Car insurance refunds??

[Ritchie6]

Just wondered what anyone else's thoughts are about car insurers giving out refunds due to us being unable to use our cars because of the lockdown. Admiral has already announced that it will give back £25 to customers who held a policy with them on April 20th and apparently other companies are "considering their position". I'm with the club's insurer RH and my daily driver is with the AA but as yet there's nothing forthcoming. I haven't been out in the Fiesta for more than 4 weeks and the Stag is slightly longer, having been taken for an MOT in mid March. We know that insurers don't like parting with money so I wonder how long we'll be kept in the dark?

Richard

[Goldstar]

I doubt RH can afford to give out a refund when a lot of policies are only £100 or so. Most underwriters will have a minimum premium Around the £50 plus IPT so not much left for overhead and profit. My BMW on the other hand at £400 is a different kettle of fish.

[Niallcat]

You can contact your insurer and nominate that you car is not in use so not insured for road risks but still for fire theft etc. And hopefully get a credit

[CJG]

Just got my renewal through for the everyday VW that's been parked up during lockdown, refund! they have put it up by a 3rd. (go compare here we come).

[Ritchie6]

I doubt RH can afford to give out a refund when a lot of policies are only £100 or so. Most underwriters will have a minimum premium Around the £50 plus IPT so not much left for overhead and profit. My BMW on the other hand at £400 is a different kettle of fish.

RH must have charged me too much because I paid £180 for the Stag last July which is nearly £50 more than my daily driver,although my Fiesta doesn't have a guaranteed value of £23K.

Richard

[fussydave]

I had a quote from RH for the Stag at the end of March, £170. My present company renewal was £101 for the same cover. And when the written quote arrived from RH it was full of errors. Not very impressed yet again.

Dave.