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Many Car Insurance Companies Are Now Offering Discounts During COVID-19 Outbreak
With people staying home and driving much less amid the COVID-19 pandemic, car insurance companies around the country are offering discounts and refunds for people. Here is an overview of some of the most popular companies and what measures they are taking to protect their customers:
Progressive is giving customers a 20% credit for active auto policies at the end of April and at the end of May. They will automatically calculate the credit at the end of each month.
They will also waive all late fees, pause collections and hold off on canceling or non-renewing any active policies due to non-payment through May 15.
State Farm said it is returning $2 billion in dividends to auto insurance customers. On average, customers will see a 25% policy credit.
Allstate announced a shelter-in-place payback of more than $600 million in April and May.
On average, customers will see 15% back, and Allstate will automatically deposit the money to the bank or credit card account or apply credits to future accounts.
Geico said it is giving customers 15% credit for the next full policy terms. Current policyholders can expect to see the credit when their policy renews. You do not need to take any action to receive this credit, Geico will take care of everything for you.
Esurance is giving a 15% payback during April and May, electronically to the last method of payment used on the account. If they can’t refund electronically, they will send a check. You just have to have an active auto insurance policy and be up to date on payments.
Farmers Insurance is reducing April premiums by 25% and also pausing cancellations due to non-payment through May 1.
Travelers Insurance is giving customers a 15% credit on April and May premium and suspending cancellations through May 15.
American Family Insurance is providing customers a one-time, $50 payment for each vehicle insurance under a personal auto insurance policy.
And as previously reported by All About Arizona News, USAA is also reporting a 20% credit to customers.