ATLANTA — There’s been a trend in the last couple weeks of insurance companies refunding millions of dollars to their policyholders due to the coronavirus pandemic.
The companies cited fewer claims as people are driving less because of stay-at-home orders issued around the country.
Here’s a list of companies refunding customers:
Farmers Insurance is reducing April auto premiums by 25%. A credit will be applied on policy holders next billing statement.
Auto-Owners Insurance announced Saturday that they will provide a 15% premium refund to personal automobile policy holders for the months of April and May.
Geico announced it will offer approximately $2.5 billion of credits to its 19 million auto and motorcycle policyholders whose policies come up for renewal this year between Tuesday and Oct. 7.
As part of our ongoing efforts to assist customers during this unprecedented time, GEICO is providing a 15 percent credit to auto and motorcycle customers as their policy comes up for renewal between April 8-Oct 7. Customers do not need to take any action to receive this credit.
— GEICO (@GEICO) April 7, 2020
Allstate announced it was returning more than $600 million in auto insurance premiums to customers. The company announced on its website that customers who own Allstate, Esurance and Encompass auto insurance policies will receive 15% of their monthly premiums in April and May.
We’ve been helping customers overcome unknowns for 89 years. And this year has been no exception. That’s why we’re doing more than ever to help customers in these challenging times. Find out more in the Allstate app or https://t.co/SfmQ8O5D0T. pic.twitter.com/EECxfwQSqR
— Allstate (@Allstate) April 6, 2020
American Family Insurance said it was refunding approximately $200 million to its customers. The typical American Family household with auto coverage has two vehicles, meaning the average relief check will be $100.
American Family Insurance will distribute a $50 premium relief payment to our customers for every personal automobile they have insured with us. It’s our way of encouraging you to keep going as we get through the COVID-19 pandemic together. https://t.co/q4ADYdWtrz pic.twitter.com/H2F4a7NWjc
— American Family Insurance (@amfam) April 7, 2020
Liberty Mutual announced refunds totaling about $250 million. Personal auto insurance customers will receive a 15% refund on two months of their auto premiums, as of April 7, 2020, pending regulatory approval.
Our top priority is the well-being of our customers, especially in times of uncertainty. That’s why we’re announcing the Personal Auto Customer Relief Refund, which will give customers a 15% refund on two months of auto premiums. https://t.co/OJSg27jQwX pic.twitter.com/x0ofnWUIyn
— Liberty Mutual (@LibertyMutual) April 8, 2020
USAA is returning $520 million to policyholders. The company said every member with an auto insurance policy in effect as of March 31 will receive a 20% credit on two months of premiums.
USAA to return $520M to members. Members will automatically receive a credit applied to their bill. There is no need to call and no additional action is required. Learn more at https://t.co/OeiljdEbSl pic.twitter.com/MtBhG9sWSo
— USAA (@USAA) April 8, 2020
Progressive announced its customers will receive a credit for 20% of their April and May premiums. This will happen automatically for customers.
All active personal auto customers will be automatically credited 20% of their April and May premiums. Learn more about what we’re doing to help our customers here.
— Progressive (@Progressive) April 9, 2020
Nationwide is offering a one-time premium refund of $50 per policy for personal auto policies active as of March 31, 2020.
As a result of the COVID-19 pandemic, we are providing a $50 premium refund to our personal auto customers. Refunds will automatically be credited to the customers’ most recent method of payment https://t.co/t1T74gA9sW pic.twitter.com/1Z70UNP4rW
— Nationwide (@Nationwide) April 9, 2020
State Farm says auto policies in force between March 20 and May 31 will receive on average a 25% policy credit.
Announcing the Good Neighbor Relief Program! Our customers with auto policies in force between March 20 and May 31 will receive on average a 25% policy credit (no policyholder action needed). Learn more: https://t.co/OUUrmf1AKU pic.twitter.com/KI5OnPX15W
— State Farm (@StateFarm) April 9, 2020
Travelers insurance says personal auto insurance customers will receive a 15% credit on April and May auto premiums.
Travelers announces Stay-at-Home Auto Premium Credit Program – personal auto insurance customers will receive a 15% credit on April and May auto premiums. pic.twitter.com/88YWduIcHS
— Travelers (@Travelers) April 8, 2020
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