Two auto insurance giants announced they are returning a total of $800 million in premiums to customers during the novelAllstate pledged to return $600 million to its customers amid the COVID-19 outbreak, and American Family Insurance said it would return $200 million.Allstate called it a"Shelter-in-Place Payback" program, saying most customers will receive 15% of their monthly premium in April and May.
Tom Wilson, the president and CEO of Allstate, called the move"fair" as less people are driving amid government-mandated stay-at-home orders. "This crisis is pervasive. Given an unprecedented decline in driving, customers will receive a Shelter-in-Place Payback of more than $600 million over the next two months," Wilson said in a statement."This is fair because less driving means fewer accidents."In this March 26, 2020, file photo, an Allstate Insurance logo sign is shown in Los Angeles, Calif.
"American Family Insurance is doing this out of responsibility to our customers. They are driving less and experiencing fewer claims. Because of these results, they deserve premium relief," Telisa Yancy, the company's chief operating officer, said in a statement.The financial relief announcements from both companies also comes as the U.S. economy faces an unprecedented crisis as a result of the COVID-19 outbreak.
LibertyMutual , what about you?
Way to go amfam Nice job being first.
All state is doing a noble job I hope other companies like Progressive Farm Bureau and others do the same
Well thanks but really. 15% of my premium back to me. Keep it and credit my account. Insurance companies make billions of dollars every year. They still keep85% of everyone’s $. How about they pay 100% of policy holders premiums for the next 2 months. Same coverage.
CC StateFarm Progressive
All are
So StateFarm When are you guys going to jump do this? Or should we consider going to your competitors since they are looking out for their customers during this time? DoTheRightThingStateFarm
State Farm? I need to change insurance
This is how a country heals. KUDOS Allstate!
Say home. Retire from the old hustle of life. Relax. A slowed down world is a better world.
🙏🙏🙏🙏🇺🇲🇺🇲🇺🇲🇺🇲👍👍👍👍
State Farm where ya at StateFarm
StateFarm Follow their example.
Yea yea, I got that email. Not going to see any change for 6 months until I renew my policy again.
As a insurance agent, you have to tell the whole story; you must be in a state where annual miles driven affects your premium amount. So far, California is the only one who can adjust annual miles driven. But call your carrier if you really cannot work because of driving less.
StateFarm you up?
Hey um, StateFarm you're up...lets do this thing!
StateFarm
State Farm?
An incredible refund. 10-15 percent of your monthly premium. On average, the refund will be $20 - $30 on an average insurance payment. Spend it wisely.
Progressive it’s a good read.
We got a notification today from our GEICO doing the same thing.
CC: MetLife
Progressive y’all bout to make me switch carriers!!
GEICO has announced a 15% policy discount effective on auto/motor policy renewals for April 8th thru October 7th.
Hi, MetLife. How about us?
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