Removal of named driver from insurance policy - entitled to refund?

Basq

Have heard mixed answers on this..

Have had a named driver on my insurance for the past number of years, but am removing them from my policy now - and it's not up for renewal til May.

Am I entitled to any sort of a refund, albeit small I'd imagine? It seems unlikely but am just curious, and did read mention of it elsewhere.

For Forks Sake

Basq wrote: »

Have heard mixed answers on this..

Have had a named driver on my insurance for the past number of years, but am removing them from my policy now - and it's not up for renewal til May.

Am I entitled to any sort of a refund, albeit small I'd imagine? It seems unlikely but am just curious, and did read mention of it elsewhere.

In many cases adding a named driver doesn't add any cost to the policy- in certain cases it may even reduce the cost- so I'm not sure you'd get any refund. Doubt it.

Basq

Yeah.. now that you mention it, I think it did reduce my policy.

Ah well!

padd b1975

I remember years ago my broker told me it would be cheaper with my wife as named driver than without, so may be a slight rise.

Best to give them a call.

Shane Fitz

padd b1975 wrote: »

I remember years ago my broker told me it would be cheaper with my wife as named driver than without, so may be a slight rise.

Best to give them a call.

I was the same. Carried an ex for 3 years as named because to remove would have bumped up my premium

Basq

Cheers all.. might give them a shout so and leave them on it if needs be.

Greenmachine

Even if adding the named driver increased the premium with 4 months left on the policy it would not change anything so much so that cancelling a policy so far into the year would not result in a refund either. Anything past seven months in most policy will likely lead to an actual increase in the policy. A number of insurers charge circa €40 for amendment on their policies.

bazz26

Removing the named driver might actually incur a rise in your premium as depending on the circumstances the insurance company could have treated the addition of a named driver as a lower risk and given an additional discount at the time.

On the other hand if it does mean a partial refund is due then I would imagine given the short space of time left on the policy and take into account the normal admin charge for altering the policy, you may end up with nothing back.

If it was me I'd just leave the named driver on the policy until the policy expires.

Basq

Yeah.. when renewal times come around, I'll give them a shout and ask them the proposed premium with that named driver removed.

wonski

Also when the refund / increase is less than 20 euro some insurers won't refund / charge the customer.