Talk to your car insurer to see if you can get some money back

Motorists looking for a little bit of financial relief during the lockdown are being advised to talk to their insurers to see if they can get help that way.

Admiral recently hit the headlines when it sent back £25 to each of its customers “in recognition of the fact that its customers are staying at home and driving less during the UK-wide covid-19 lockdown”. The insurer said its gesture was to reflect that there have been fewer cars on the road during the lockdown, and it expected that to result in fewer claims.

The automatic refunds, which were worth a combined £110m, prompted speculation that rival insurers might follow suit. But even if they don’t, there could be other ways to claim some cash back, according to price-comparison website Gocompare.

“We welcome any insurer lowering the cost burden on households at this difficult time, and it’s great to see Admiral leading the way and offering its customers a £25 refund on their car insurance,” said Gocompare boss Lee Griffin.

“We are in a period where most people are using their cars less and insurers will receive fewer claims as a result, so it will be interesting to see what other insurers are able to do to help their customers.

“But anyone who is struggling financially right now shouldn’t wait for their insurer to offer a refund. For example, many insurers are already helping customers with payment deferrals, enabling them to reduce their stated mileage to get lower premiums or to change to third-party, fire and theft cover, if it’s appropriate.”


Warning: A non-numeric value encountered in /www/sites/d9e/90c/www.talk-money.co.uk/web/wp-content/themes/Newspaper/includes/wp_booster/td_block.php on line 352