Car Insurance Companies are Offering Discounts During Coronavirus Pandemic

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We shared our tip the other day about contacting your insurance company about changing your policy to save money since you aren’t driving every day. Looks like many companies are stepping up to offer policyholders this discount automatically!

With less traffic on the road, there have been fewer accidents and fewer car insurance claims. And the prospect of paying claims is what auto insurance bases their rates on. There are a few insurance companies that have stepped up to offer their customers refunds. More will likely follow.

Here are the companies we know of…

Allstate:

  • On average, personal auto insurance customers will receive 15 percent money back 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. Please check your payment information to make sure it is up to date.
  • Customers can get payment faster through the Allstate Mobile App. And, since our lives have become more digital, we are providing free identity protection for the rest of the year, also through the App.

Learn more here >>


American Family Insurance:

  • American Family Insurance will give a one-time $50 payment for each vehicle insured with them in response to the COVID-19 pandemic.
  • The company says that customers who have a private passenger policy in force as of March 20, 2020, will be eligible for the refund. Customers who have Classic and Advance policies are also eligible.
  • If you’re having financial difficulty making your premium payments, American Family recommends you contact them directly at 1-800-MYAMFAM.


Safeco Auto Insurance

  • Personal auto insurance customers will receive a 15% refund on two months of their auto premiums, as of April 7, 2020, pending regulatory approval.
  • The refunds will begin in April and will be issued either by check or in the manner you made your most recent payment.
  • The payments will happen automatically, and you do not need to call us to receive the refund.

USAA Insurance Company

  • 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.
  • Special payment arrangements are available to assist members experiencing financial difficulties. USAA will not cancel members’ auto or property insurance policies or charge fees due to late payments on USAA auto and property insurance coverage through June 17, 2020.
  • Expanded auto insurance coverage for members who use their personal vehicles to deliver food, medicine and other goods for commercial purposes.


Farmers Insurance

  • They are temporarily pausing policy cancellations due to non-payment, from now through May 1, 2020.  This means you will have until at least May 1 to make a mid-term payment, if one is due, and any unpaid balance will carry over to your next billing statement with no late fee or any other penalty.
  • If you receive a notice that your policy is expiring and you need additional time to pay, please contact them and they will extend your due date until at least May 1 and waive any late fees.  To make such a request, call us at 1-888-327-6335.

Liberty Mutual

  • Personal auto insurance customers will receive a 15% refund on two months of their auto premiums, as of April 7, 2020, pending regulatory approval.
  • The refunds will begin in April and will be issued either by check or in the manner you made your most recent payment.
  • The payments will happen automatically, and you do not need to call us to receive the refund.


GEICO

  • GEICO is providing a 15 percent credit to our auto and motorcycle policyholders as your policy comes 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 their ongoing efforts to assist policyholders during this unprecedented time.
  • The average auto policy has a semi-annual premium of about $1,000 and generally covers more than one vehicle. This means they expect credits to average about $150 per auto policy and $30 per motorcycle policy.
  • Current policyholders can expect to see the credit when your policy renews. You do not need to take any action to receive this credit.
  • They paused cancellation of coverage due to non-payment and policy expiration through at least April 30, 2020 or later as directed by your state. This pause is automatic for policyholders. We hope that this can provide some peace of mind to you.

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