Admiral is issuing £110m worth of refunds to its car and van insurance customers in response to the nation following government advice to stay home.
Admiral says it’s issuing the refunds in recognition of its customers’ decision to follow government advice to stay at home during the COVID-19 lockdown, resulting in fewer journeys by car and vans in the period.
The refund will be issued to each customer in the form of a £25 payment for each car or van insured on 20th April 2020.
Admiral says that its customers won’t need to take any action to receive the refund and that the company aims to issue refunds to all customers by the end of May.
The refund is being funded by a lower number of insurance claims as a result of fewer cars being on UK roads during the government lockdown.
The company has said via its website that “it isn’t our intention to benefit from the lockdown and we’re returning our best estimate of the savings to…customers.”
The move has prompted significant online media coverage for the insurer which, as at 3pm today (21st April 2020) is trending on Twitter with close to 20k tweets.