My Car Has Been Stolen - Do I Get An Insurance Refund if they cancel it?

MaddieSparks

Thanks, I will definitely try all of this.

Dukesy

vaio wrote: »

Unfortunatelythe OP is with Admiral who I'm pretty sure end policies with no refund on a total loss payout (so can't be transferred to replacement car) and also they only do market value rather than like for like if under a year old.

My car was a total loss (write off) and they transferred my policy onto my replacement car.

dacouch

If you were with virtually any other Insurer apart from Admiral, you they would pay for a replacement brand new car if the car is written off / not recovered after a theft in the first year of ownership from brand new...

rs65

Insured with Admiral and no GAP insurance ...... Ouch!

Buzby

As the car was not new, (it had more than delivery mileage) it would be a very good insurer who agreed to new for old under these circumstances. Any settlement will then be based on market value at the time of the theft. Whether this pays off the finance will depend largely on the deposit (whether in cash, a trade-in or a mixture of the two).

Insurance is based on an annual commitment, so it is folly to assume that just because you pay it up monthly, means you are due an immediate severance. Even if the insurer arranges monthly payments, they may be only an intermediary, receiving full payment at policy inception from the credit firm who takes the ongoing payments at the agreed rate.

So any subsequent claim or settlement will not affect your requirement to pay. What may happen is the agreed settlement figure will be reduced by the amount owing, with you receiving the remainder.

rs65

Buzby wrote: »

As the car was not new, (it had more than delivery mileage)

I read the OP as it was new when they got it and 1200 miles when it was stolen.

hugoshavez

Fiat 500s are stolen to order?

MaddieSparks

rs65 wrote: »

Insured with Admiral and no GAP insurance ...... Ouch!

My car has been stolen, its a stressfull time, I asked for advice not stating the ovious and sarcasm!

MaddieSparks

rs65 wrote: »

I read the OP as it was new when they got it and 1200 miles when it was stolen.

I bought the car new in August, it is 6 months old.

forgotmyname

You may see some posts as sarcasm but i would expect the insurance to be invectigating this fairly closely.

Modern car with alarm and immobiliser stolen. Have you lost any keys?

Do admiral not do new for old then? If its within the 1st months/ year?

Thats not good.