So the potential payout the insurance company is risking is 100-150% greater, all other factors are the same and you are surprised that your premium has gone up 120%?
Thats not how they base their premiums, otherwise new car insurance would be unaffordable. Car value is only a small proportion of the overall calculation. It may be the insurance company doesnt want to insure that model due to perceived risk, accident history, cost of repair, or maybe his neighborhood has had several high value claims recently.
Op should shop around, the insurance market is very competitive.
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