Things That You Never Expect: Refunds given by the Insurance Companies due to COVID-19

Today Americans are sitting at home and using their cars far less because of the COVID-19 pandemic. The largest car insurance providers have decided that they shouldn’t expect customers to pay regular rates when they don’t drive. That is the reason why many of them may provide a partial premium refund in order to help the insured to save a little bit of money in this difficult time.

Allstate, Geico and Liberty Mutual were the first insurers to offer refunds. 

Here is a list of all the auto insurers that have revealed cash or credit refund policies, and how much you can get back if you have a policy.

USAA

USAA customers with car insurance plans can earn a benefit of 20 percent for two months coverage. The business would also prohibit late fees and cancellations of non-payments.

State Farm

State Farm gives insurance premium credit of 25 per cent for the period from March 20 to May 31.

Allstate

Allstate customers can earn on average a cash or credit rebate of 15 percent on future transactions.

Progressive

Progressive gives a 20 per cent bonus to policyholders in April and May. The company would also waive late fees and cancelation of non-payment until May 15.

Liberty Mutual

For two months of their premiums, car owners who have a contract with Liberty Mutual or Safeco will receive a 15 per cent refund. Late payments and cancellations of non-payment are halted, too.

Farmer’s Insurance

Farmer’s Insurance decreases April rates by 25 percent and delays cancellations due to non-payment until May 1.

American Family Insurance

American Family Insurance offers a one-time, $50 bonus per car to drivers with a personal auto insurance policy. The total managing relief would be $100, the company said.