Multiple Insurers Announce Personal Auto Customer Discounts

April 9, 2020
More auto insurers have announced extended coverage or relaxed payment terms in light of the coronavirus.

April 9, 2020—Progressive, Travelers' and USAA insurance companies have announced payment updates in light of the COVID-19 virus outbreak, according to the Insurance Journal.

Here are the payment updates according to the report:

Progressive Insurance announced it is providing approximately $1 billion to its drivers as a result of fewer claims that come with less frequent driving. Progressive personal auto customers who have a policy in force as of April 30 will be credited 20 percent of their April premiums in May and customers with a policy in force as of May 31 will be credited 20 percent of their May premiums in June.

As a part of Progressive's support to the community in its Apron Relief Program, the company is providing a full-service claims experience for first responders and health care workers who experience a car accident. It will provide roadside service (including transportation to work or home from the accident if needed), expedited tow service and vehicle repairs, pick-up and delivery of the repaired vehicle, all while deferring deductibles and providing a rental vehicle if needed, according to Insurance Business Magazine.

The Travelers Companies announced it is giving U.S. personal auto insurance customers a 15 percent credit on their April and May premiums. In addition, Travelers is offering billing relief to customers, accelerating more than $100 million in commission payments to eligible agents and brokers and pledged $5 million to assist families and communities.

USAA will be returning $520 million to its members.Every member with an auto insurance policy in effect as of March 31 will receive a 20 percent credit on two months of premiums in the coming weeks.

In addition to the three insurers, Farmers Insurance is giving a 20 percent discount to more than 115,000 of its business insurance customers. Liberty Mutual is refunding 15 percent of premium for two months to personal auto insurance customers.