Is there anything that I can do to prevent my premium from increasing? There are many actions with little or no cost that can be done. Tip 38 – Why has my premium increased when I have never had a claim? I can report that the number of our ShoProtect policyholders who have had a claim within the last five years is 15%. Those of you in this category are facing premium increases ranging from 40% and some far more dramatic than that. Is this enough to recoup the claims paid keeping in mind that they are being funded by the premiums and not some mysterious fund stashed away somewhere? No it is not. It does contribute significantly but those who have been unfortunate enough to suffer a loss leading to a claim simply can’t hope to ever repay their losses alone. Thus is the fundamental principle of insurance. Those of us who are claim free contribute to assist others to recover. Hence claim free policyholders are facing a current rate increase of 25%. I am genuinely surprised and perhaps a little saddened when I am asked, “why should I have to carry losses for others?” The sad thing is the need to remind them that, “it could be you tomorrow!” Always remember – call us to discuss any/every incident. We will advise and guide you.