Is It Reasonable to Ask for a Comprehensive Insurance Discount Due to Covid/Lockdown?

IPYF on 10/09/2020 - 13:25

My comprehensive is due, and I want to retain it (that's not in question, I like my car) but I've barely driven all year and given lockdown and the unlikelyhood of a physical return to work this year for me or my wife, it's unlikely that we'll be taking the car anywhere further than one or two blocks (to ensure that it gets some short runs) for the foreseeable.

Is it reasonable/has anyone had any success discussing a better rate with insurers due to Covid? While I'm sure like any business they're going to be unwilling to cut their lunch it seems totally illogical to pay the same price as you normally would given circumstances.

Automotive

Comments

  • jimbobaus on 10/09/2020 - 13:26

    Depends on the insurer
    Some have a product where the car remains insured but can not be driven at all.

    I rang my insurer recently and they were not willing to reduce the premium due to COVID but saying that my increase on last year was $25 so i was not to upset.

  • PissLUR on 10/09/2020 - 13:28
    +2

    yes. you can always ask for reduction/discount.

  • netjock on 10/09/2020 - 13:36
    +1

    You would rightly be pissed off that only insurance companies and banks are the ones not taking any losses to income during COVID19.

    • whooah1979 on 10/09/2020 - 23:33
      +1

      Don't get pissed off. Buy stock in those companies and make a profit.

      • netjock on 11/09/2020 - 09:51

        True.

        But you look at the share price charts of QBE, IAG, SunCorp. All trading stocks rather than long term buy and hold.

        Banks it was good during the last 20 years run up but now cut dividends and likely we're going to have zero interest rates for a long time, plus no growth in the economy and shrinking in lending might not be a good idea.

        Have a small position in ANZ and been a dog for a long time.

  • brendanm on 10/09/2020 - 13:36
    +10

    You can ask them to make you an ice-cream sandwich if you want. Doesn't mean you'll get one.

    • jjjaar on 10/09/2020 - 16:28
      +1

      Can you make me an ice cream sandwich?

      • brendanm on 10/09/2020 - 16:41
        +2

        I'd love to, however it would be a disgusting soggy mess by the time it got down to you :(

        • jjjaar on 10/09/2020 - 17:50
          +2

          I appreciate that you wouldn’t have tried to eat it. Cheers!

  • Seraphin7 on 10/09/2020 - 13:38
    +8

    Is It Reasonable to Ask for a Comprehensive Insurance Discount Due to Covid/Lockdown?

    Yes.

    Is It Reasonable for your insurer to decline your request?

    Yes.

    Might they accept your request?

    Yes.

  • JIMB0 on 10/09/2020 - 13:39
    +1

    QBE were giving away gift cards to existing policy holders as a form of refund.

    • DashCam AKA Rolts on 10/09/2020 - 13:45

      Can confirm, we have two vehicles comprehensively insured with them and were offered a $50 gift voucher for each car policy.

  • JimmyF on 10/09/2020 - 13:55
    +1

    Is It Reasonable to Ask for a Comprehensive Insurance Discount Due to Covid/Lockdown?

    Reasonable to ask, its also reasonable for them to refuse.

    You are paying the year 'ahead', so who knows how much driving you will be doing in 6 months time!

    • EightImmortals on 10/09/2020 - 16:49
      +2

      Not much if he lives in Melbourne.

      • JimmyF on 10/09/2020 - 17:25
        +1

        They can drive to the supermarket each day :)

  • GG57 on 10/09/2020 - 14:12
    +1

    At least one insurer (youi) was advertising this, for existing and new customers.
    As others have said, your existing insurer may not entertain the request, but nothing to stop you shopping around to get a better deal.

  • ozhunter on 10/09/2020 - 14:13

    Why not switch to one of those companies where the amount you pay is based on how much you drive?

    • jimbobaus on 10/09/2020 - 14:15

      because those policies can not pay if you exceed your agreed KMS for any reason

      • brendanm on 10/09/2020 - 16:42

        Not sure about others, but at least with Woolworths if you go over the distance you can pay more, or if you just let it go, it's an added $1000 excess.

  • jimbobaus on 10/09/2020 - 14:14
    +1

    OK… so after seeing this post
    i called my insurer (Shannons) and asked for a discount on my renewal.
    previously they only offered me a do not drive your car policy, this time they reduced my policy by $150
    i do still drive it though as i am still going to work 2 days a week at the moment.

  • Headless on 10/09/2020 - 14:51
    +1

    Explain you are doing your due dilligence and looking at renewing your insurance, considering competition and lack of car use, what can they do. - done!

    Don't feel sad for insurance companies, they earn quite alot.

  • Melb69 on 10/09/2020 - 15:33

    You i are giving credit back each month for a period which was extended.

  • sagrules on 10/09/2020 - 15:34

    Switch insurers, there is a good offer from CUA - take a look if that works for you

  • [Deactivated] on 23/09/2020 - 16:46

    Hey op did you get anywhere with this?

    I am with Bingle comprehensive and up for a renew. Bingle says they are only renewing premium for people who lost jobs/money due to covid.

    Any other insurance suggestion?

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