Report: More Insurers Returning Money During Pandemic
May 19, 2020—Auto insurers announced recently they will return more credit to auto and motorcycle policyholders as a result of Americans staying home during the COVID-19 virus outbreak, according to a report by Reuters.
Allstate will return more than $600 million in premiums to customers. State Farm said it would pay $2 billion in dividends to its customers, with premium credit of about 25 percent for the period between March 20 and May 31.
Liberty Mutual Insurance will give personal auto insurance customers a 15 percent refund on two months of their annual premium. GEICO said it will offer a 15 percent credit on policies up for renewal between April 8 and Oct. 7.
Other insurers who have announced returning credit include Travelers Companies Inc, Progressive, USAA, Liberty Mutual and more.