Over A Dozen Auto Insurers Are Offering Coronavirus Discounts

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Automotive Editor

Based out of the Washington, D.C. area, Joel Patel is an automotive journalist that hails from Northern Virginia. His work has been featured on various automotive outlets, including Autoweek, Digital Trends, and Autoblog. When not writing about cars, Joel enjoys trying new foods, wrenching on his car, and watching horror movies. 

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, Automotive Editor - April 27, 2020
Insurance

With numerous states currently under stay at home orders, people aren’t driving their cars as much as they did before the coronavirus pandemic. Since vehicle travel is down, several automotive insurance companies have introduced rebates on insurance premiums to give car owners a way to save money.

Consumer Reports reached out to 20 of the top-rated auto insurance companies according to the organization’s rankings to get an idea of what kind of relief they’re offering during these troubling times. Here’s the thorough list the outlet put together:

Allstate: 15% rebate on premiums for April and May for most customers

American Family Insurance: One-time, $50 payment for each vehicle insured under a personal auto insurance policy

Amica: 20% credit on auto premiums for April and May

Auto-Owners Insurance: No relief program yet but plans to announce a premium refund program in the near future.

Chubb: 35% premium reduction on renewals in April and May. If the situation continues into the following months, additional discounts are possible.

Farmer's and 21st Century: 25% reduction on April premiums

GEICO: 15% credit on renewals for auto and motorcycle policyholders

Liberty Mutual and Safeco: 15% refund on two months of policyholders’ personal auto premiums.

Mercury: 15% refund on monthly auto insurance premiums for April and May

Nationwide: One-time premium refund of $50 per policy

NJM: 15% refund on three months of premium payments

USAA: 20% credit on two months of premiums in the coming weeks

Depending on what insurance company you have, you’ll most likely see refunds applied automatically. The outlet claims that refunds will come as a credit on the account or as a premium reduction.

As Consumer Reports points out, insurance companies are handling things differently. Some are automatically deferring premiums and delaying cancellations, while others require policyholders to contact their local agent to get some one-on-one help. The outlet claims that insurance companies are making changes swiftly, so it’s best for consumers to get in contact with their respective insurance companies as soon as possible.

It’s important to note that while the majority of automobile insurance companies have some kind of assistance plan in place for policyholders, they’re just temporary ways to help consumers out at the moment. Consumer Reports claims that the majority of insurance companies that are pausing monthly payments will spread out those payments over the remaining months in the policy later on.

With everything going on with the pandemic, unemployment rates, and the economy, it’s nice to see major insurance companies provide policyholders with some savings and leeway to focus on staying safe.

Explore coronavirus deals and assistance programs »

, Automotive Editor

Based out of the Washington, D.C. area, Joel Patel is an automotive journalist that hails from Northern Virginia. His work has been featured on various automotive outlets, including Autoweek, Digital Trends, and Autoblog. When not writing about cars, Joel enjoys trying new foods, wrenching on his car, and watching horror movies. 

Follow On: Twitter

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