This petition was submitted during the 2010-2015 parliament
Rejected petition Motor Insurance - GET 100% OF YOUR POLICY COST BACK AFTER 1 YEAR OF NO CLAIM
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Why do car insurance companies keep your policy money if you do not claim?
To drive is a risky business and I am sure somebody who works in the insurance sector has to calculate a mystical and top secret formulae to work out how much one pays per year, or indeed what the risk is.
If you do not claim on your policy you should be fully refunded your money for example:
POLICY / RISK = £2000 ADMIN COST £150
END OF YEAR REFUND (NO CLAIMS) = £2000
END OF YEAR REFUND (CLAIM) = £0
Why should you pay for other peoples mistakes.
This petition was rejected
Why was this petition rejected?
It’s about something that the UK Government or Parliament is not directly responsible for.
Your e-petition does not state what action you wish the Government to take. I should point out, however, that the insurance industry uses premiums from people who do not claim to pay the claims of those who do; so a call to change the law to produce the refunds you mention would radically change the whole nature of the insurance business.
We only reject petitions that don’t meet the petition standards.