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Insurance after total

  • 17-07-2017 6:36pm
    #1
    Registered Users Posts: 379 ✭✭ ampleforth


    This is most certainly a silly question, but here we go.

    Car tax and car insurance, I believe, are mostly paid on a yearly basis in Ireland.

    What happens with either if I total the car after 3 months? Will the tax be reimbursed and the insurance policy be cancelled/moved to the next car without further deductions/fees on the money I already paid (I am not talking about the next contract, only about the existing one)?

    I am asking in general here --- obviously I assume that there are differences between insurance companies in the way things are handled. However, I am more interested in getter a general feel of how things run.

    Best, A.


Comments

  • Registered Users Posts: 621 ✭✭✭ Chiorino


    Depending on the terms and conditions of the policy (minimum premium, is it paid by dd) the insurers may refund part of the premium on some sort of pro rata basis.

    As far as I understand it, if a vehicle is permanently scrapped or exported, you can claim refund on any remaining tax , providing there is at least three months tax still remaining.


  • Closed Accounts Posts: 14,908 ✭✭✭✭ Liam McPoyle


    Chiorino wrote: »
    Depending on the terms and conditions of the policy (minimum premium, is it paid by dd) the insurers may refund part of the premium on some sort of pro rata basis.

    As far as I understand it, if a vehicle is permanently scrapped or exported, you can claim refund on any remaining tax , providing there is at least three months tax still remaining.

    If there is a claim on the policy that is paid no insurer will give a refund in the event of a cancellation.


  • Registered Users Posts: 8,616 ✭✭✭ grogi


    Rod Munch wrote: »
    If there is a claim on the policy that is paid no insurer will give a refund in the event of a cancellation.

    What about the consuming part of the insurance?

    Let's say I have my car insured for €10000. I claim €4000 for damage, the car is fixed and two month later the car is stolen.

    How much would be paid out? €6000 or €10000?


  • Closed Accounts Posts: 14,908 ✭✭✭✭ Liam McPoyle


    grogi wrote: »
    What about the consuming part of the insurance?

    Let's say I have my car insured for €10000. I claim €4000 for damage, the car is fixed and two month later the car is stolen.

    How much would be paid out? €6000 or €10000?

    Market value at the time of the accident.

    Chances are a €10k car that has had €4k worth of damage to it is not going to be worth near €10k.


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