Car Insurance refund-Calculations.

I

IsleOfMan

Registered User
Messages
923
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.
 
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
 

getting the test makes up far less of the policy than they make out..... its all about age and ncb....
 
I passed my test when I was with Quinn Direct a few years ago and got back roughly 10%.
 
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.
 
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.
 
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 ?
 
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".
 
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