Anybody had an insurance rebate given to them by insurer ?

[G2]

Lockdown sort of suits my preferred lifestyle.

:yeah: times 10. Social distancing at 20m would make it perfect :thumb:

 

[ch3tman]

Since this forum is strongly linked with AIB - I know, they are brokers not insurers - do they have any comments or observations on refunds from Insurance companies in the present circumstances?

^ this... where are you AIB?

 

[wasz]

Its probably in the hope you don't just cancel your policy and take a new one out when lockdown lifted....

I bet loads of people have been cancelling policies.

 

[jonttt]

Its probably in the hope you don't just cancel your policy and take a new one out when lockdown lifted....

I bet loads of people have been cancelling policies.

mmmmm maybe but that would leave cars uninsured....where they are on finance I thought they had to be :dont know: ......

I suspect there is a bigger picture here that may be interesting.....I jsut don;t trust Insurance companies......or banks.....or Utd supporters....or........the list goes on :grin:

 

[chicb]

Great marketing ploy, whoever thought that one up should get a bonus. Its so that when its time for renewal, something in your subconscious lets you know that Admiral is a firm to be trusted. Or am I just being cynical.

 

[Magic919]

I have Admral multi car and pay monthly so I guess I won't qualify :sad:

Why not?

 

[Disco]

Its probably in the hope you don't just cancel your policy and take a new one out when lockdown lifted....

I bet loads of people have been cancelling policies.

mmmmm maybe but that would leave cars uninsured....where they are on finance I thought they had to be :dont know: ......

You can get very cheap cover for SORNed cars if you take them off of the road, so for multiple car households at the moment (of which to be frank - there are a lot in the UK outside of the denser cities) there is significant potential to save cash. This feeds back into the old adage that it is far cheaper to keep an existing customer than win a new one or get an old one back.

Eager newshounds will have noticed this starting in the US a few weeks ago - essentially some of their big insurers are mutuals (i.e. "non-profit") and it was they that started the thing with rebates as they simply weren't paying out claims as projected since the start of the lockdown. Giving a rebate is much better PR than discounting renewals - so what we have here is people doing a good job of exploiting an adverse situation for positive coverage while at the same time genuinely benefiting their customers.

A few companies have taken potentially surprising measures to retain customers across the lockdown period. All of the smart gyms contacted customers as soon as they were ordered to close informing them that they would not be taking direct debits for the duration so there was no need to cancel. Even Sky provided a web page where with a few clicks people could "pause" their sports coverage (so they leave your channels active but stop billing your sports package) until live sport resumes, meaning that there wasn't a rush for people to cancel (and to the company - the risk that they may not re-subscribe to them again afterwards). They have smartly ran the numbers and concluded that the cost of doing this sort of thing is ultimately less than the potential long term losses of revenue if people cancel out and any negative publicity that may ensue.

 

[jonttt]

:hand: the Sky is a con as most customers are on some sort of discount from the full price......if you pause you lose the discount :wack:

Most firms are simply out to exploit which is why I'm sceptical about a voluntary rebate.....it may be as you say ie business sense but one thing I know for certain they will be doing it knowing it 100% benefits them .....which makes me think / wonder if people would actually be due back more and in accepting the rebate they limit that risk / exposure :?:

 

[Magic919]

:hand: the Sky is a con as most customers are on some sort of discount from the full price......if you pause you lose the discount :wack:

You don't, but don't let the facts get in the way.

 

[modz1r]

clever PR move by Admiral/Elephant.

I'm happy as got a 4 car multi policy with them. But then I've always had good dealings with them so I think they're good anyway.

 

[kaypaul]

As I pay £68.00 monthly for a multi car policy which I can suspend or cancel at any time Why would I expect a refund against an annual full paid up policy ?
I could take that and cancel and find another insurer.

 

[Magic919]

It's just a bonus. You're likely to have it by the way end of May like the rest of us.