Admiral refunding £25 to every customer for lockdown

Mutton_Geoff

I see Admiral have just announced a refund for existing customers of £25 due to their reduced costs of claims etc.

https://www.admiral.com/stayathome

DoaM

Maybe others will follow suit ... hopefully. (Ours is with Halifax).

Penelopa.Pitstop

Nice of them. So if you have more than one car insured, it should be more money:
"A £25 refund will be automatically given to all customers in the coming weeks for each car and van which was covered with us on 20 April 2020, a total of 4.4m vehicles."

Petriix

Thanks for the info. I've just given notice to cancel my multicar policy with them which is due for renewal on 1 May. Looks like I'll still qualify for the refund. A welcome £50 bonus!

Aylesbury_Duck

They get a lot of criticism for their no-frills insurance and are quick to charge admin fees for the slightest thing, but credit to them for this.  I'll be getting an unexpected £50 which will be heading to a local cause in a bit of trouble at the moment.

DD265

It's nice to see positive comments; all I've seen elsewhere are complaints that it's not three month's worth of premium, we should be getting 'road tax refunds because we're not using the roads' etc etc.

My sister was made up with £25 that she wasn't expecting.

Marvel1

I'm just waiting for them to then increase premiums to claw it back.

roddydogs

So come on Esure follow suit!

dacouch

Marvel1 said:

I'm just waiting for them to then increase premiums to claw it back.

It's almost inevitable that all Insurers will increase their premiums, it always happens in a recession as most Insurers lose money on premiums received / claims paid out. They make their money on investing the money and during a recession their investment returns reduce.
It happens whenever their is a recession 

TripleH

I suspect there will be a small surge in claims after lockdown (on pre-lockdown figures). It's quite an effort to drive after a long absence from driving and people may be sluggish. This added to those who have been driving fast on empty roads taking time to adjust down.

dacouch

TripleH said:

I suspect there will be a small surge in claims after lockdown (on pre-lockdown figures). It's quite an effort to drive after a long absence from driving and people may be sluggish. This added to those who have been driving fast on empty roads taking time to adjust down.

There will also be a small surge in theft / fire claims which always happen when we enter a recession