Revising Car Insurance Policy?

[heisenberg]

I was wondering, is it possible to revise your insurance policy mid year and receive cash back?

I've paid for a full years insurance but lets say I've moved address to somewhere that would have cheaper insurance or after a birthday as insurance is normally cheaper the older you are. Would I be intitled to cash back if I phoned them up to review my policy or will I have to wait until this years policy runs out?

Thanks.

 

[shesells]

I got my premium reduced when I passed my test mid-policy. They just reduced the direct debit amount. Not sure if they'd have refunded me if I'd paid in full. Not sure who the insurer was at the time, I've moved around a lot to get best price.

 

[peteb]

Most insurers will give you money back if you pass your test - not all! When you change address if its a lower rated address they will refund during the year, because if you went to a higher rated area they would charge you too!

But your birthday? Are you for real?

 

[heisenberg]

But your birthday? Are you for real?

Yes. I recently turned 25 and it is well known that insurers are much more lenient on insurance premiums once you hit that age. Why do you find it so hard to believe?

 

[becky]

If you're towards the end of your policy, you may not get anything as they often charge an admin fee which may cancel out the refund.

I would guess you will get nothing for a change of address, not sure about a birthday as they know your age.

I changed from a 11 year 2.0 to a 3 year old 1.3 and got €50 refund.

 

[Mrs Vimes]

I suppose if you had a birthday which wasn't forseen when you took out the policy

 

[peteb]

Yes. I recently turned 25 and it is well known that insurers are much more lenient on insurance premiums once you hit that age. Why do you find it so hard to believe?

i meant it in the sense of are you taking the mickey! And im quite familiar with the industry. thank you.

 

[Leo]

Yes. I recently turned 25 and it is well known that insurers are much more lenient on insurance premiums once you hit that age. Why do you find it so hard to believe?

Assuming you gave them the correct date of birth when you took out the policy , they have already taken that into account.

 

[heisenberg]

i meant it in the sense of are you taking the mickey! And im quite familiar with the industry. thank you.

I don't think you are to be honest. I got an online quote from my insurer during the week just to check how much my insurance will cost next time I renew and it is a good deal cheaper when I put my age in as 25 as opposed to 24. It's not beyond reason to hope for a discount once you reach the age of 25.

Assuming you gave them the correct date of birth when you took out the policy , they have already taken that into account.

I would have assumed that they just take account of the current age when applying for insurance? I was 24 when renewing so would they not just apply that age for the whole term?

 

[peteb]

I don't think you are to be honest. I got an online quote from my insurer during the week just to check how much my insurance will cost next time I renew and it is a good deal cheaper when I put my age in as 25 as opposed to 24. It's not beyond reason to hope for a discount once you reach the age of 25.



I would have assumed that they just take account of the current age when applying for insurance? I was 24 when renewing so would they not just apply that age for the whole term?

they take account of your age at inception of the policy. There is no consideration of your "new age" until the next renewal date as it is not a material fact after inception of your policy. Your change of address or vehicle is!