insurance refund
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- Minor Legend
- Posts: 1182
- Joined: Wed Aug 12, 2009 7:38 pm
- MMOC Member: Yes
insurance refund
having killed my mg to such a point that it is going to be scrapped, can i get a refund on my insurance, its been only 3 months i have had the insurance, so i am presuming (heavily) that i could get a refund for the remaining 9month or so. is this right?
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- Minor Friendly
- Posts: 71
- Joined: Sun Mar 08, 2009 3:23 pm
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Re: insurance refund
You are right in assuming you'll get a refund but it will probably only be a small percentage of the premium, and you might have to wait for up to sixty days for your insurance company to cough up.
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- Minor Legend
- Posts: 1182
- Joined: Wed Aug 12, 2009 7:38 pm
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Re: insurance refund
fudge, was kinda hoping it might of been abit more, could probably with a heated rear screen for primrose, maybe even a gearbox rebuild, its sounding a bit crunchy
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- Minor Legend
- Posts: 2217
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- Location: West Midlands UK
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- Minor Legend
- Posts: 1182
- Joined: Wed Aug 12, 2009 7:38 pm
- MMOC Member: Yes
Re: insurance refund
that the plan, once the bank of dad is back from holiday
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- Moderator
- Posts: 7679
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- Location: LEAMINGTON SPA
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Re: insurance refund
Not all will offer a refund!
For those that do, it will be pro-rata on remaining months or mileage (if it was a limited mileage policy) minus an admin fee.
If they say you can't have a refund, please do check it and hassle about it - I was once refused a refund, despite having placed this as a pre-requisite to taking out the policy (I insured a car I was trying to sell). I had to quote consumer law back to them about miss-selling before they gave me what I should have had in the first place (although the cheque took 60 days)
Do be prepared to wait, and also remember to chase it! On my other refund (for a wrongly sold policy that was cancelled in the first week as it wasn't valid) I had to hassle them for 5 months. I sent my certificate back recorded delivery as I didn't trust them - despite a delivery receipt they said I had not sent it! They insisted that I fill in forms stating that I had lost the certificate, and then they still didn't send a refund until I contacted the insurance ombudsman.
For those that do, it will be pro-rata on remaining months or mileage (if it was a limited mileage policy) minus an admin fee.
If they say you can't have a refund, please do check it and hassle about it - I was once refused a refund, despite having placed this as a pre-requisite to taking out the policy (I insured a car I was trying to sell). I had to quote consumer law back to them about miss-selling before they gave me what I should have had in the first place (although the cheque took 60 days)
Do be prepared to wait, and also remember to chase it! On my other refund (for a wrongly sold policy that was cancelled in the first week as it wasn't valid) I had to hassle them for 5 months. I sent my certificate back recorded delivery as I didn't trust them - despite a delivery receipt they said I had not sent it! They insisted that I fill in forms stating that I had lost the certificate, and then they still didn't send a refund until I contacted the insurance ombudsman.
Ray. MMOC#47368. Forum moderator.
Jan 06: The Minor SII Africa adventure: http://www.minor-detour.com
Oct 06: back from Dresden with my Trabant 601 Kombi
Jan 07: back from a month thru North Africa (via Timbuktu) in a S3 Landy
June 07 - back from Zwickau Trabi Treffen
Aug 07 & Aug 08 - back from the Lands End to Orkney in 71 pickup
Sept 2010 - finally gave up breaking down in a SII Landy...
where to break down next?
2013... managed to seize my 1275 just by driving it round the block
Jan 06: The Minor SII Africa adventure: http://www.minor-detour.com
Oct 06: back from Dresden with my Trabant 601 Kombi
Jan 07: back from a month thru North Africa (via Timbuktu) in a S3 Landy
June 07 - back from Zwickau Trabi Treffen
Aug 07 & Aug 08 - back from the Lands End to Orkney in 71 pickup
Sept 2010 - finally gave up breaking down in a SII Landy...
where to break down next?
2013... managed to seize my 1275 just by driving it round the block
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- Minor Maniac
- Posts: 7845
- Joined: Thu Jan 25, 2007 3:18 pm
- Location: South East London
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Re: insurance refund
"pro-rata", I don't think so, not for a regular insurance anyway, with that the first day or week or month is very dangerous so they charge a lot more for it.
Somehow you get safer as time goes by.
Somehow you get safer as time goes by.
"Once you break something you will see how it was put together"
- d_harris
- Minor Legend
- Posts: 4388
- Joined: Thu Apr 15, 2004 3:52 pm
- Location: Sunny Brighton
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Re: insurance refund
Actually, under recently introduced European legislation if you are charged an annual fee for a non-contractual product (which car insurance is) the company concerned are obliged to provide an appropriate pro-rata refund. They are still allows to charge admin fees though
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- Minor Maniac
- Posts: 7845
- Joined: Thu Jan 25, 2007 3:18 pm
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Re: insurance refund
Nice one Europe!
Insurance companies do well enough already, I always rated their refund policies as a stitch up.
Insurance companies do well enough already, I always rated their refund policies as a stitch up.
"Once you break something you will see how it was put together"
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- Minor Legend
- Posts: 3773
- Joined: Wed Jul 14, 2010 10:53 am
- Location: South Manchester
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Re: insurance refund
i have been with ADRIAN FLUX on three classic car policys and when i told them i had sold the cars they refused to give me any refund and say thats how the policy works and no refund given even after cancelling after 8 weeks
- twincamman
- Minor Fan
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- Location: Llanelli
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Re: insurance refund
I had that reply from Heritage a few years back, so I reported them to the Insurance ombudsman and eneded up getting a refund less the admin costs.irmscher wrote:i have been with ADRIAN FLUX on three classic car policys and when i told them i had sold the cars they refused to give me any refund and say thats how the policy works and no refund given even after cancelling after 8 weeks