I changed details on one of my cars insured with MiWay effective 1st May 2013. This dropped my premium from R1 296.99 TO R281.91. MiWay (Caroline) tells me that my refund will be about R300 since they had to deduct a prorata premium for 7 days (25th April 2013 to 1st May 2013) - I thought my premium was for the 1st to the last day of the month?
Anyway, even with a deduction 7 days prorata my refund should be R785.87, the prorata for 7 days should only be R292.87.
MiWay Please pay my refund in full.
If you are unable to calculate, please see below how this should be calculated:
Old Premium: R 1 296.99
7 Days Prorata Premium: R -292.87
New Premium: R -281.91
New Premium Prorata: R 63.66 (will not pay for the full month - customer only pays prorata for the month: R218.25)
Refund R 785.87
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