Bell Insurance Gives Back Mini Rebate

Bell Insurance Gives Mini Rebate. Bell Car Insurance have just emailed their 4+ million customers and informed them, by thanking them for staying at home, of an upcoming discount which is being applied to all vehicles that are insured with them (Must have been insured with Bell on 20 April 2020). That's 4.4 Million vehicles. This discount is a one off rebate of £25 for every vehicle.

Given the fact that so many people pay their insurance in monthly instalments, and monthly payments are well within the £70 - £125 range for a huge percentage of drivers, a one-time £25 GBP discount isn't going to be a great help for most people.

Sure, it's always nice to get some money off, but the current circumstances require a discount with more impact. Something like, at the very least, £10 car insurance for one month for everyone. And the drivers who pay their premium off in one payment get a refund of one full month when the total paid for the year is split into approximately what the equivalent would be if they were paying monthly. That would have been a much more fair and sensible discount that people would have really noticed and appreciated.

But no, it's £25 off. However, if we take a look at the total amount Bell are giving back to their 4+ million customers, it does come to around £110 million, so its no small amount of money. But the total giveback numbers really puts into perspective just how much car insurance companies rake in each year. But that could change really fast in times such as these.

If this lockdown continues until late 2020, or even into 2021, and the economy stays the way it is now (basically shut down), its hard not to think that any discount offered is just prolonging the inevitable. Which is that soon a lot of car owners won't be able to afford to pay car insurance any more, resulting in fewer customers for car insurance companies.

Being furloughed isn't a permanent solution, and can only go on for so long. If the lockdown surpasses reasonable furlough limits, and employers just can't pay for their employees to wait-it-out any longer, this is when we could see another surge of people who will be forced to claim benefits, which will cripple the economy even further.

Let's hope it doesn't come to that. So, for now, if you're a Bell customer, enjoy your £25 discount. If you're not a Bell.co.uk customer have no fear, I believe the rest of the car insurance industry as a whole are following suit and will be giving some form of monetary relief to their customers in the very near future.