Yes, You Can Have Your Unused Travel Insurance Premium Back, Says Zurich

Yes, You Can Have Your Unused Travel Insurance Premium Back, Says Zurich

It’s been a frustrating time for those who booked holidays between March and July this year, with many people in the UK discovering that their holiday had been canceled. For those customers who paid travel insurance upfront, there was a further potential loss of premium paid, for a service they didn’t use. Here’s the latest from Zurich who are refunding those premiums;

Throughout recent weeks, Zurich has been working on finding a system that would allow us to return policyholders’ travel insurance premiums. We’re pleased to say that we have now been able to work through those technicalities, so are announcing the following steps:

We are in the process of offering a refund or rescheduling cover for every single trip policyholder (8,000 customers) who were been unable to travel during the lockdown. For customers who had trips arranged between 12 March and June and who couldn’t travel, we’re offering a full premium refund as they haven’t been able to make use of their travel insurance. This is for those customers to didn’t, or weren’t able to make, a successful claim

Those single trip customers who are yet to travel, are being offered the choice as to how to proceed. If they already know that they’re not going to travel, they can receive a full premium refund, or if they are agreeing a rescheduled trip with their travel operator, we will simply move the insurance policy dates to align with their new trip dates, up to 13 months from their original trip date.

For annual multi-trip policy customers, we will also ensure they get a fair deal by offering a pro-rata refund for the months they were unable to travel during lockdown – this will benefit approximately another 2000 customers. Taken together this means we are in the process of returning around £300,000 to customers for a service they didn’t use when the national lockdown turned all of our plans and holiday bookings on their heads.

Phil Ost, a travel insurance expert from Zurich, said, “Travel insurance is designed to protect you whilst you’re on holiday, so with an inability to travel due to the national lockdown, it only feels fair to reimburse premiums to customers who didn’t travel. We’re also giving flexibility for those due to travel by changing the policy dates to tie in with their new arrangements. Ultimately, they did the right thing protecting themselves from when the unfortunate happens, so now it’s our turn as an insurer to do the right thing and pay them back for a service they couldn’t use.”

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Pen Underwriting Sets Out Ambitious Plan for Growth

Pen Underwriting Sets Out Ambitious Plan for Growth

lloyds general medical international insurance brokers

Lloyd’s Of London Sets Out Pandemic & Black Swan Insurance Roadmap