[Auto insurance companies issuing refunds due to coronavirus]

Non-investing personal finance issues including insurance, credit, real estate, taxes, employment and legal issues such as trusts and wills
abner kravitz
Posts: 551
Joined: Tue May 05, 2015 7:42 am
Location: Beaufort County, SC

Re: USAA to Return $520 Million to Members

Post by abner kravitz » Thu Apr 09, 2020 3:38 pm

Liberty Mutual is joining the party. I have no idea what I will get.

jebmke
Posts: 10902
Joined: Thu Apr 05, 2007 2:44 pm
Location: Delmarva Peninsula

Re: USAA to Return $520 Million to Members

Post by jebmke » Thu Apr 09, 2020 3:39 pm

Now I can buy that bottle of beer I've had my eye on.
When you discover that you are riding a dead horse, the best strategy is to dismount.

User avatar
Harry Livermore
Posts: 393
Joined: Thu Apr 04, 2019 5:32 am

Re: [Auto insurance companies issuing refunds due to coronavirus]

Post by Harry Livermore » Thu Apr 09, 2020 3:42 pm

Crickets from PURE. I give them +/- $13K per year between 3 properties, 3 vehicles, and $5M umbrella. Our vehicles have not moved in 4 weeks, other than the 1/2 mile to the grocery store.
They are also supposedly keeping a fund of "excess contributions" for each "member" that vests after several years. Seems at least they'd return that to their "members". But, nothing...
If I hear otherwise, I will follow up.
Cheers

BGeste
Posts: 121
Joined: Wed Jul 24, 2019 11:55 am

Re: USAA to Return $520 Million to Members

Post by BGeste » Thu Apr 09, 2020 3:56 pm

arcticpineapplecorp. wrote:
Thu Apr 09, 2020 3:35 pm
yeah, got an email from Geico yesterday. they're returning 15% of premiums on auto and motorcycle on next bill (between 4/8/20 and 10/7/20).
Geico is offering the discount on a full six months. Much better than the 2 months offered by other companies.

BGeste
Posts: 121
Joined: Wed Jul 24, 2019 11:55 am

Re: USAA to Return $520 Million to Members

Post by BGeste » Thu Apr 09, 2020 3:56 pm

arcticpineapplecorp. wrote:
Thu Apr 09, 2020 3:35 pm
yeah, got an email from Geico yesterday. they're returning 15% of premiums on auto and motorcycle on next bill (between 4/8/20 and 10/7/20).
Geico is offering the discount on a full six months. Much better than the 2 months offered by other companies.

User avatar
arcticpineapplecorp.
Posts: 5285
Joined: Tue Mar 06, 2012 9:22 pm

Re: USAA to Return $520 Million to Members

Post by arcticpineapplecorp. » Thu Apr 09, 2020 4:05 pm

BGeste wrote:
Thu Apr 09, 2020 3:56 pm
arcticpineapplecorp. wrote:
Thu Apr 09, 2020 3:35 pm
yeah, got an email from Geico yesterday. they're returning 15% of premiums on auto and motorcycle on next bill (between 4/8/20 and 10/7/20).
Geico is offering the discount on a full six months. Much better than the 2 months offered by other companies.
Glad I'm with Geico then.
"May you live as long as you want and never want as long as you live" -- Irish Blessing | "Invest we must" -- Jack Bogle

User avatar
Gort
Posts: 598
Joined: Sat Mar 17, 2007 5:07 pm

Re: USAA to Return $520 Million to Members

Post by Gort » Thu Apr 09, 2020 4:08 pm

Chip wrote:
Thu Apr 09, 2020 3:33 pm
$20 for me. Woo hoo!!!
If you don't want it you can send it to me.

talzara
Posts: 1016
Joined: Thu Feb 12, 2009 7:40 pm

Re: [Auto insurance companies issuing refunds due to coronavirus]

Post by talzara » Thu Apr 09, 2020 4:09 pm

doss wrote:
Thu Apr 09, 2020 6:44 am
Anyone heard anything from AAA auto insurance? I am not happy with them (non virus related) and hoping they refund premiums soon.
There are three major auto insurers that share the brand name AAA. Each of them operates independently of the others. Which one are you with?

jharkin
Posts: 2571
Joined: Mon Mar 28, 2016 7:14 am
Location: Boston suburbs

Re: Allstate offers 15% [car insurance] rebate for reduced driving

Post by jharkin » Thu Apr 09, 2020 4:29 pm

talzara wrote:
Thu Apr 09, 2020 3:27 pm
Random Poster wrote:
Wed Apr 08, 2020 7:07 pm
Personally, I’d like to see something from Amica other than the 10% or 15% rebate that typically shows up for me in November.
Amica is a mutual. Any excess profits will be paid out as dividends to participating policies. Since you are already receiving dividends every year, you should receive a larger dividend this year.

Amica also sells non-participating policies, which do not receive dividends.
In about 6 or 7 states Amica does not offer the dividend policy option, I believe due to state regulation of rates. My state (MA) is one of them.


Amica has a statement on their website they are working on a COVID debate.

Topic Author
pshonore
Posts: 6842
Joined: Sun Jun 28, 2009 2:21 pm

Re: Allstate offers 15% [car insurance] rebate for reduced driving

Post by pshonore » Thu Apr 09, 2020 4:33 pm

Spirit Rider wrote:
Thu Apr 09, 2020 7:19 am
rob wrote:
Wed Apr 08, 2020 11:57 am
Have to wonder what the real reduction in their costs were... FAR more than 15% I would bet.
You have to consider that a significant factor an insurance company's net cost is investment gains/losses. They don't just put your premiums under a mattress.

Now, I would think they would invest far more conservatively for automobile policies that have constant claim liabilities. Home insurance claims tend to peak during natural disasters.

Finally, with life insurance it is usually longer term. I would expect life insurance premiums to go up. Probably more from investment losses in insurance company portfolios than death claims.

Many people don't know that a significant driver of Berkshire Hathaway's growth has been Warren Buffet's acquisition insurance companies the largest of which is GEICO.

He has always used the insurance premium float to invest. He is quoted as saying that BRK would be nowhere near where it is today without the insurance company cash to invest.
There's not a lot of float on property insurance (which Geico doesn't write anyway and I have no idea if they're on hook for losses.) And there's not a lot of float on Auto either. Physical damage claims (comp, collision and property damage settle quickly.), but BI (Bodily Injury) can take time. The big float is on Workmans Comp and General Liability where claims can take a time to settle and the payouts can go on for years. Float is also a double edged sword because inflation can be a big factor. And its not as if you get 100% of the premium in advance either.

HomeStretch
Posts: 4654
Joined: Thu Dec 27, 2018 3:06 pm

Re: [Auto insurance companies issuing refunds due to coronavirus]

Post by HomeStretch » Thu Apr 09, 2020 4:34 pm

Travelers just emailed to say they will give a 15% discount each of April and May’s monthly auto premiums.

Godgers10
Posts: 1
Joined: Fri Jan 18, 2019 11:23 pm

Re: [Auto insurance companies issuing refunds due to coronavirus]

Post by Godgers10 » Thu Apr 09, 2020 4:37 pm

There is no update from AAA on the refunds. I am up for renewal and thinking to buy Geico policy.

User avatar
Misenplace
Moderator
Posts: 2147
Joined: Mon Feb 01, 2016 9:46 pm

Re: USAA to Return $520 Million to Members

Post by Misenplace » Thu Apr 09, 2020 4:41 pm

mapleosb wrote:
Thu Apr 09, 2020 3:12 pm
https://communities.usaa.com/t5/Press-R ... mlink=cta1

[Press release from USAA, an insurer, announcing a 20% credit on two months of premiums- description added by Moderator Misenplace]
Above was merged into the existing topic on auto insurance companies issuing refunds.

talzara
Posts: 1016
Joined: Thu Feb 12, 2009 7:40 pm

Re: [Auto insurance companies issuing refunds due to coronavirus]

Post by talzara » Thu Apr 09, 2020 4:51 pm

Harry Livermore wrote:
Thu Apr 09, 2020 3:42 pm
Crickets from PURE. I give them +/- $13K per year between 3 properties, 3 vehicles, and $5M umbrella. Our vehicles have not moved in 4 weeks, other than the 1/2 mile to the grocery store.
They are also supposedly keeping a fund of "excess contributions" for each "member" that vests after several years. Seems at least they'd return that to their "members". But, nothing...
If I hear otherwise, I will follow up.
PURE is an exchange. The subscribers own the exchange, and they can be required to contribute capital ("surplus"). PURE requires new subscribers to contribute for the first five years. The surplus contributions are credited to their Subscriber Savings Accounts. Profits are also credited to the SSA.

PURE was only established in 2006, and it has been growing. It hasn't paid any dividends, because the surplus has been retained to support policy growth. It's like any other company that retains earnings instead of paying out dividends. Your earnings in Vanguard Total Stock Market are mostly in the form of capital gains, not dividends.

You can get your SSA paid out by leaving PURE:
What happens to SSA funds upon the termination of membership or in the case of a member’s death?

Members who terminate their membership with PURE are eligible to collect the balance of their SSA. Distributions will be made within six months of the date the member’s last policy was effective, assuming policies have been paid in full. In the event of a member’s death, the SSA will be transferred to the surviving spouse. If there is no surviving spouse, payment will be made to the deceased member’s estate.

https://www.pureinsurance.com/faqs#subs ... ounts-ssas

lessismore22
Posts: 148
Joined: Sun Jul 01, 2018 8:02 pm
Location: USA

Re: [Auto insurance companies issuing refunds due to coronavirus]

Post by lessismore22 » Thu Apr 09, 2020 7:15 pm

I'm waiting to see how much The General is returning to its customers :wink:

AlphaLess
Posts: 2627
Joined: Fri Sep 29, 2017 11:38 pm
Location: Kentucky

Re: [Auto insurance companies issuing refunds due to coronavirus]

Post by AlphaLess » Thu Apr 09, 2020 8:01 pm

This makes sense. Let's hope they don't regret it later.
"A Republic, if you can keep it". Benjamin Franklin. 1787. | Party affiliation: Vanguard. Religion: low-cost investing.

User avatar
BogleFanGal
Posts: 554
Joined: Mon Mar 20, 2017 6:59 pm

Re: [Auto insurance companies issuing refunds due to coronavirus]

Post by BogleFanGal » Thu Apr 09, 2020 8:56 pm

crickets from my insurer - checked and they said "no changes" :annoyed
"Life would be infinitely happier if we could only be born at the age of eighty and gradually approach eighteen." Mark Twain

RudyS
Posts: 1846
Joined: Tue Oct 27, 2015 10:11 am

Re: USAA to Return $520 Million to Members

Post by RudyS » Thu Apr 09, 2020 9:27 pm

arcticpineapplecorp. wrote:
Thu Apr 09, 2020 4:05 pm
BGeste wrote:
Thu Apr 09, 2020 3:56 pm
arcticpineapplecorp. wrote:
Thu Apr 09, 2020 3:35 pm
yeah, got an email from Geico yesterday. they're returning 15% of premiums on auto and motorcycle on next bill (between 4/8/20 and 10/7/20).
Geico is offering the discount on a full six months. Much better than the 2 months offered by other companies.
Glad I'm with Geico then.
My email said the 15% is on next renewal. I have a one year policy. Had to pressure them to issue it that way and I think it happened only because MA law requires that option.

SchruteB&B
Posts: 300
Joined: Mon Jul 02, 2018 7:48 am

Re: [Auto insurance companies issuing refunds due to coronavirus]

Post by SchruteB&B » Thu Apr 09, 2020 9:34 pm

Erie said in an email they would adjust rates at renewal pending regulatory approval. So if I didn’t renew with them in a few months when my policy is up, I guess I get nada. :annoyed

LifeIsGood
Posts: 835
Joined: Mon Feb 11, 2008 8:43 pm
Location: Atlanta, GA

Re: [Auto insurance companies issuing refunds due to coronavirus]

Post by LifeIsGood » Fri Apr 10, 2020 5:47 am

Auto Owners is offering 15% on 2 months worth of premiums.

HawkeyePierce
Posts: 1323
Joined: Tue Mar 05, 2019 10:29 pm
Location: Colorado

Re: [Auto insurance companies issuing refunds due to coronavirus]

Post by HawkeyePierce » Fri Apr 10, 2020 10:23 am

I received an email from Liberty Mutual that I'll be getting a 15% refund from two months' premiums.

Looking forward to my twelve bucks. :mrgreen:

new2bogle
Posts: 1561
Joined: Fri Sep 11, 2009 2:05 pm

Re: [Auto insurance companies issuing refunds due to coronavirus]

Post by new2bogle » Fri Apr 10, 2020 11:27 am

Amica providing 20% off auto premiums in Apr and May.

User avatar
Nate79
Posts: 6036
Joined: Thu Aug 11, 2016 6:24 pm
Location: Delaware

Re: [Auto insurance companies issuing refunds due to coronavirus]

Post by Nate79 » Fri Apr 10, 2020 11:50 am

Nationwide to give their customers $50 refund each:

https://www.dispatch.com/business/20200 ... -customers
Nationwide is giving each of its personal auto policyholders a $50 refund because of the coronavirus outbreak.

While other insurers have been giving money back to policyholders based on fewer claims because drivers are stuck at home, Nationwide is stressing that its effort is meant to get money to customers who have been hurt by the outbreak.

The refund amounts to an average savings of 15% over two months and is on top of existing discounts customers already earn. It will be returned to customers in the last form of payment they have made, whether electronic or by check.

Random Poster
Posts: 2182
Joined: Wed Feb 03, 2010 10:17 am

Re: [Auto insurance companies issuing refunds due to coronavirus]

Post by Random Poster » Fri Apr 10, 2020 12:30 pm

new2bogle wrote:
Fri Apr 10, 2020 11:27 am
Amica providing 20% off auto premiums in Apr and May.
Thanks for the news!

jharkin
Posts: 2571
Joined: Mon Mar 28, 2016 7:14 am
Location: Boston suburbs

Re: [Auto insurance companies issuing refunds due to coronavirus]

Post by jharkin » Fri Apr 10, 2020 12:38 pm

new2bogle wrote:
Fri Apr 10, 2020 11:27 am
Amica providing 20% off auto premiums in Apr and May.
Saw that. Going to be a whopping $20 or so per car.

Not complaining though, they don't have to do this and they have always treated us well.....

new2bogle
Posts: 1561
Joined: Fri Sep 11, 2009 2:05 pm

Re: [Auto insurance companies issuing refunds due to coronavirus]

Post by new2bogle » Fri Apr 10, 2020 3:18 pm

jharkin wrote:
Fri Apr 10, 2020 12:38 pm
new2bogle wrote:
Fri Apr 10, 2020 11:27 am
Amica providing 20% off auto premiums in Apr and May.
Saw that. Going to be a whopping $20 or so per car.

Not complaining though, they don't have to do this and they have always treated us well.....
Yup. My guess is dividends this year will be higher too.

User avatar
BogleFanGal
Posts: 554
Joined: Mon Mar 20, 2017 6:59 pm

Re: [Auto insurance companies issuing refunds due to coronavirus]

Post by BogleFanGal » Fri Apr 10, 2020 6:28 pm

jharkin wrote:
Fri Apr 10, 2020 12:38 pm
new2bogle wrote:
Fri Apr 10, 2020 11:27 am
Amica providing 20% off auto premiums in Apr and May.
Saw that. Going to be a whopping $20 or so per car.

Not complaining though, they don't have to do this and they have always treated us well.....
exactly. To me, it's not the amount, but that they at least voluntarily did something...$20 is a night of takeout...2 bottles of fairly decent wine...4 streaming movies...

On the other hand, my insurance company offered nothing - and I wouldn't be surprised if they actually RAISE my auto rate when the policy comes due in a couple of months. Just have too much going on to deal with switching companies this year.
"Life would be infinitely happier if we could only be born at the age of eighty and gradually approach eighteen." Mark Twain

GeraniumLover
Posts: 225
Joined: Mon Feb 22, 2016 3:39 pm

Re: [Auto insurance companies issuing refunds due to coronavirus]

Post by GeraniumLover » Sat Apr 11, 2020 10:33 am

Plymouth Rock is refunding 25% of the premiums for Liability and Personal Injury Protection Coverages, beginning April 1 and continuing as long as the stay-at-home order is in effect. They are also waiving deductibles on accidents healthcare workers get into while commuting to workor in the line of duty.

Are other companies also limiting the refund to just certain coverages and not the entire premium? The biggest premiums on my Plymouth Rock policy are for collision and comprehensive coverages, which don't seem to be included in this relief.


Alan S.
Posts: 9691
Joined: Mon May 16, 2011 6:07 pm
Location: Prescott, AZ

Re: [Auto insurance companies issuing refunds due to coronavirus]

Post by Alan S. » Sat Apr 11, 2020 11:11 am

The lemming effect is taking over now, so likely the vast majority of companies will be issuing rebates in some form. Very bad PR if they don't. Besides, they are likely retaining far more of their windfall profits than they are rebating.

When accident attorneys cannot find clients, rebate times have arrived! :twisted:

User avatar
fizxman
Posts: 284
Joined: Mon Oct 24, 2011 9:44 am
Location: Harrisburg, PA

Re: [Auto insurance companies issuing refunds due to coronavirus]

Post by fizxman » Sat Apr 11, 2020 11:27 am

Progressive is crediting 20% on April and May premiums.

"Subject to approval by state regulators, Progressive personal auto customers who have a policy in force as of April 30th will be credited 20% of their April premiums in May and personal auto customers with a policy in force as of May 31st will be credited 20% of their May premiums in June. We estimate that the sum of these two credits will total approximately $1 billion. Customers will not need to take any actions to receive the benefits. The credits will be applied automatically to the customers’ policy and those customers who have paid in full will receive a refund of the credited amounts."

https://progressive.mediaroom.com/2020- ... -customers

User avatar
LadyGeek
Site Admin
Posts: 63963
Joined: Sat Dec 20, 2008 5:34 pm
Location: Philadelphia
Contact:

Re: [Auto insurance companies issuing refunds due to coronavirus]

Post by LadyGeek » Sat Apr 11, 2020 11:30 am

I have Farmers and just received this email:
Farmers is reducing auto insurance premium by 25% for the month of April on Farmers branded policies

We recognize that due to various stay‑at‑home directives, customers are driving less. In light of this, during the month of April we are reducing auto insurance premiums by 25% on Farmers branded and 21st Century branded policies. No action is needed from you, as the reduction will be applied automatically as a credit on your next billing statement. If you recently paid your account in full, we will issue you a refund for the amount of the reduction. As the situation progresses, we will determine if further action is required.

We know that many of our customers may be facing financial challenges during this time and we want to help. In addition to complying with any state mandated actions, we are making adjustments to allow extra time for you to pay for your Farmers® - branded Auto, Home, Umbrella, and Specialty policies.

Pausing Cancellations ‑ We have temporarily paused policy cancellations due to non-payment...

Renewals ‑ We also understand that some customers who intend to renew their insurance with Farmers may be experiencing financial difficulty...
Details are at: COVID-19 Notice : Farmers Insurance
Wiki To some, the glass is half full. To others, the glass is half empty. To an engineer, it's twice the size it needs to be.

GeMoney
Posts: 84
Joined: Sun Jul 28, 2019 11:15 am

Re: [Auto insurance companies issuing refunds due to coronavirus]

Post by GeMoney » Sat Apr 11, 2020 12:17 pm

MetLife is offering 15% plus other perks https://finance.yahoo.com/news/metlife- ... 00707.html

vm81
Posts: 50
Joined: Fri Jan 03, 2020 2:24 pm

Re: [Auto insurance companies issuing refunds due to coronavirus]

Post by vm81 » Sat Apr 11, 2020 7:52 pm

I think its only Geico thats handling it close to correctly. Most of these companies giving you 15% off for april and may is a joke. Basically they are still making you pay 85% of your premium for the time you are not driving.

I feel anyone who is really not driving the car will come out much better actually adjusting their policy (something insurance companies dont want you to do) - drop collision, reduce mileage to almost 0, assign it pleasure instead of commute. You can always change it back up once you stary driving.

The way these insurance companies are handling it is ridiculous.

NorCalHiker
Posts: 54
Joined: Tue Mar 01, 2011 2:39 am

Re: GEICO 15% credit for auto/motorcycle renewal

Post by NorCalHiker » Sat Apr 11, 2020 8:42 pm

eye.surgeon wrote:
Wed Apr 08, 2020 1:39 pm
I called Geico hours before this announcement and the CSR recommended I lower the annual mileage to the lowest option which is 250 miles. He said Geico is good with that until June. He did it for me and it lowered my premium about $200 for 6 months, there are 4 cars on the policy. This is in addition to the 15% discount presumably.
I was going to call up GEICO and see about lowering my mileage for both our cars, but this might bite us going forward since my renewal notice is coming up shortly. If my policy is $1K for 12K miles and I lower the mileage to 3K miles and my premium is lowered, then the one-time 15% discount is applied on the lowered mileage policy. WHat happens in 3 months when I have to increase my mileage limits after life gets back to normal (hopefully)?

User avatar
tooluser
Posts: 617
Joined: Sat Oct 01, 2011 7:04 pm

Re: [Auto insurance companies issuing refunds due to coronavirus]

Post by tooluser » Sat Apr 11, 2020 8:53 pm

Since my umbrella insurance is tied into my auto insurance, that should go down too.
Since my home insurance is tied into my car insurance, that should go down too.
Since my earthquake insurance is tied into my home insurance, that should go down too.

In my dreams.

User avatar
whodidntante
Posts: 8354
Joined: Thu Jan 21, 2016 11:11 pm
Location: outside the echo chamber

Re: [Auto insurance companies issuing refunds due to coronavirus]

Post by whodidntante » Sat Apr 11, 2020 9:08 pm

The sidewalk in front of the whodidntante estate has seen an increase in foot traffic, and I'm having more packages and more food delivered. The slip and fall hazard increase is significant. Also, since I'm home and cooking more often, it's more likely that I'll burn my house down. How much will our homeowner's policies go up? :twisted:

talzara
Posts: 1016
Joined: Thu Feb 12, 2009 7:40 pm

Re: [Auto insurance companies issuing refunds due to coronavirus]

Post by talzara » Sun Apr 12, 2020 12:27 pm

vm81 wrote:
Sat Apr 11, 2020 7:52 pm
I think its only Geico thats handling it close to correctly. Most of these companies giving you 15% off for april and may is a joke. Basically they are still making you pay 85% of your premium for the time you are not driving.
GEICO has a history of pricing aggressively in downturns. After the 2008-2009 financial crisis, many insurers kept their rates unchanged for years. GEICO filed multiple rate decreases and picked up a lot of market share.

Since Allstate struck first with a rebate, GEICO has to respond with a rebate. They can't wait for the next rate filing to reduce their rates, like they did in previous downturns.

However, it is better to be insured by a mutual or an exchange. Participating policies will get much larger rebates in the form of dividends. If they save 15%, they'll pay a 15% dividend. If they save 70%, they'll pay a 70% dividend. You'll wait longer to get the money, but you'll get more money refunded to you.

With a pay-per-mile (PPM) insurance policy, the savings are automatic and immediate. You pay for every mile that you drive, so you don't pay for miles that you don't drive. Many PPM policyholders were very low-mileage drivers to begin with, so their mileage may not decrease much during the pandemic. However, they were saving that money all along.

talzara
Posts: 1016
Joined: Thu Feb 12, 2009 7:40 pm

Re: [Auto insurance companies issuing refunds due to coronavirus]

Post by talzara » Sun Apr 12, 2020 12:31 pm

whodidntante wrote:
Sat Apr 11, 2020 9:08 pm
The sidewalk in front of the whodidntante estate has seen an increase in foot traffic, and I'm having more packages and more food delivered. The slip and fall hazard increase is significant. Also, since I'm home and cooking more often, it's more likely that I'll burn my house down. How much will our homeowner's policies go up? :twisted:
Fire and liability claims may increase. However, water damage and theft claims should decrease. It's hard to tell which effect will be larger.

User avatar
Harry Livermore
Posts: 393
Joined: Thu Apr 04, 2019 5:32 am

Re: [Auto insurance companies issuing refunds due to coronavirus]

Post by Harry Livermore » Tue Apr 14, 2020 4:48 am

Got an email from PURE. They are going to rebate 15% of auto premiums for the duration of "stay at home".
We pay +/- $5,150 per year for three cars. So that's $429 per month. The 15% rebate comes out to $64.35 per month that we stay home.
So, as some others have noted, it's a nice gesture.
Cheers

talzara
Posts: 1016
Joined: Thu Feb 12, 2009 7:40 pm

Re: [Auto insurance companies issuing refunds due to coronavirus]

Post by talzara » Tue Apr 14, 2020 11:12 am

The preliminary data shows a 43% drop in highway crash risk in California.
In California, collisions on state highways dropped precipitously between March 1 and April 12 compared to the same period last year, according to preliminary data from the California Highway Patrol’s Statewide Integrated Traffic Records System. ... Statewide, the total number of crashes dropped 43% to 16,066 this year and fatal collisions dropped by 84% — to 31 from 194. These numbers exclude accidents responded to by agencies other than the CHP.

https://www.sfchronicle.com/business/ne ... 196074.php
Here's a list of the auto insurers that are now providing "refunds, discounts, dividends and credits." This adds up to more than 80% of the auto insurance market.
State Farm and Nationwide late last week joined the ranks of the top 10 auto insurers providing relief that already included Geico, Progressive, Allstate, USAA, Liberty Mutual, Farmers, Travelers and American Family.

In addition, since late last week the following insurers have also announced offers: Erie, Hanover, CSAA, Chubb, Cincinnati Financial, Kemper, MetLife Auto & Home, Mercury, Plymouth Rock, NJM, Auto-Owners, Amica, Shelter, Arbella, Selective, Encova, Mapfre and Union Mutual.

https://www.insurancejournal.com/news/n ... 564510.htm

doss
Posts: 356
Joined: Tue Nov 01, 2011 9:52 am

Re: [Auto insurance companies issuing refunds due to coronavirus]

Post by doss » Thu Apr 16, 2020 10:36 am

Yep. AAA sent me an email (Missouri) stating we are getting a refund.

User avatar
ram
Posts: 1590
Joined: Tue Jan 01, 2008 10:47 pm
Location: Midwest

Re: [Auto insurance companies issuing refunds due to coronavirus]

Post by ram » Thu Apr 16, 2020 3:30 pm

Recd a letter from Amica that there will be a 20% discount for 2 months.
20% x 2/12 = 3.33 % annual discount.
Ram

User avatar
Sheepdog
Posts: 5557
Joined: Tue Feb 27, 2007 3:05 pm
Location: Indiana, retired 1998 at age 65

Re: [Auto insurance companies issuing refunds due to coronavirus]

Post by Sheepdog » Thu Apr 16, 2020 3:39 pm

VERY interesting. I received my auto insurance billing today (The Hartford) and it went UP 15%, same car!!! They will receive a call tomorrow
“One moment of patience may ward off great disaster. One moment of impatience may ruin a whole life.” — Chinese Proverb

DSInvestor
Posts: 11279
Joined: Sat Oct 04, 2008 11:42 am

Re: [Auto insurance companies issuing refunds due to coronavirus]

Post by DSInvestor » Thu Apr 16, 2020 3:54 pm

Sheepdog wrote:
Thu Apr 16, 2020 3:39 pm
VERY interesting. I received my auto insurance billing today (The Hartford) and it went UP 15%, same car!!! They will receive a call tomorrow
Maybe you should call GEICO also.
Wiki

User avatar
Sheepdog
Posts: 5557
Joined: Tue Feb 27, 2007 3:05 pm
Location: Indiana, retired 1998 at age 65

Re: [Auto insurance companies issuing refunds due to coronavirus]

Post by Sheepdog » Thu Apr 16, 2020 6:37 pm

DSInvestor wrote:
Thu Apr 16, 2020 3:54 pm
Sheepdog wrote:
Thu Apr 16, 2020 3:39 pm
VERY interesting. I received my auto insurance billing today (The Hartford) and it went UP 15%, same car!!! They will receive a call tomorrow
Maybe you should call GEICO also.
Until now. GEICO has always been my HIGHEST quote....Really! I will try again and let you know.
“One moment of patience may ward off great disaster. One moment of impatience may ruin a whole life.” — Chinese Proverb

User avatar
cheese_breath
Posts: 9569
Joined: Wed Sep 14, 2011 7:08 pm

Re: [Auto insurance companies issuing refunds due to coronavirus]

Post by cheese_breath » Thu Apr 16, 2020 7:01 pm

talzara wrote:
Thu Apr 09, 2020 4:09 pm
doss wrote:
Thu Apr 09, 2020 6:44 am
Anyone heard anything from AAA auto insurance? I am not happy with them (non virus related) and hoping they refund premiums soon.
There are three major auto insurers that share the brand name AAA. Each of them operates independently of the others. Which one are you with?
Got an Email from AAA Texas yesterday. They're giving me "a 20% premium refund for the time your policy was in effect from March 16th to May 15th". Now don't know if everybody gets it, or just me 'cause I'm such a nice guy. :shock:
The surest way to know the future is when it becomes the past.

User avatar
beyou
Posts: 3084
Joined: Sat Feb 27, 2010 3:57 pm
Location: Northeastern US

Re: [Auto insurance companies issuing refunds due to coronavirus]

Post by beyou » Fri May 22, 2020 5:45 am

Wow, just got back $50 from Allstate.


Next up, dental insurance. Can’t go but keep paying.

bayview
Posts: 2217
Joined: Thu Aug 02, 2012 7:05 pm
Location: WNC

Re: [Auto insurance companies issuing refunds due to coronavirus]

Post by bayview » Fri May 22, 2020 7:11 am

Got an email earlier this week from USAA that they were issuing an additional refund (second one.) Not huge, but nice.
The continuous execution of a sound strategy gives you the benefit of the strategy. That's what it's all about. --Rick Ferri

Chip
Posts: 2996
Joined: Wed Feb 21, 2007 4:57 am

Re: [Auto insurance companies issuing refunds due to coronavirus]

Post by Chip » Fri May 22, 2020 7:30 am

A reminder for everyone who is driving less -- reduce your annual mileage estimate to your current and expected driving. You can always change it back if/when things change again.

It was a 25% reduction in premiums for me.

Post Reply