Should you get a refund on your insurance for Covid-19

Admiral insurance refund

Sometimes insurance companies do what people expect of them.  With COVID-19 is this good business and/or good corporate citizenship?

In a clever move the UK general insurance company Admiral is refunding all current vehicle policyholders the equivalent of nearly $50 Australian because the Coronavirus lockdown has reduced trips and crashes.

The company insures about 4.4 million cars and vans and the total amount given back will be 216 million Australian dollars. The refund is the same for every policyholder, even if you’ve had a crash in that year.

Such a move seems obvious, but insurance companies know that no one can be made to pay more retrospectively if there is a sudden increase in crashes. One hopes that those who get a refund will hesitate to complain if their travel insurance goes up.

Motoring Minutes are heard around Australia every day on over 50 radio channels through the Torque Radio networkMotoring Minutes have an average daily audience of over 150,000 listeners. Motoring Minutes are also broadcast as part of Overdrive Radio Program, which is broadcast through the Community Radio Network across Australia and has a weekly audience of over 450,000. 

About David Brown 585 Articles
David’s boyhood passion for motor cars did not immediately lead to a professional role in the motor industry. A qualified Civil Engineer he specialised in traffic engineering and transport planning. What followed were various positions including being seconded to a government think-tank for the planning of transport firstly in Sydney and then for the whole of NSW. After working with the NRMA and as a consultant he moved to being an independent writer and commentator on the broader areas of transport and the more specific areas of the cars we drive. His half hour motoring program “Overdrive” has been described as an “informed, humorous and irreverent look at motoring and transport from Australia and overseas”. It is heard on 22 stations across Australia. He does weekly interviews with several ABC radio stations and is also heard on commercial radio in Sydney. David has written for metropolitan and regional newspapers and has presented regular segments on metropolitan and regional television stations. David is also a contributor for AnyAuto