insurance refund

[cadetchris]

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?

[daveallgood]

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.

[cadetchris]

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

[chrisryder]

ring em and ask!

[cadetchris]

that the plan, once the bank of dad is back from holiday

[rayofleamington]

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.

[MarkyB]

"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.

[d_harris]

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

[MarkyB]

Nice one Europe!
Insurance companies do well enough already, I always rated their refund policies as a stitch up.

[irmscher]

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]

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

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.