Direct Insurance - Monthly Admin fees??

[Skylark]

Direct insurers love advertising about going direct saves on admin fees and cuts out the middle man etc....as if normal insurance brokers are theses shady operaters who unethically load your premuims with admin fees....

 

What you know they love charging R200 or more joining fees and doing quotes that exclude monthly admin fees only mentioning it after the fact . Which is plain dishonest - if the admin fee is part of the cost for an insurer to offer you monthly insurance then what gives with only mentioning it afterwards? Something fishy/unethical about that tactic.

 

Recently got MTB bike insurance from Miway , decent price no mention of monthly admin fees , was happy . Then got a quote 2 months later for car insurance , seems great I'll go for it , then what you know the total monthly premuim is magically R75 higher than quoted , WTF!! Oh no sorry sir you have to pay an obligatory monthly admin fee of R75.

 

R75 over a few years + compound interest is quite a tidy amount of money...

 

Was with OUTsurance for 5yrs before Miway and I definitely can't recall a separate charge being made for monthly admin fees , they did want to charge a joining fee though - I can recommend refusing to ever pay joining fees to any direct insurer if they only make you aware of that fact after the quotation process , they always waive the "fee" after speaking to their "supervisor" , that particular interaction always feels wrong - as if you just fought off the advances of some kind of seedy conman.

 

What gives with this , what admin charges are other people getting charged from Miway and other insurers either direct or broker?