How does getting a portion of your auto insurance premium back sound? Well, you may be in luck. As millions of Americans stay at home and drive less due to the current COVID-19 pandemic shutdown, many of the nation’s auto insurance companies have agreed there is no reason to ask people to pay the normal rates when fewer people are driving. Many insurance companies are offering a partial premium refund to help their customers save some money during this challenging time.
Allstate announced it would return more than $600 million in insurance premiums to customers, offering a 15% refund on premiums for the months of April and May. Insurance giant Geico said policyholders will receive a 15% premium credit, similar to the one Allstate is offering.
USAA said members with auto insurance policies will get a 20% credit on two months of premiums totaling more than $520 million. Moreover, the company will be stopping non-payment cancellations, and simplify the process for setting up their payment arrangements.
American Family Insurance policy holders may be getting the largest credit of all the insurance companies. The company said they will return more than $200 million to policyholders, citing, “Customers are driving less, and we are experiencing fewer claims.” Policyholders will receive $50 per vehicle covered by one of its policies. The average refund check will be $100.
Finally, more insurance companies may follow these large companies in giving their policyholders credits on their bills. These companies are taking care of first responders and health care providers as well during this time, providing expedited roadside assistance, expanding coverage for personal auto customers who are temporarily delivering food or medicine, and providing full-service claims experience for first responders and health care workers who experience a car accident by providing transportation to work and expediting tow and vehicle repairs.
For your specific auto insurer’s COVID-19 response, contact your personal agent or visit the company’s webpage.
About Peninsula Auto Body
We live and work within the San Francisco Peninsula area. Our commitment to the community extends from helping our customers to helping our team members and right into the community itself. At Peninsula Auto Body, we are neighbors helping neighbors, especially after an automotive accident. From towing to filing claims to making sure you have transportation while we fix your vehicle, as your neighbor, we’ll help take care of you. We’re here in your time of need. If you have questions or comments, please contact us calling us at 650.588.0999. or visiting our webpage.
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