The number of auto insurers offering their customers premium relief in the wake of decreased driving the resulting decline in claims continues to grow. Below are additional insurers offering discount programs to their customers. Plymouth Rock Assurance Plymouth Rock Assurance announced that it will apply a 25 percent premium credit on Liability and Personal Injury […]
State Farm and USAA Announce Auto Insurance Premium Credits in Response to Coronavirus Impact on Driving
State Farm and USAA announced programs to provide relief to customers on the auto insurance premiums as a result of the decline in driving due to stay-at-home orders. Collectively, U.S. auto insurers will return more than $10 billion to their customers nationwide, according to an estimate released April 11 by the Insurance Information Institute (Triple-I). […]
Progressive, Farmers and Travelers Join List of Auto Insurers Offering Credits and Rebates to Policyholders
Another three of the top 10 auto insurers have launched programs to provide credits or refunds on auto insurance premiums during the coronavirus crisis. Progressive Insurance, the third largest private passenger auto insurer in the U.S.; Farmers Insurance, the sixth largest auto insurer, and Travelers, the tenth largest auto insurer, announced programs over the past […]
GEICO and Liberty Mutual Joins List of Insurers Providing Credit for Auto Insurance Premiums in Wake of Pandemic Impact on Accidents
GEICO will provide $2.5 billion in credits to customers. Liberty Mutual refunding $250 million to Liberty and Safeco insureds. GEICO and Liberty Mutual separately announced that they would be providing relief to their auto insurance policyholders, joining Allstate and American Family that announced similar programs earlier this week. GEICO, the second largest private passenger auto […]
Consumer Groups Applaud Allstate And American Family Shelter-In-Place Auto Insurance Refunds
Groups urge other auto insurers to do the same. The Consumer Federation of America (CFA) and the Center for Economic Justice (CEJ) applauded insurers Allstate and American Family Insurance for promising premium relief to policyholders totaling $800 million. This reflects a sharp drop in auto insurance claims resulting from far fewer miles driven as millions […]
Allstate and American Family Announce Programs to Return Portion of Premiums to Auto Insurance Customers
Both Allstate Insurance and American Family announced programs to return a portion of paid insurance premiums back to customers given dramatic declines in driving and accidents in as a result of shelter-in-place orders from states around the country. As CollisionWeek reported on April 3, weekly fuel consumption declined substantially in the second half of March […]
Global Auto Insurance Market Grew 5.2% Annually Since 2010
According to a new research study released by Finaccord, worldwide, the value of auto insurance premiums in 2014 was $671.3 billion with this global market size having risen at a nominal compound annual growth rate of 5.2 percent since 2010, when premiums were worth $547.0 billion, though this growth rate was 3.2 percent in real […]
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