Car insurance company refunds customers due to lockdown

Admiral is giving all its car and van insurance customers a £25 refund by the end of May. The move reflects the fact that lockdown should mean fewer claims.

Insurance refunds

Admiral is giving its car and van insurance customers a £25 refund. It’s in recognition of the fact that customers are staying at home and driving less during the lockdown.

The company expects this to result in fewer insurance claims.

Last week, we reported that the average car insurance premium has hit £755. This was countered by the potential for cheaper premiums in the second half of the year. Admiral is the first company to act.

The company says the refund – which will be automatically credited to customers by the end of May – will affect 4.4 million vehicles. It’ll cost Admiral £110 million – a third of its 2019 profits. In what could be a lesson for other providers, it says it is passing on ‘the savings from reduced claims the company may otherwise have benefited from during the lockdown’.

In addition to the refund, Admiral is waiving any excess fees for NHS or emergency workers. It’s also guaranteeing cover for customers using their vehicle to transport people, deliver medical supplies and equipment, or items to people who are self-isolating.

‘Give something back’

Ambulance driver

Cristina Nestares, CEO of UK insurance at Admiral said: “During this challenging period, our main priorities have been helping our customers, supporting our local community and protecting the wellbeing of our staff, which is why we have introduced these initiatives to give something back to the customers and communities we serve.

“This is an unprecedented time when people across the country are driving significantly less than before the lockdown, and we expect this to lead to a fall in the number of claims we are seeing. We want to give the money we would have used to pay these claims back to our loyal customers in this difficult time. We have also already reflected this change in driving behaviour in our pricing for customers and will continue to do so.

“There may be fewer cars on the roads at the moment, but for many NHS and emergency services workers their cars are vital for them to get to work. At the best of times it’s stressful if you’re involved in an accident, so we’ve implemented new measures to take some of the pressure off and ensure they can stay on the road.

“We wanted to show our support for NHS workers in all roles; from doctors and nurses to admin teams and cleaners, they are all doing a brilliant job of helping to save lives and keep the NHS running smoothly during this crisis.”

Click here for more information on the Stay at Home Refund.

Related Articles

Gavin Braithwaite-Smith
Gavin Braithwaite-Smithhttp://www.petrolblog.com
Writer with a penchant for #FrenchTat. Owns 15 vehicles of varying degrees of terribleness. Also doing a passable impression of Cousin Eddie in an Italian-German beige motorhome. Doesn't get out much.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Mercedes-Benz has built the first fully electric Popemobile

A bespoke version of the Mercedes-Benz G580 EV, the brand new Popemobile has now been delivered to Pope Francis.

F1’s Valtteri Bottas tests new Alfa Romeo 33 Stradale supercar

The Formula One superstar took to Balocco Proving Ground to hone the exotic 33 Stradale's handling before the final sign-off.

New electric conversion kit turns classic Mazda MX-5 into an EV

Electrogenic has launched a new conversion kit to electrify the Mazda MX-5 roadster, offering more power and a modest 100kg weight increase.

New electric Ford Puma Gen-E prices start from under £30,000

Joining the Ford Puma lineup alongside hybrid petrol versions, the new electric Gen-E has a range of up to 233 miles when fully charged.