Do you get a refund on policy after write off?

treeroy

Hi, I have written my car off. I've had the car 2 months so i'm 2 months into my insurance policy. I was anticipating that if they decide to write it off, that I would get a refund on the rest of the year (10 months pro rata), as I do not require the insurance policy for the remainder of the policy duration.

However my insurer (admiral) has told me this is not the case and I will not get any money back from the policy. They said if I get another car and choose to insure it through Admiral then they will update the policy and keep it going for the remainder of the 10 months.

Is this right? i paid £500 for a 12 month policy so if it is cancelled after 2 months would think i get £400 of it back (minus maybe an admin fee)

Thanks.

MX5huggy

Morning, yes they are right. 

Scrapit

treeroy said:

Hi, I have written my car off. I've had the car 2 months so i'm 2 months into my insurance policy. I was anticipating that if they decide to write it off, that I would get a refund on the rest of the year (10 months pro rata), as I do not require the insurance policy for the remainder of the policy duration.

However my insurer (admiral) has told me this is not the case and I will not get any money back from the policy. They said if I get another car and choose to insure it through Admiral then they will update the policy and keep it going for the remainder of the 10 months.

Is this right? i paid £500 for a 12 month policy so if it is cancelled after 2 months would think i get £400 of it back (minus maybe an admin fee)

Thanks.

If youve written off your car you have "used" up your insurance, ie. You have got what you have paid for. This is the same if you write off the vehicle in the first day of cover or the very last. Think of it like a crash helmet. You crash, the helmet splits in half because of the impact but saves your life. Its done its job but you'll never use it again no matter how new or expensive it is.

Grumpy_chap

Yes, this is correct.  No refund on a policy once it has paid out a claim.  You can still make an admin change to a new vehicle (which may be subject to an admin fee plus change in premium).

treeroy

Thanks for the answers. Make sense!

am considering buying the car back and selling it for parts if the total payout isn't as much as i hope for. don't want to lose too much money on this crash

[Deleted User]

treeroy said:

Thanks for the answers. Make sense!

am considering buying the car back and selling it for parts if the total payout isn't as much as i hope for. don't want to lose too much money on this crash

My TR7 was taxed for another 5 years after I wrote it off, so somebody must have bought the wreck and put it back on the road.

treeroy

jack_pott said:

treeroy said:

Thanks for the answers. Make sense!

am considering buying the car back and selling it for parts if the total payout isn't as much as i hope for. don't want to lose too much money on this crash

My TR7 was taxed for another 5 years after I wrote it off, so somebody must have bought the wreck and put it back on the road.

if theres a will, theres a way!

I'm gonna go and look at the car later ,it was taken away by police so i haven't seen it in daylight yet. Insurer said that if they take it and sell it to salvage company, they will give me salvage company's details so if they repair it i can buy it back.
Alternatively i could take the payout and keep the car, ive already had a couple of interested people saying they will buy it off me to break it. 
Its a Honda Civic type R, a lot of parts on it that are quite valuable on the second hand market. The carbon fibre air intake is an easy £500 on its own! the cars are broken all the time cause they're low value cars but with very valuable parts.

Hasbeen

If as you say

treeroy said:

jack_pott said:

treeroy said:

Thanks for the answers. Make sense!

am considering buying the car back and selling it for parts if the total payout isn't as much as i hope for. don't want to lose too much money on this crash

My TR7 was taxed for another 5 years after I wrote it off, so somebody must have bought the wreck and put it back on the road.

i
Alternatively i could take the payout and keep the car, ive already had a couple of interested people saying they will buy it off me to break it. 

Do you mean take a reduced payout and keep the car?

Did this years ago with peugot 306 Written off. Bought car back. Needed drivers door and n/s front wing / mirror, trim, etc.
All from scrap yard same colour £75. Fitted in few hours and kept for 6 years.

sweetsand

Our Land Rover Dsico was totalled many years ago - it was coming up to three years and a lorry ran into the back of it in static traffic on the M way in the first lane and pushed us up into the lorry in front - we had the car from new and it was written off and as we got a payout the insurance, remaining few months were written of as well as they had "paid out," is what I recall so poss insurance companies have changed their stance now.

Clive_Woody

It's a contract for an annual (year long) policy that you agreed to, regardless of whether you pay in full or monthly, the full annual cost has to be paid, even if you make a claim on day 1 of the policy. Effectively, if a claim is made then you have used the policy, no refunds or cancellations at this point.

treeroy

Hasbeen said:

If as you say

treeroy said:

jack_pott said:

treeroy said:

Thanks for the answers. Make sense!

am considering buying the car back and selling it for parts if the total payout isn't as much as i hope for. don't want to lose too much money on this crash

My TR7 was taxed for another 5 years after I wrote it off, so somebody must have bought the wreck and put it back on the road.

i
Alternatively i could take the payout and keep the car, ive already had a couple of interested people saying they will buy it off me to break it. 

Do you mean take a reduced payout and keep the car?

Did this years ago with peugot 306 Written off. Bought car back. Needed drivers door and n/s front wing / mirror, trim, etc.
All from scrap yard same colour £75. Fitted in few hours and kept for 6 years.

I just went to the police impound to see the car and it's way worse than it looked like last night. That car is never going back on the road...