# Car Insurance refund-Calculations.



## IsleOfMan (31 May 2005)

My youngest son paid circa €3300 for his car insurance this current year based on the fact that he was 23 years of age and on a provisional licence. His car was valued at €6000. After 9 months in to his insurance he passed his driving test and notified the insurance company of same (Quinn Direct). They are offering just circa €300 of a refund. Has anyone any idea how this sum is calculated as it seems a bit small.


----------



## contemporary (31 May 2005)

it seems normal tbh, if he had a full licence at the start of his policy his insurance would have been €2100 based on him getting €300 for the 3 months. ARAIK 2100 is "the norm" for someone his age for insurance. However its so hard to gauge with all the factors that are involved

/edit: my brother: 24, full licence, No NCB, 1.0L Micra, Insurance quote 2238 with www.123.ie


----------



## jhegarty (31 May 2005)

IsleOfMan said:
			
		

> My youngest son paid circa €3300 for his car insurance this current year based on the fact that he was 23 years of age and on a provisional licence. His car was valued at €6000. After 9 months in to his insurance he passed his driving test and notified the insurance company of same (Quinn Direct). They are offering just circa €300 of a refund. Has anyone any idea how this sum is calculated as it seems a bit small.



getting the test makes up far less of the policy than they make out..... its all about age and ncb....


----------



## Cahir (31 May 2005)

I passed my test when I was with Quinn Direct a few years ago and got back roughly 10%.


----------



## IsleOfMan (31 May 2005)

Ummmm! It's all a bit vague though isn't it?  A simple breakdown of his insurance costs would have been a help. Of the original €3300 how much was age based, how much was provisional based etc. I mean they must have these figures available to arrive at a total.
Why not itemise them?
Incidentally he has just purchased a new 05 car and Quinn are now looking for €2700 from him and wait for it - a service charge of €180- for opting to pay his insurance on a monthly basis on top of the €2700. They have given him two days to come up with the deposit but still haven't refunded him his €300 from his last car for getting his full licence. Apparently these things "take time".


----------



## CCOVICH (31 May 2005)

IsleOfMan said:
			
		

> Ummmm! It's all a bit vague though isn't it? A simple breakdown of his insurance costs would have been a help. Of the original €3300 how much was age based, how much was provisional based etc. I mean they must have these figures available to arrive at a total.
> Why not itemise them?
> Incidentally he has just purchased a new 05 car and Quinn are now looking for €2700 from him and wait for it - a service charge of €180- for opting to pay his insurance on a monthly basis on top of the €2700. They have given him two days to come up with the deposit but still haven't refunded him his €300 from his last car for getting his full licence. Apparently these things "take time".



This isn't really a service charge, more of a finance cost of approximately 7-8% for spreading the cost over 12 months.  I think it's fair enough (I pay it) as I don't fancy forking over nearly €2k every September, and it is comparable to the more competitive personal loan rates on the market, and is lower than overdraft or cc rates.


----------



## Joe1234 (1 Jun 2005)

I was told that I would get no insurance refund when I passed the test.  The test would need to have been at least 3 months before the insurance renewal date.  My insurance was up a month after I passed the test.


----------



## IsleOfMan (1 Jun 2005)

This seems very unfair. I would have thought that you were entitled to 1/12 of a refund of the risk insurance that you had been loaded. What insurance company was this? Maybe a letter to the Insurance Ombudsman should clarify the situation.
Q.
Does anyone know if Quinn Direct will give a discount on car insurance if you have two cars insured with them ?


----------



## Joe1234 (1 Jun 2005)

Park Lane,

It does seem unfair.  We are insured by Allianz, but it was the insurance broker who told me about the 3 month "rule".


----------



## IsleOfMan (1 Jun 2005)

I would double check what your broker has told you directly with Allianz.


----------

