You are here: Home - Insurance - News -

Admiral to refund car and van insurance customers for staying at home

Written by:
Admiral will give money back to more than four million drivers because of the coronavirus crisis which has seen fewer cars on the road and claims recorded.

The insurance giant will give £25 back to each of its 4.4 million car and van insurance customers as a reward for following government advice and staying at home.

In total, it will refund £110m to customers whose vehicles were covered on 20 April 2020.

Customer’s don’t need to do anything to receive the Admiral Stay at Home refund as it will automatically be applied in the coming weeks, with an aim to have the money credited by the end of May. It will contact customers to explain how customers will get the payment.

Admiral said the refund reflects the fact that there are fewer cars on the road during lockdown and it expects fewer claims.

A post on its website read: “The refund and other initiatives pass on the savings from reduced claims we may otherwise have benefited from during the lockdown.

“It isn’t our intention to benefit from the lockdown and we’re returning our best estimate of the savings to our loyal customers.”

It comes as UK insurers were urged earlier this month to refund drivers unable to use their cars during lockdown as two insurance giants in America took the step to repay drivers some of their premiums, or offer a discount, because they’re stuck at home.

Last week insurer Aviva introduced a three-month payment deferral scheme for car and home insurance customers struggling financially as a result of coronavirus. However, customers would need to pay the difference through higher monthly premiums at a later point.

Mike Powell, car insurance expert at Defaqto, said: “If you’re struggling to pay your monthly premium for your car or home insurance, it’s essential you contact your insurance provider to discuss how it can help.

“Some providers are allowing customers to defer the payments and are offering a ‘payment holiday’. A number are including information on their websites about potential help, so it’s advisable to research the help available and contact your insurance provider as soon as possible.”

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Everything you need to know about being furloughed

Few people had heard of ‘furlough’ before March 2020, but the coronavirus pandemic thrust the idea of bein...

The savings accounts paying the most interest

If one of your jobs this month is to get your finances in order, moving your savings to a higher paying deal i...

Coronavirus and your finances: what help can you get in the second lockdown?

News and updates on everything to do with coronavirus and your personal finances.

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Money Tips of the Week

Read previous post:
pensioner income, new state pension
Financial wellbeing of British households plummets despite government support

British households say their finances are in the worst position since November 2011, despite government action to support people through...