Top Insurers Refund Portion of Auto Premiums Amidst COVID-19

Now, when the traffic blocks are just a ‘memory,’ and with fewer people driving, major U.S. insurers are returning a part of the premium to automobiles. Let the Americans stay at home and reduce the spread of novel coronavirus.

The insurance companies have come forward to help out their customers as there is a vast reduction in accidents. The major companies and the amount they have offered to return premiums are :

ALLSTATE CORP
The company is willing to return $600 million in April and May, announcing their project ‘Shelter-in-Place Payback.’ Customers will receive a 15% payback of their monthly premium in these two months.

Watch: How Does COVID-19 affect Automotive Insurance sector?

ERIE INSURANCE
Company reduced rates in 12 states and is ready to provide $200 million.

USAA
Announced it will return $520 million to members and will receive a 20% credit on two months.

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Nationwide
They offer a one-time premium refund of $50 per policy. The company automatically will credit to customer’s next payment.

American Automotives to Reopen
American Automotives to Reopen

Esurance
The company is giving consumers a 15% refund on April and May through payment or paper check.

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