Admiral has recently announced that it will be giving its customers a £25 refund because of the disruption caused by the COVID-19 pandemic.
Admiral is the first big U.K. motor insurance company to take such a decision.
It confirmed that Admiral would be giving back £110 million to its policyholders. This means £25 would be given to every van and car that the company has covered as of April 20, which equates to almost 4.4 million vehicles.
As per the reports, the money would be sent to the accounts of the customers directly by May end.
The chief executive of the U.K. insurance at Admiral, Cristina Nestares, said that they were utilizing the amount they otherwise would have spent on the claims to pay their customers back.
She added that this was an unprecedented time in which people all over the country were driving a lot less than prior to lockdown and they expected this to lead to a decrease in the number of claims they were seeing.
She said that they wanted to give the amount they would have utilized to pay claims back to their loyal customers in a difficult time.
She further added that they had reflected this change already in driving behavior in their pricing for customers and would continue to do so.
However, Admiral is pledging to aid the motorists in other ways too. It has promised another £80 million to help decrease its renewal quotes and prices, in particular for those who may possess larger premiums and younger drivers.
The giant has also promised to use the money to support the NHS staff.
While in another generous move to support NHS staff in the pandemic, Admiral has decided to waive extra fees for the emergency workers as well as offer them courtesy vehicles for free if they are forced out of the road after an accident.
Along with Admiral, Axa, Aviva, and the AA are also offering payment holidays for their customers. Hertz offered only £1 car rental to emergency staff to help them make it word amid the pandemic.
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