Auto Insurance Companies Handing Out Coronavirus Refunds
Several auto insurance companies are giving customers coronavirus refunds.
Geico is giving a 15% 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.
The average credit will be about $150 per auto policy and $30 per motorcycle policy. You can expect to see the credit when your policy renews. You do not need to take any action to receive this credit.
Allstate customers will receive 15% refund based on their monthly premium in April and May. Allstate will automatically deposit money back to the bank or credit card account used for payment, or apply credits to accounts, depending on customer preferences.
"As we all work together to slow the spread of COVID-19, more of us are at home and driving less, which means having fewer accidents," said Allstate CEO Tom Wilson. "Given this decline in driving, we are announcing the Allstate Shelter-in-Place Payback of more than $600 million in April and May for our auto insurance customers."
You can get payment faster through the Allstate Mobile App. Free identity protection is also being provided for the rest of the year.
American Family Insurance is helping customers with a one-time, $50.00 payment for each vehicle insured under a personal auto insurance policy.
At the end of April, active policy holders will receive a 20% credit for your April premium. Progressive will offer the same 20% credit to active personal auto customers at the end of May, and there may be additional credits in the upcoming months.
There’s nothing you need to do. The credit will automatically be reflected in your account within a few weeks. If you have a balance on your policy, the credit will be directly applied to your remaining balance. If you’re already paid in full, the money will be returned to your account.
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