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Here’s an interesting twist to the stay-at-home mandates; Car insurance companies are acknowledging that fewer people are driving and many are offering partial refunds.
Most are also offering to extend their grace periods instead of canceling your policy if you’re having difficulty paying.
Companies differ in what they’re offering. Some might offer a credit to reduce your next bill, while others may be offering a cash rebate. Most of these are being automatically applied, but if you don’t see any changes to your bill, definitely contact your local agent or national provider.
The following information was gathered from company websites and press releases and is only meant to provide a broad guide. Again, contact customer service or your agent with questions about your personal policy and premiums.
[This list was shared with us by our affiliate site, Atlanta on the Cheap, who compiled a list of major insurers with links provided to their pandemic responses. Note: This list is still in progress. If you don’t see your insurance company here, please check back. We started with the largest companies and are working our way to the smaller ones.]
Auto insurers offering refunds or credits
Allstate customers may receive a 15% refund in cash or credits. You may see this rebate applied in April and/or May. Depending on how you paid your premium, you may see the refund deposited in your checking account or applied to your credit card or Allstate account.
More info on the Shelter-in-Place Payback
Most customers will get a 25% credit for the period from March 20th to May 31st — but the amount refunded varies by state and we don’t have specific info for Georgia.
More info on the Good Neighbor Relief Program
Geico is planning to provide a 15% credit for the next 6-month policy term (not this current term). This means you may not see the savings for several months, but it will be sometime between now and October. For example, if your policy is $1,000 for 6 months, your credit will be $150 at your renewal.
More info on the Geico Giveback
Customers will get about a 20% credit for April and May premiums — which will be automatically applied to your account in May and June. Progressive is also offering leniency if you’re having trouble making payments right now.
More info on the Apron Relief Program
Policy holders will receive a 15% refund on two months of your premium. You don’t have to do anything — the refund will be applied automatically to whatever payment method you used most recently (so it may go back to your checking account or credit card). The company also says it is pausing cancellations until at least May 22.
More info on the Personal Auto Customer Relief Refund
Members will receive a 20% credit on two months of premiums. You don’t have to do anything to get the refund, and it will be applied automatically.
View the press release
Customers will get a flat-rate premium refund of $50 for each auto policy. It will be applied within the next 30 days, to whichever payment method you used most recently. The company is also extending payment terms for customers having a financial hardship — call to discuss options.
More info on the Rapid Relief Refund
Customers will receive a 15% credit on their April and may premiums. The company is also suspending cancellation and non-renewal of coverage due to nonpayment through May 15, 2020 (no interest, late fees, or penalties will be charged).
More info on the Stay-at-Home Credit
American Family Insurance
Customers will get a refund of $50 for each vehicle insured.
More info on Premium Relief Program
Farmers Insurance & 21st Century Insurance
The company is reducing car insurance premiums by 25% for April. It will be automatic and customers don’t need to take action.
More info on the rebate
This company offers insurance plans through AARP. Most customers will receive a 15% refund on their April and May premiums.
More info on Personal Auto Payback Plan
According to news reports, MetLife will give its customers a 15% credit for April and May premiums. We did not find this info stated on the company website.
See the company’s pandemic response here
Hanover Insurance Group
The company will refund 15% of April and May auto premiums.
More info on Hanover CARES Fund