Auto Insurers Issue Refunds In Response to COVID

Why?

During the pandemic driving mileage has decreased 35% – 50% causing a sharp decline in car accidents.

Which auto insurers?

Allstate:  

• $600 million in refunds over the next 2 months for 18 million customer policies
• Allowing customers to delay 2 payments without penalty 
• Opening Identity Protection products to all U.S. residents as cybercrime increases due to increased virtual meetings 

American Family Insurance 

• $50 rebate per car for more than 2 million customers
• Suspending late fees and cancellations

USAA, Progressive, & Farmers

extending grace periods, suspending late fees & cancellations, and allowing payment deferrals

Triple Pundit | Auto Insurers Issue Customer Refunds: ‘This is About Fairness’