Car-owners, you might be in luck. A refund on your auto-insurance could
be in the works, due to the stay-at-home mandates caused by the coronavirus
pandemic.
According
to WWLTV, many national auto insurers have issued partial refunds on bills for April and May. Those companies who haven't yet issued refunds are
now considering it. A few auto-insurance companies have
recently announced possible refunds or reductions in premiums, while the rest
note that they, too, want to find a way to benefit their customers.
In the times of coronavirus and stay-at-home
orders, traveling by car has massively decreased—evident by simply looking out
at the empty streets. Rush hours have disappeared, and accidents have been greatly
reduced.
Below is a list of auto companies and their
refund policies, according to their websites. Of course, if your insurer is not
on the list, you might want to reach out, for they may be pushed to follow a
similar course.
Allstate:
"Shelter in Place Payback": a 15 percent refund based on the
monthly premiums for April and May. Allstate plans to deposit the money back
into your account or is willing to apply credit towards accounts.
Liberty
Mutual:
Fewer drivers means
fewer accidents on the road. Liberty Mutual is announcing its Personal Auto
Customer Relief Refund, which they expect will return around $250 million to
their personal auto insurance customers. See below for details:
·Personal auto insurance customers
will get a 15 percent refund on two months of their auto premiums, as of
April 7, 2020.
·The refunds will start in April
and will be given by check or via the method with which you made your most
recent payment.
·The refunds will occur
automatically.
USAA:
Members with an auto
insurance policy in effect as of March 31, 2020, will obtain a 20 percent credit
on two months of premiums within the next couple weeks. They plan to return
about $520 million and will do so automatically.
GEICO:
GEICO will be giving 15
percent credit to their auto and motorcycle customers on policies that are
up for renewal between April 8 and October 7, 2020. This credit can be used
with any new policies bought within this window. GEICO offers this credit as a
piece of their continuingplan to
facilitate customers during these unusual times.
Progressive:
Progressive Insurance
will begin refunds soon. Their company spokesman, Jeff Sibel, said in an
email, "We're also exploring how to best return some premiums to customers to
reflect the decreased exposure that comes with less frequent driving during the
pandemic and expect to have those plans in place soon."
State
Farm:
As according to the
AARP website, State Farm—the nation's largest auto insurer—will announce
plans later this week. In an emailed statement, an insurer noted that "with
schools and businesses closed and orders to shelter in our homes proliferating,
we know our auto insurance policyholders are driving much less than
anticipated."
Travelers:
Travelers
has announced a 15 percent credit for all customer bills for April and
May.
GoAuto:
The company recently put out this statement:
"Baton Rouge-based GoAuto Insurance announced
today that all current Louisiana automobile insurance policyholders would see a
reduction in monthly premium payments during the current pandemic. The rate
decrease, due to a reduced number of cars on roads leading to fewer automobile
accidents, will last through May 31 and may be extended if the Shelter in Place
order is continued. This announcement affects nearly 82,000 current Louisiana
customers, for a total reduction in savings of more than $4.2 million."
This will be valid for all existing Louisiana GoAuto
Insurance policies as of April 1. However, you must make a payment between
April 1 and April 30, as well as between May 1 and May 31, to obtain the
discount.
