hi guys, just wondering if its common practice for insurance companies to deduct your remaining premium from your final pay out if your car was stolen?
my car was stolen, i have a 1 year contract which i pay monthly and i was halfway through my '12 months' so they deducted the remaining 6 months still to run on my contract from my final pay out. even though i obviously never used it as car was stolen. Just wondering if this is common practice?
cheers.
jmma,
Sep 19, 4:56pm
This is a quote from another thread (o:
alibobo,
Sep 19, 5:45pm
oh cool thanks for that.
dinx,
Jun 2, 2:12pm
Yes, but some also have a practice that if you reinsure replacement vehicle they will credit that outstanding amount towards your new policy. But you need to ask or they won't do it automatically, vero does anyhow. Someone I know had 11 months recently deducted from their settlement as policy had only just renewed before accident.
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