If my car is stolen or written off in an accident, do I have to keep paying my instalments?

If we pay you for the loss of your vehicle under the terms of the policy, the full annual premium is payable. You will have received the full benefits payable under the relevant section of the policy and the policy must be paid for in full.

If you have paid your full annual premium in advance, you will not receive a partial refund. If you agreed to pay by instalments, you must continue to pay the monthly instalments until the policy is fully paid. If you default on an instalment, the balance of the premium becomes payable immediately.

We do allow you to substitute a vehicle on to your policy in place of the vehicle that is lost or written off for the remaining period of the policy, provided that you do so within a short period of being paid. An additional premium may be payable based upon the age, specification and value of the replacement vehicle.