Apart from Admiral anyone had a covid reduction in insurance

Apart from Admiral anyone had a covid reduction in insurance

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Discussion

twokcc

Original Poster:

827 posts

177 months

Monday 18th May 2020
quotequote all
FCA now asking icar nsures to look ar reducing car insurance premiums

From saturday's Times

One of the key things insurers are being asked to do is examine whether they can offer lower premiums to customers because they are now a lower risk, for example on motor insurance, where customers may be driving many fewer miles than before.

AA certainly aren't looking at this renewed on !1th April sat on drive since unused and likely to stay like this. Say they will look into at renewal time.

Anyone had any success at getting a reduction or been offered a significant renewal quote since covid lockdown

MrVert

4,395 posts

239 months

Monday 18th May 2020
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I think it's just Admiral at the moment. I've got a multi-car policy with them, getting £25 per car...

It's a nice gesture, but considering the minuscule amount of mileage we're doing at the moment, it does make you wonder if more should be forthcoming...

Cold

15,247 posts

90 months

Monday 18th May 2020
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My mileage hasn't really changed much.

swisstoni

16,997 posts

279 months

Monday 18th May 2020
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Fair play to Admiral if they turn out to be the only ones.
They will go on a few people’s good guys list after this.

Maybe the rest are going to take it off the cost of renewals. whistle

thebigmacmoomin

2,798 posts

169 months

Monday 18th May 2020
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Nothing from Hastings.

Usually drive everyday but since this was started, only driven 3 times since end of March.

mmm-five

11,239 posts

284 months

Monday 18th May 2020
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Cold said:
My mileage hasn't really changed much.
I'm doing over 2000 miles less a month!

ChrisNic

592 posts

146 months

Monday 18th May 2020
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Admiral made a complete mess of my policy cancellation. They paid me £50 in compo for the time I wasted trying to sort it and because they left me with an active policy in error I received an email confirming the refund is on its way as well smile

DaveH23

3,236 posts

170 months

Monday 18th May 2020
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My partner is with Diamond, she got £15/25 refunded from memory.

I'm with esure and don't believe I've had anything back from them.

anonymous-user

54 months

Monday 18th May 2020
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Directline have said if you are going to do at least 1000 miles less than expected to call them to discuss. Probably to say they are discounting the policy due to mileage but the theft risk has gone up so that will be an extra £50. please sir.

Chester draws

1,412 posts

110 months

Monday 18th May 2020
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Received £25 from Elephant today. (Are they under the same umbrella as admiral??). [Edit- yes they are]

Only paid them £180 to start with!

Edited by Chester draws on Monday 18th May 22:48

Alucidnation

16,810 posts

170 months

Monday 18th May 2020
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LV.

But you have to call them.

Max5476

984 posts

114 months

Tuesday 19th May 2020
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Elephant gave us the £25 refund, but promptly put insurance up by £200 on renewal!

Unfortunately looking on comparison sites it seems to have gone up across the board - I've not changed anything on the policy since last year and yet looking at a 25% rise. I'm suspicious they are trying to find raise to replenish losses due to business continuity policies. (If they actually paid anyone out)

V8 Stang

4,382 posts

183 months

Tuesday 19th May 2020
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I had a letter from Ford Insure (part of Admiral) saying i will have a £25 refund.


I wouldn't say my car use has really reduced though, as i have been driving to work throughout.

Nimby

4,590 posts

150 months

Thursday 21st May 2020
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Not car insurance, but a neighbour mentioned their top-of-the-range Miele bean to cup coffee machine had broken. It's out of original warranty but they pay £18 a month (!) for next-day home repair or replacement if not repairable.

Company refuses to send a repair-man due to Covid, won't supply a new machine until they've inspected the old one, and won't part-refund premiums paid since lockdown either.

tanti007

24 posts

60 months

Saturday 23rd May 2020
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Had an email from Churchill this week saying if my mileage going to change by more than 1000 to fill in a online form and they'll do the rest.

Easy_Targa

463 posts

194 months

Saturday 23rd May 2020
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Elephant say they will send me £25.

Majorslow

1,166 posts

129 months

Saturday 23rd May 2020
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Diamond refunding my daughter £25

Knoxville2410

291 posts

59 months

Saturday 23rd May 2020
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I spoke to BMW insurance on live chat, they advised that because they don't charge any admin fees for amending/cancelling policies, they won't offer any refunds. They then offered to reduce my mileage if I wasn't using it.

Seems like a bit of a cop out!

twokcc

Original Poster:

827 posts

177 months

Saturday 23rd May 2020
quotequote all
Knoxville2410 said:
I spoke to BMW insurance on live chat, they advised that because they don't charge any admin fees for amending/cancelling policies, they won't offer any refunds. They then offered to reduce my mileage if I wasn't using it.

Seems like a bit of a cop out!
Same response for me with Mini (same BMW insurance) car done less than 100 miles since end of February, policy renews new week. Advisor rang me to ask if renewing said car hardy being used reducing mileage hardy made any difference-suggested try 400 miles p.a. response was that this would put insurance up because I driving experience minimal despite me advising him that would be using another car.He did run thro all the benefits of the policy and surprisingly it does include key cover, courtesy car and various other items than can be add ons wth other insurers. Also excess was lot less than that got on quotes from comparison sites, increase this by £200 (total £350) and premium reduced by £40. Left for time being but decent quote compared to ones on comparison sites. They also hold price until AA and Saga who advise quote only valid for 24hrs and then bump it up significantly when you go back to them.
Making very slow progress with AA on 2nd car but not got definite answer its like pulling teeth.
Apparently car insurers will save £1 billion from reduced claims but looks as if they all trying to hang onto it.

cologne2792

2,126 posts

126 months

Saturday 23rd May 2020
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Gladiator have just refunded me £25 for my Ford Ranger policy.
This reduces the premium to £179 for the year.
I'm quite happy with that smile