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Car insurance refunds now available for some – will your provider offer you a…

by ace
Car insurance refunds now available for some - will your provider offer you a...

Car insurance company Admiral has said it will distribute more than £ 100 million in discounts to customers by the end of May. However, other companies have offered a number of offers, such as payment holidays instead of financial rewards. Express.co.uk contacted some of the UK's leading companies to see how they were helping drivers with the coronavirus.

Admiral

In one of the main offers for drivers, the Admiral revealed that he will return £ 110 million in reimbursements to car and van insurance customers.

This amounts to a £ 25 refund for all customers covered by the group on April 20, 2020.

A total of 4.4 million vehicles will receive the discount, which reflects the savings made due to fewer orders placed under block.

The admiral says the amount is equivalent to a month's premium revenue or a third of the brand's profits in 2019.

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Its intention is to return the savings to customers, instead of benefiting from a reduction in claims during the block.

The refund will be automatically credited to drivers until the end of May and each customer will be contacted with information within weeks.

Cristina Nestares, CEO of UK Insurance at the Admiral, said: “We want to donate the money that we would have used to pay these claims back to our loyal customers at this difficult time.

“We have also reflected this change in the behavior of directing our prices to customers and will continue to do so.

“The Admiral's stay at home reimbursement was launched to recognize the considerable efforts people are making, staying at home as much as possible and, as a result, less car.

"Customers do not need to contact us to receive this. We will contact them in the coming weeks to explain how we will refund them."

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Aviva

Aviva confirmed that it has launched a package of measures designed to support customers and key workers through the coronavirus pandemic.

Customers will be able to review and change their estimated annual mileage, which can reduce costs.

Drivers on a monthly policy may have reduced the pending premiums, while drivers on an annual policy may be entitled to a refund.

Aviva is also offering a three-month deferred payment to those facing serious financial difficulties.

The company has pledged to extend car insurance coverage to support changes in people's lives, while improved coverage will be provided to NHS workers.

Liverpool Victoria (LV)

LV says they are working with individual customers to do everything they can to help them with the situation.

They say that the support they are offering includes reducing driver premiums, temporarily changing the coverage offered.

This can occur through simple changes, such as updating mileage or changing driver coverage for third-party fire and theft contracts, if they do not plan to use a car.

LV said it is not charging administrative fees for cancellations and waives excesses in any claims for people in financial difficulty.

AXA

A spokesman said drivers can reduce their miles through their online accounts, which can have a positive impact on premiums.

AXA says it will waive the cancellation fee for any driver who wishes to make an Off-Road Statistical Notification (SORN) and not use his car.

Payment holidays can also be arranged with a team member who will see payments late for later dates.

The company says that key employees who are using their car instead of public transport do not need to change their policies to be covered.

It is the same for volunteers who are transporting patients or providing essential services.

However, the provision of extended coverage to key workers and those who volunteer to help vulnerable drivers was already required under the Charter of the British Insurance Association (ABI).

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