are so many different brands on the same type of accessory and as such there are so many differnt ways in which these may escalate in replacement values. A simple 5% or 7% escalation will simply not cut it and the insured should keep abreast of what these values are and make the adjustments accordingly on a regular basis.

Many persons are of the opinion that since the basis of the policy is one of an agreed value, they will be adequately compensated for in order to replace the said vehicle with something similar (or even a later model) and be able to re-fit their 4x4 with those accessories which they require.

Or in the event of a total loss of the item will we be covered at the cost of the item and the time of commencement of cover.
Discussed above.

My response above is in red.

A further word of advice; don't hesitate to speak with your Broker to get proper financial advice in order that you may make an informed decision.

[Stranger]

Thanks Raymond, certainly puts things into perspective.

[Franna 4x4]

Thanks for the explanation Raymond

[johannes14]

really?
someone started a thread about a r100.00pm premium increase?
really?
then used the angry emoticon ().
really?
then used the phrase "i have a feeling i am being quietly screwed".
really?
i'm not a ts client, but i think this thread was uncalled for.

+10

[Biggles]

This thread is becoming so typically South African. What ever you do don't complain about an increase... you should be grateful it is not more!! Send a thank you letter that the increase is less than another increase you got