Some of you who have your car or van insurance with Churchill Insurance may be pleased to read that you may be getting a partial refund of your premiums. The reason for this is that the amount you pay for your cover is partially based upon the number of miles you estimate you will drive your car or van each year and those policyholders who are doing less miles behind the wheel of their cars or vans than originally estimated during the lockdown period caused by COVID-19 may apply for a reduction in the cost of their cover via the company’s website.
The reason why an insurance company is able to make such an offer to some of its car and van insurance policyholders is that it is likely to be paying out less in claims for road traffic accidents and the theft of cars and vans than it had forecast.
There is a form on the Churchill.com website that you can fill in to let them know that you are driving fewer miles than estimated.
For those policyholders qualifying for a refund that pay monthly for their car or van insurance, the amount to be refunded is going to be spread over the remaining monthly payments and for those that paid annually their refund will be via the policyholder’s bank account or card that was used to make the payment. It can take up to 30 days from receiving your request for the refund to be processed.
You will be notified by letter how much the refund is going to be.
This is a positive move by Churchill and it will be interesting to see how many other car and van insurance companies do a similar thing. We are also aware that Admiral and LV+ are making refunds for certain policyholders as mentioned in our previous post.
So, if you have your car or van insurance with Churchill and are driving less miles during the Coronavirus period than you originally estimated when applying for your cover, why not get in touch with them and see if you can save yourself some money that in the current economic climate will no doubt be most welcome.