Robbed by AXA Insurance

Why do we insure our household goods and valuables? Yes, you are right, to cover our loss when things get lost or damaged. In September, AXA Insurance sent us their policy renewal invoice of US$702. We paid and received our new policy as we have done for the last eight years with this company (previously called Guardian insurance).

Fortunately we never had to claim anything, so the insurance company made a nice profit from us over this period. But that is the price to pay for some security. So when my wife recently lost a golden bracelet we were comforted by the fact that we were insured.

I asked AXA to send me a claim form, which they did. But they also did something else, even though I am yet to fill out the claim form -- they immediately increased my premium of the already renewed and paid new policy by 60 percent from 1.2 percent to 1.9 percent.

This means that if you insure yourself with AXA and dare to claim something, your premium will be increased so much, that you pay yourself for the reimbursement of your loss.

Needless to say that I am now looking now for another insurance company, because the risk of being robbed by AXA is larger than the risk of burglary.

J.W. HEILIJGERS

Jakarta