For years I’ve advised consumers to contact their motor vehicle insurers annually to request that their insurance premiums be lowered to account for the fact that their “wheels” are a year older, and have a lower value.
So I was thrilled to spot, in the middle of a press release jointly released by the Treasury, the Financial Services Board and the SA Insurance Association (Saia) last week, the news that Saia is to amend its code of conduct, “formalising the insurance practice of regularly and automatically reassessing the value of motor cars, without any prompting from the customer”.
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