Refunding insurance premium when selling car [Axa]

snappieT · 27-09-2009 11:10am #1

Hi all,
Renewed insurance on CarA a month ago for a full year, however I've recently upgraded to CarB. While Axa were competitive for CarA, their price for CarB is substantially more, and is easily beaten by their competition.

Is it possible to get the remainder of the premium paid on CarA back from them, does anyone know?

Many thanks,
Steve

Eoin · 27-09-2009 11:13am

Yes, I think so - but I also think you will lose this year's NCB.

snappieT · 27-09-2009 11:20am

That's fine, I'm only a month into the year anyway, and will be switching to a different insurer anyway, and continue getting NCBs from them. I assume I can transfer my previous two years NCB from Axa to another insurer?

Also, the insurance was transferred over to CarB already (time constraints), and the additional premium is 'due', but not yet paid. I hope this doesn't affect my refund chances :P

Eoin · 27-09-2009 11:22am

I assume I can transfer my previous two years NCB from Axa to another insurer?

They should have sent you your NCB cert with your renewal, so just send that along to the new company.

snappieT · 27-09-2009 11:24am

Perfect thanks. Found the appropriate part of the Axa website since I asked (despite looking before):

Axa.ie wrote:

23. Can I cancel my policy at any time?
[...]
However, if you cancel in your second or subsequent year, we will give you a proportionate refund (for example, cancellation after 6 months would see a refund of 50% of your premium).

Thanks for your help.

sogood · 27-09-2009 8:54pm

Best of luck with your refund. You will get it, but when.........................
I had a similar experience some years back, cancelled a policy and sought a refund. returned all relevant paperwork and waited, and waited and waited. After ringing them to query the delay, I was told that a wait of 90 days was the norm!!!! They got the premium from me, up front, in minutes and it was going to take 3 MONTHS to get a refund. remember, this was when the country was awash with money, unlike now, when certain large companies are a bit slow in paying up. I put up with the 3 month wait and still no refund, so after repeated and persistent phone calls, it finally arrived, almost 4 months after the cancellation! I hardly think they would have waited 4 months for my premium.

Refunding insurance premium when selling car [Axa]

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