Car insurance companies could give you credit, refunds due to COVID-19
Some auto insurance companies could return billions of dollars back to drivers in response to the COVID-19 pandemic.
The Consumer Federation of America
companies that sell 82 percent of the auto insurance in America will be refunding or crediting drivers more than $6.5 billion in the upcoming months.
Stay-at-home orders around the United States have led to fewer drivers on the road and many cars sitting in driveways, prompting refunds, credits or reductions on premium from several companies.
, these car insurance companies are offering some sort of relief:
-AAA: 20% refund between for policyholders with insurance in effect from March 16 to May 15
-Allstate: 15% discount on premiums in April and May
-American Family Insurance: $50 one-time payment for each car insured
-Amica: 20% credit on April and May premiums
-Auto-Owners Insurance: 15% refund on April and May premiums
-Chubb: 35% discount on April and May premiums
-Cincinnati Insurance and Casualty: 15% credit on April and May premiums
-CSAA: 20% refund on two months’ premium
-Encova: 15% discount on April and May premiums
-Geico: 15% percent credit for auto and motorcycle customers whose policies renew between April 8 and Oct. 7 and new policy purchases between that time frame.
-Hanover Insurance Group: 15% discount on April and May premiums
-The Hartford: 15% refund on April and May premiums, only for policies in effect as of April 1
-Liberty Mutual: 15% refund on two months of premiums, refunds begin starting April 7
-Kemper: 15% credit on April and May premiums
-MetLife: 15% credit on April and May premiums
-Mercury Insurance: 15% credit on April and May premiums
-Nationwide: $50 one-time refund per policy as of March 31; refunds will be credited automatically within 30 days to the current payment method on file
-Next Insurance: 25% discount on April premiums
-Progressive Insurance: 20% credit for April premiums for each car insured as of April 30; 20% reduction on May premiums for cars insured as of May 31; credits will be applied automatically in May and June
-Safeco: 15% refund on April and May premiums starting April 7
-State Farm: Most customers will receive, on average, a 25% credit between March 20 through May 31; exact percentages vary by state; credits will be applied automatically as early as June
-Travelers: 15% credit for April and May premiums
-USAA: 20% credit on two months' premiums; credits will be applied automatically
If your insurer isn't offering a refund or credit, consumer advocates say it's a good time to reach out to them to see what they can do.