AA Insurance rebates $19m to motoring customers
AA Insurance has said that it has begun issuing $19.5 million in rebates to customers because of the reduced likelihood of motor insurance claims during the COVID-19 lockdown period.
The premium rebates were announced in April. Every eligible customer will be refunded a portion of the motor premiums they paid during the Alert Level 3 and 4 lockdowns.
CEO, Chris Curtin, says that in extraordinary times such as the COVID-19 pandemic, AA Insurance needed to do more to support its customers.
For most customers, the rebate will equate to around 42 per cent of their motor policy premium paid between 24 March and 13 May 2020. For customers with comprehensive motor policy, most will receive a rebate of about $40 (inc GST). AA Insurance is providing rebates for over 400,000 customers.
AA Insurance expects to contact all customers directly– either by email or post - and issue the majority of rebates by the end of September.