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Allstate returning $600 million to insurance customers as claims fall - Business Insider

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Allstate is giving $600 million back to customers because there are fewer car crashes during the coronavirus pandemic

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An interstate sits empty in San Francisco, California on April 1, 2020 during the Covid 19 crisis. - All 40 million residents of California were Thursday ordered to stay at home indefinitely in a bid to battle the coronavirus pandemic in the nation's most populous state.Insurance giants are saving hundreds of millions of dollars thanks to the drop in filed claims as Americans stop driving.

The No. 4 American insurer said Monday that most customers will get 15% of their monthly premiums back in April, totaling about $600 million. "This is fair because less driving means fewer accidents," chief executive Tom Wilson said in a press release.it was also returning about $200 million in premiums to drivers in the state for similar reasons., the number of total wrecks and fatalities are both down about 50% since March 19 when the state issued stay-at-home orders.

 

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I’ll take it...

Hey Donegal_Ins I hope you’ll consider doing the same for your customers

👏👏👏

So, they overcharged their customers by $600million...

🚨🚨erie_insurance I hope you guys are looking into something similar🚨🚨

Can you imagine what their profits and margin must've been for them to do this ?

I hear DesjardinsGroup is doing the same thing however you have to specifically apply for the refund.

Progressive ItsFlo Where you at.......

GEICO what's good?

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