April 8, 2020—GEICO is providing a 15 percent credit to its auto and motorcycle customers as their policy comes up for renewal between April 8 and Oct 7, according to a press release. The credit is part of GEICO’s ongoing efforts to assist customers during the COVID-19 virus pandemic.
GEICO expects credits to average about $150 per auto policy and $30 per motorcycle policy. The company estimates the benefit to its 18 million auto and one million motorcycle customers will be approximately $2.5 billion.
Last month, GEICO announced it was pausing cancellations of coverage due to non-payment and policy expiration through at least April 30. Beyond that, the company has committed to offering maximum flexibility to policyholders who need special payment options as well as transitioning nearly all of its associates to work from home to continue providing the 24/7 service it is known for.