Auto Insurance Companies Offering Coronavirus Relief, What To Expect

Liberty Mutual Coronavirus Relief CharmPosh

Auto insurance companies are now stepping up their game and offering Coronavirus, COVID-19 relief to customers.

Many auto insurance companies recently announced plans to refund monthly premium payments, occurring during the Coronavirus outbreak because of social distancing stay-at-home restrictions.

There are fewer cars on the road and insurance companies can’t exactly justify the cost of collecting regular monthly premium payments at the moment.

Several large auto insurance companies are giving refunds and credits because of the Coronavirus outbreak.

Auto-Insurance-Companies-Offering-Coronavirus-Relief-CharmPosh

Here is a list of amazing insurance companies giving back to support their customers by offering Coronavirus relief.

Allstate

Shelter-in-Place Payback of more than $600 million with paybacks occurring during the months of April and May for auto insurance customers.

On average, personal auto insurance customers will receive 15 percent money back based on their monthly premium in April and May.

Geico

Providing a 15 percent credit to auto and motorcycle policyholders as policies come up for renewal between April 8 and October 7, 2020.

The credit will also apply to any new policies purchased during this period. The credit is part of the ongoing efforts to assist policyholders during this unprecedented time. Benefits to 18 million auto and one million motorcycle policyholders to be approximately $2.5 billion.

Liberty Mutual

Personal Auto Customer Relief Refund, which will return approximately $250 million to its customers.

Personal auto insurance customers will receive a 15% refund on two months of their auto premium, based on your premium amount as of April 7, 2020.

American Family Insurance

Auto Insurance Premium Relief Payments will help customers by providing a one-time, $50.00 payment for each vehicle insured under a personal auto insurance policy.

The typical American Family household with auto coverage has two vehicles, meaning the average relief check will be $100. Overall, American Family Insurance will return approximately $200 million to its auto insurance customers.

21st Century Insurance

Will temporarily pause policy cancellations due to non-payment through May 1, 2020.

Farmers® and 21st Century® branded auto customers will receive a 25% reduction in April premium to reflect the changing driving environment resulting from various stay-at-home guidelines issued across the country.

USAA

Every member with an auto insurance policy in effect as of March 31, 2020, will receive a 20% credit on two months of premiums in the coming weeks.

Expanded auto insurance coverage for members who use their personal vehicles to deliver food, medicine, and other goods for commercial purposes. USAA is the country’s fifth-largest property-casualty insurer, will be returning $520 million to its members.

Nationwide

A one-time premium refund of $50 per policy for personal auto policies active as of March 31, 2020. To provide support for impacted communities, the Nationwide Foundation made $5 million in contributions to local and national charities to support pandemic response efforts.

The refund will arrive in the next 30 days, subject to individual state regulatory approval. It will be returned to customers in the last form of payment they have made, whether electronic or paper. The refund is equivalent to an average savings of 15 percent for two months and is on top of existing discounts customers already earn.

Travelers

Providing billing relief for all U.S. customers, including suspending cancellation and nonrenewal of coverage due to nonpayment through May 15, 2020 (no interest, late fees or penalties will be charged).

Giving U.S. personal auto insurance customers a 15% credit on their April and May premiums. Pledging $5 million to COVID-19 relief efforts to assist families and communities across North America, the United Kingdom and the Republic of Ireland.

Progressive

If you have an active personal auto policy at the end of April, you’ll receive a credit for 20% of your April premium. Plus the same 20% credit to active personal auto customers at the end of May, and we may offer additional credits in the upcoming months.

Funded an $8 million donation by the Progressive Foundation. This donation will go to charities focused on hunger, health, and homelessness, including Feeding America.

Don’t worry if your insurance company is not yet on the lists, try picking up the phone and giving them a call to lower your monthly premium today.

Social distancing and staying home makes you a low risk. Express this to your insurance company if they haven’t reduced your monthly premium yet because of the Coronavirus outbreak.

Good luck!  

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