Insurance - Anyone ever had a refund?

Davidboy

I am just wondering, as we are money savers to some extent, but has anyone ever contacted an Insurance company to make some change part way through a year and the Insurance company has said that it will cost LESS than you are currently paying!!

I am primarily taking about car insurance, but whenever I have notified any insurance company of any sort change it has ALWAYS cost me more, they make some sort of excuse, and up goes my premium. I was just wondering if someone actually got a refund cos the change you make made the premium less. Does such a thing exsist as a lower premium or is that "against their religion"!!!!

If you did manage to get a refund, how? What was the change?

D

dunstonh

I am just wondering, as we are money savers to some extent, but has anyone ever contacted an Insurance company to make some change part way through a year and the Insurance company has said that it will cost LESS than you are currently paying!!

A couple of times personally and a number of times with clients.

Amounts never great. Usually around the £15 mark.

DaisyNelson

Yes, happened to me. I put my OH on my car insurance and was told this reduced the premium. Had a refund of around £7, paid direct into my account promptly. I did question it as I had never heard of insurance companies giving money back before!

soolin

Yep, recently had my car written off and had to get a new one. Phoned my insurer and got a refund as the new car was cheaper to insure. Credit hit my credit card within days.

Soo

Savvy_Sue

Me too, changed car from very large and silly one to small and economical one, monthly premium reduced considerably (I know, I know! It WOULD be cheaper to pay it all at once but we can't all be perfect and we are getting there!)

Davidboy

CRICKY MOSES!!! I've just picked myself up off the floor!! At least some of you have succeeded then.

Must just be me then :0(


D

ceebee_2

No reduction on current insurance but a couple of years ago I had a disagreement about my No Claim Discount. At the end of the year, when I declined to renew, they reviewed my complaint, agreed with it and not only refunded the overcharge but made an ex-gratia payment as well.

BenL

When I moved house into my first house my premium with direct line was reduced slightly.

I used to work in IT for Abbey Home/motor insurance and the system was built to do refunds.

The minimum was £2.50 that would be refunded.

Anything under that would be put into the profit for the policy.

I'm just trying to remember about increasing up, I think any changes that would put the premium up by £1 for instance were rounded up to £2.50 then IPT added.

Make money on both sides, not silly these companies.

Ben

Zaphod_Beblebrocks

I wondered this myself,when I changed to a less valuable car with slightly bigger engine premiums went up(old car worth £4000 new worth £400),when I then changed to smaller car worth slightly more premiums went up,when I then moved approx 1 mile into a house with a garage premiums went up!!!!

Davidboy

Ahhh Zaphod - you're the same as me then. Glad I am not the only one!!

D

Savvy_Sue

Zaphod_Beblebrocks wrote:

I wondered this myself,when I changed to a less valuable car with slightly bigger engine premiums went up(old car worth £4000 new worth £400),when I then changed to smaller car worth slightly more premiums went up,when I then moved approx 1 mile into a house with a garage premiums went up!!!!

Probably a reflection of the different 'class' each car was in, and then your postcode change!