USAA, the country’s fifth largest property-casualty insurer, announced it is returning an additional $270 million dividend to auto insurance policyholders. This follows earlier announcements that USAA would provide dividends totaling $800 million to its members as a 20% credit on three months’ worth of premiums. This new, additional dividend will reflect 10% of up to […]
California to Require Auto Insurers to Continue COVID-19 Premium Refunds
Consumer groups urge other states to take action. California Insurance Commissioner Ricardo Lara announced that the California Department of Insurance requires auto insurers to continue their COVID-19 related premium refunds to policyholders from April and May, previously directed by the Commissioner, through June and to continue providing relief for any period after June as conditions […]
Safety Insurance Extends 15% Auto Relief Credit Through June 30
Safety Insurance today announced the extension of its Personal Auto Relief Credit through June 30, reflecting changing consumer patterns and needs during the ongoing COVID-19 pandemic. The original credit was announced in April and offered all eligible Safety Insurance personal auto policyholders a 15% credit off their premium for the months of April and May. […]
State Farm Announces $2.2 Billion in Auto Insurance Cuts
State Farm announced that based on current trends, it is working to reduce auto insurance rates in every state. The national average for those rate reductions is 11%, saving customers a total of approximately $2.2 billion. The rate reductions are in addition to its Good Neighbor Relief Program that State Farm previously announced would provide […]
New Jersey Directs Insurance Companies to Provide Premium Reductions to Drivers and Businesses
The New Jersey Department of Banking and Insurance directed insurance companies in the state to provide premium reductions to consumers and businesses during the COVID-19 emergency. The bulletin issued May 12 by the department covers premiums that are paid during the public health emergency that began March 9th and applies to property and casualty insurance […]
Louisiana Insurance Commissioner Calls for Commercial Auto Insurance Premium Discounts
Louisiana Insurance Commissioner Jim Donelon has called upon commercial vehicle insurers to review their Louisiana policies and consider returning a percentage of premium to policyholders whose businesses have been impacted by the stay at home orders put in place as a result of the Coronavirus pandemic. Following these emergency declarations, many commercial fleet operators are […]
Erie and AAA Groups Announce Auto Insurance Customer Discounts
More auto insurers announced customer discount and rebate programs as traffic volume and claims declined dramatically due to stay-at-home orders. Erie Insurance announced it will provide $200 million in dividends directly to personal and commercial auto insurance customers in the 12 states and the District of Columbia where the company does business. This immediate relief […]
Additional Auto Insurers Provide Premium Relief
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 […]
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