What insurance companies are doing during the COVID-19 pandemic

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    Insurance companies have grown over the past year as Americans weathered the COVID-19 pandemic by giving COVID refunds in part as premium repayments because we spent less on donations to the communities they serve.

    While the repayments are all but finished, the insurance carriers encourage customers to get in touch with them if they need assistance. Here we are providing updates that insurers are providing as the pandemic seems to be easing a bit.

    How are the largest insurers reacting to coronavirus?

    District farm

    State Farm’s COVID refund program was announced in May 2020 to bring car tariffs across the country down to a total of $ 2.2 billion. Customers should see rate cuts when they renew their policies.

    [ Keep reading: Laid Off? Here’s How to Apply for Unemployment Insurance. ]

    “In combination with the dividend, this is it Overall savings of approximately $ 4.2 billion will be achieved for our auto customers, ”State Farm stated in a press release. The company also confirmed that it has changed its vacation policy to ensure the safety of customers and employees, and to provide financial security to the affected employees.

    If you are having trouble making your insurance payments, the insurer recommends contacting your State Farm representative. You can also contact them through the State Farm mobile app or by phone.

    State Farm pandemic policy update

    State Farm found that driving increased, and so there were more claims. As a result, the rates have been adjusted from January 2021. The time and amount vary depending on the state and the time of your renewal.

    “Despite these changes, the automatic rates remain below pre-COVID-19 levels. Our approach is to make incremental adjustments based on driving behavior to minimize the impact on customers, ”says State Farm.

    Geico

    Geico’s COVID refund program has been updated Automatic Giveback Credit: “GEICO grants our auto and motorcycle policyholders a credit of 15% if their policy is extended between April 8th and October 7th, 2020. The credit also applies to all new policies purchased during this period. “

    Geico has published a Giveback Credit Estimator on its website. Note, however, that the full 15% credit would have been applied to your contract period at the time of renewal.

    If you need to get in touch with Geico, it is best to contact Geico through the Geico app as the waiting times for calls may be longer than usual.

    Geico pandemic policy update

    Geico’s cancellation break ended in May 2020, although Washington, DC has extended the cancellation break for its residents to June 20, 2021.

    “The Geico giveback has also ended, but we understand that everyone’s financial situation may not be back to normal,” said Geico. “We aim to work with you, including flexible payment plans and / or special payment plans, after normal billing resumes.”

    Allstate

    Allstate’s COVID refund response included an automated program, Shelter-In-Place Refund. “On average, private auto insurance customers get 15% money back based on their monthly premium in April and MayThis program was extended until June 2020.

    Allstate also offered free identity protection and automatically covered “Customers who use their personal vehicles to deliver groceries, medicines and other goods for commercial purposes during the COVID-19 emergency period”.

    Allstate Pandemic Policy updated

    Allstate reported that it returned $ 1 billion to customers through the shelter-in-place payback. The airline also says it has contributed millions of dollars to community relief and recovery efforts.

    Progressive

    Progressive’s COVID refunds were offered to customers as an automatic 20% credit for April and May 2020.

    After the originally offered grace period for Progressives has expired, the remaining protection will be based on government billing policies for the pandemic. “We adhere to all country-specific requirements, which means that we do not cancel or renew a policy for non-payment during the leniency period.”

    Progressive pandemic policy update

    Progressive reports say the Apron Relief Program allocated over $ 1 billion to help customers, employees, communities and agents during the pandemic.

    USAA

    The USAA’s COVID reimbursements were announced in 2020: “Every member with auto insurance valid as of March 31, 2020 will receive 20% credit on two months of premiums in the coming weeks.”

    Since then, USAA has paid auto insurance customers three dividends, the last of which was in August 2020 for an additional $ 270 billion, for a grand total of $ 1.06 billion.

    The USAA website confirms its response to COVID-19:

    • The USAA announced that it wants to help mitigate the impact of the pandemic on military families. “The USAA is donating $ 30 million to two dozen nonprofits to provide help and assistance through the Military Family Relief Initiative.”
    • Extended auto insurance coverage for members who use their personal vehicles to deliver groceries, medicines, and other goods for commercial purposes. “

    USAA pandemic policy update

    The USAA reports that it donated more than $ 47 million to support pandemic relief to military families and local communities through a number of programs specific to the various military branches.

    Cancellation of non-payment policies has resumed, except in states where no-payment cancellations are prohibited. However, USAA recommends customers contact the provider if they are behind on their premiums.

    Liberty Mutual

    Liberty Mutual’s COVID refunds were announced: “From March 23 to June 15, 2020, we automatically waived all late fees and continued coverage for customers with overdue payments.” Depending on which state you live in, these conditions can be extended.

    Liberty Mutual also announced steps to protect claims adjusters, employees and customers during this time and to limit personal contact only to emergency scenarios.

    Liberty Mutual pandemic policy update

    If you’ve faced difficulties during the pandemic and have changed your driving behavior, you can contact Liberty Mutual to review coverage, deductible, and other policy changes, including options to update mileage.

    farmers

    25% COVID reimbursements from farmers were granted in the form of Personal Auto Reward Credits from April 1 to June 2020 and billing operations will continue. ”

    Farmers has also implemented customer support for California forest fires, tropical storms, and Hurricane Sally.

    Farmers encourages customers to submit claims and manage policies digitally, either online or through the Farmers mobile app. “If you cannot make your payment on time due to COVID-19, please call 1-888-327-6335 to discuss your options.”

    Update of farmers’ pandemic policy

    Signal app discounts will remain in effect even if you are not driving during the pandemic, but you must keep the app activated. The minimum of 10 trips was waived.

    How can you find help with your insurance bills if you are affected by COVID-19?

    If you don’t see your insurer on this list, we recommend checking your insurance company’s website to see if they have a COVID-19 update. This can be posted as a banner on the website’s home page, or you can find it by Googling the insurance company’s name along with “pandemic”.

    You can also contact your insurer directly by telephone. However, we have found that many insurance companies are receiving higher than normal call volume. So be prepared for longer waiting times than normal.

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