Insurance companies have grown over the past year as Americans weathered the COVID-19 pandemic by giving COVID refunds in part as premium repayments because we spent less on donations to the communities they serve.

While the amortization is all but finished, the insurance carriers encourage customers to reach out to them if they need assistance. Here we are providing updates that insurers are providing as the pandemic seems to be easing a bit.

How are the largest insurers reacting to coronavirus?

District farm

State Farm’s COVID refund program was announced in May 2020 to bring car tariffs across the country down to a total of $ 2.2 billion. Customers should see rate cuts when they renew their policies.

[ Keep reading:Laid Off? Here’s How to Apply for Unemployment Insurance.]

“In combination with the dividend, this is it Overall savings of approximately $ 4.2 billion will be achieved for our auto customers, ”State Farm stated in a press release. The company also confirmed that it has changed its vacation policy to ensure the safety of customers and employees, and to provide financial security to the affected employees.

If you are having trouble making your insurance payments, the insurer recommends contacting your State Farm representative. You can also contact them through the State Farm mobile app or by phone.

State Farm pandemic policy update

State Farm found that driving increased, and so there were more claims. As a result, the rates have been adjusted from January 2021. The time and amount vary depending on the state and the time of your renewal.

“Despite these changes, the automatic rates remain below pre-COVID-19 levels. Our approach is to make incremental adjustments based on driving behavior to minimize the impact on customers, ”says State Farm.

Geico

Geico’s COVID refund program has been updated Automatic Giveback Credit: “GEICO grants our auto and motorcycle policyholders a credit of 15% if their policy is extended between April 8 and October 7, 2020. The credit also applies to all new policies purchased during this period. “

Geico has published a Giveback Credit Estimator on its website. Note, however, that at the time of renewal, the full 15% credit has been applied to your contract period.

If you need to get in touch with Geico, it is best to contact Geico through the Geico app as the waiting times for calls may be longer than usual.

Geico pandemic policy update

Geico’s cancellation break ended in May 2020, although Washington, DC has extended the cancellation break for its residents to June 20, 2021.

“The Geico giveback has also ended, but we understand that everyone’s financial situation may not be back to normal,” said Geico. “We are eager to work with you including flexible payment plans and / or special payment plans after normal billing resumes.”

Allstate

Allstate’s COVID refund response included an automated program, Shelter-In-Place Refund. “On average, private auto insurance customers get 15% money back based on their monthly premium in April and MayThis program was extended until June 2020.

Allstate also offered free identity protection and automatically covered “Customers who use their personal vehicles to deliver groceries, medicines and other goods for commercial purposes during the COVID-19 emergency period”.

Allstate Pandemic Policy updated

Allstate reported that it returned $ 1 billion to customers through the shelter-in-place payback. The airline also says it has contributed millions of dollars to community relief and recovery efforts.

Progressive

Progressive’s COVID refunds were offered to customers as an automatic 20% credit for April and May 2020.

After the originally offered grace period for Progressives has expired, the remaining protection will be based on government billing policies for the pandemic. “We adhere to all country-specific requirements, which means that we do not cancel or renew a policy for non-payment during the leniency period.”

Progressive pandemic policy update

Progressive reports say the Apron Relief Program raised more than $ 1 billion to help customers, employees, communities and agents during the pandemic.

USAA

The USAA’s COVID reimbursements were announced in 2020: “Every member with auto insurance valid as of March 31, 2020 will receive 20% credit on two premium months in the coming weeks.”

Since then, USAA has paid auto insurance customers three dividends, most recently in August 2020 for an additional $ 270 billion for a grand total of $ 1.06 billion.

The USAA website confirms its response to COVID-19:

  • The USAA announced that it wants to help mitigate the impact of the pandemic on military families. “The USAA is donating $ 30 million to two dozen nonprofits to provide assistance and assistance through the Military Family Relief Initiative.”
  • Extended auto insurance coverage for members who use their personal vehicles to deliver groceries, medicines, and other goods for commercial purposes. “

USAA pandemic policy update

The USAA reports that it donated more than $ 47 million to support pandemic relief to military families and local communities through a number of programs specific to the various military branches.

Cancellation of non-payment policies has resumed, except in states where no-payment cancellations are prohibited. However, USAA recommends customers contact the provider if they are behind on their premiums.

Liberty Mutual

Liberty Mutual’s COVID refunds were announced: “From March 23 to June 15, 2020, we automatically waived all late fees and continued coverage for customers with overdue payments.” Depending on which state you live in, these conditions can be extended.

Liberty Mutual also announced steps to protect claims adjusters, employees and customers during this time and to limit personal contact only to emergency scenarios.

Liberty Mutual pandemic policy update

If you have faced difficulties during the pandemic and have changed your driving style, you can contact Liberty Mutual to review coverage, deductible, and other policy changes, including options to update mileage.

farmers

25% COVID reimbursements from farmers were granted from April 1 to June 2020 in the form of Personal Auto Reward Credits. Billing operations will continue. ”

Farmers has also implemented customer support for California forest fires, tropical storms, and Hurricane Sally.

Farmers encourages customers to submit claims and manage policies digitally, either online or through the Farmers mobile app. “If you are unable to make your payment on time due to COVID-19, please call 1-888-327-6335 to discuss your options.”

Farmers pandemic policy update

Signal app discounts will remain in effect even if you are not driving during the pandemic, but you must keep the app activated. The minimum of 10 trips was waived.

How can you find help with your insurance bills if you are affected by COVID-19?

If you don’t see your insurer on this list, we recommend checking your insurance company’s website to see if there’s a COVID-19 update. This can be posted as a banner on the website home page, or you can find it by Googling the insurance company’s name along with “pandemic”.

You can also contact your insurer directly by phone. However, we have found that many insurance companies are receiving higher than normal call volume. So be prepared for longer waiting times than normal.

LEAVE A REPLY

Please enter your comment!
Please enter your name here