You have probably heard by now in the news that various auto insurance companies are giving policyholders refunds and relief due to the COVID-19 spread. Sheltering in home has led to a lot of people driving much less than they typically do. Fewer drivers on the road mean fewer accidents.
Iscential has complied a list updated 4/9/20 of auto insurance companies participating in relief. Iscential represents many of these insurance companies and is glad to see the action these companies are taking to help their policyholders.
Check out the list below!
Here is a list of the large insurance companies we know are giving back to customers on personal auto insurance policies and how much they’re offering.
Allstate: 15 percent debit or credit payback on April and May premiums
American Family: $50 per vehicle insured
Chubb: 25 percent for customers renewing between April 1 and August 1
Chubb commercial: 15 percent reduction for commercial auto policies. Chubb has committed $1M in gift cards to support our small business food service and restaurant clients. We will be purchasing gift cards from our restaurant and food service clients and distributing them to Doctors, Nurses, Police, Fire and EMT workers.
Farmers/21st Century: 25 percent reduction in April premium
Geico: 15 percent credit on renewal between April 8 and Oct. 7; pausing cancellations for non-payment through April
The Hartford: 15 percent credit on April and May premiums
Liberty Mutual: 15 percent refund on two months of premiums
Mercury Insurance: 15 percent credit on April and May premiums
Nationwide: $50 refund per policy
Progressive: 20 percent credit on April and May premiums
Safeco: 15 percent refund on two months of premiums
Safeco & Liberty Mutual: Have donated $1,000,000 in emergency community grants. See the story here.
State Farm: 25 percent credit on premiums from March 20 through May 31
Travelers: 15 percent credit
USAA: 20 percent credit on two months of premiums
If you don’t see your auto insurance company, keep an eye out for them to make an announcement. Allstate was the first insurance company to start and now many others have followed their lead.