In April we let you know we were refunding the benefits of lower costs from fewer car claims during the COVID-19 lockdown period.
Trade Me Insurance is underwritten by Tower Insurance, who reviewed the costs of car claims over that time and can confirm we have a total of $7.2 Million to be shared between all Tower underwritten car customers.
Find out more about how and when the refund will be paid to you by checking out our Frequently Asked Questions below.
Bank details form
Need to provide us with your bank details? This link will take you to a secure online form.
About your refund
How much will my refund be?
Your refund is calculated based on a 45% reduction to the value of your car premium for the period 24 March 2020 to 13 May 2020. This is based on the lower car claims costs we saw during the COVID-19 lockdown period. All amounts include GST, but exclude fees, levies and the RoadWise® optional benefit.
If you have several eligible car policies for which you paid insurance premiums between 24 March and 13 May (inclusive), you’ll receive a refund for all policies.
The refund for each of your policies will show separately on your bank statement with the policy number as the payment reference, so you can easily see the refund amount for each policy. You can find the policy number on your latest renewal email or communication from us.
When will I receive my refund?
We've started to pay eligible customers their refunds. It will take a few weeks to fulfill for all our customers. You'll receive a confirmation email when your refund is ready to be paid.
How will my refund get paid to me?
We'll be making the payment by direct credit into your bank account.
If you already pay your premiums by direct debit from your bank account, you don't need to do anything - we'll make the payment directly into your bank account and we'll contact you to let you know.
If you pay via another method, you'll need to provide us with your bank details. Go to our secure online form and have your refund code handy. This will be in your car refund confirmation correspondence from us.
At Trade Me Insurance we are committed to protecting your privacy.