Refund on Insurance

Naomim

Hi everyone,

My DH renewed his bike insurance in February and we paid in full via a debit card. In March he had an accident. His bike was written off and the insurance company has paid out for it. As he only used one month's insurance and isn't getting another bike would he be able to claim for a refund on the rest of the year?

Thanks

Naomi

dacouch

There is normally no refund of premium if you cancel your Insurance after a claim. The Insurers may allow him to cover a new bike on the remainder of the policy, there is sometimes an extra premium to pay.

krystal-divination

Depending on the company policy he should be entitled 'perhaps' to pro rata refund that maybe subject to a cancellation fee deducted from the amount refunded back.

he needs to call and ask the company, as companies do vary on there terms.

Naomim

I didn't think he would as he's claimed and they've paid out.. he's definitely not getting another bike as we have bought a very, very old 2nd car now.

Naomi x

krystal-divination

I work for a Large well known insurance company and deal with this sort thing day in and day out, and we would refund remaining of year minus cancellation fee.

dunstonh

Most insurance companies will not offer a refund if you claim.

McKneff

Would they transfer your bike insurance to your car ?

krystal-divination

McKneff wrote: »

Would they transfer your bike insurance to your car ?

They may cancel bike for you then quote on car and perhaps transfer the remaining funds from the bike to car policy

i know our company will