How Much Are Insurance Companies Giving Back

Personal auto insurance customers will receive a 15 refund on two months of their auto premiums as of april 7 2020 pending regulatory approval. Car insurance companies are giving people money back since no one is driving. April 25 2020 at 2 58 p m.

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Most of us aren t getting 50 of our premiums back.

How much are insurance companies giving back. Insurance companies need to extend this payback indefinitely. They are also pausing all policy cancellations for non payment until may 22 2020. Car insurers are giving billions back to drivers. Safeco is giving auto insurance customers a 15 refund for 2 months of premium payments.

State farm says on average that will work out to 20 per month per vehicle. On april 13 california insurance commissioner ricardo lara ordered insurance companies in the state to make an initial premium refund for the months of march and april within 120 days. Our top priority is the well being of our. Via the good neighbor relief program state farm is paying back 2 billion to auto insurance customers.

Even if we re out and about in a month or so which i don t think we will be. Two companies announced they plan to give back about 800 million to their customers since people are driving so much less right now. State farm and other car insurance companies are giving refunds due to coronavirus how you can get yours published. But the industry is saving even more during the pandemic even after subtracting the payments being made to policyholders.

State farm is giving customers about 25 back on auto insurance payments made between march 20 and may 31.