Reduced auto insurance premiums

[mystang52]

Haven't heard anything from Progressive. But maybe this will mean no increases for a couple of years? My premium has been same for 2 years already, so a few more no-increases would be fine with me.

 

[gwraigty]

Farmer's Insurance is reducing auto insurance premiums by 25% for April. They're monitoring the situation and may consider doing the same for May and June, if they feel it's warranted. No word on how this money will come back to us. CC refund? Credit on the next bill?

 

[Amethyst]

They raise our premium every 6 months, claiming it's because claims are rising. So I imagine the net effect, for us, may be a premium that merely doesn't go up.

I received my letter from GEICO late last night. The 15% credit applies to policies renewing between April 8th and October 7. Mine just renewed on April 6, so I will have to wait a while . But, no worries here either way.

 

[target2019]

USAA refunding $520M sounds great. The real number for us (2 cars) will be about $90 credit for 2 months (45 x 2).

By the end of the year we may get rid of car #2.

 

[JoeWras]

Amica's policy is to send refund checks if claims are lower than expected (no share holders to grapple with). This next round, I guess the check will be bigger than usual.

Email just arrived from Amica.

20% of premiums for April and May returned.

 

[RetiredAt55.5]

State Farm Dividend Announcement

Have heard nothing from State Farm. But, they usually only want to increase premiums - not decrease. Not holding my breath.

Here you go -

https://newsroom.statefarm.com/covid-19/

"In an effort to help customers during these challenging times, State Farm Mutual Automobile Insurance Company, the nation’s largest auto insurer, is announcing up to a $2 billion dividend that will go to its auto insurance customers. With schools and businesses closed, and many of us sheltering in our homes, people are driving less right now, so we’re returning value to customers as we anticipate fewer auto claims.

Customers do not need to take any action to receive this dividend, which will appear as a credit on their auto policy.

The dividend is part of the Good Neighbor Relief Program that also includes customer payment options and neighborhood philanthropic relief. This is the single largest dividend paid to customers in our company’s history. As the national leader in auto, home, and individual life insurance, State Farm has the financial strength necessary to help millions of customers and communities recover from the unexpected.

On average, State Farm Mutual auto customers can expect to receive a credit of about 25 percent of premium for the time period March 20 through May 31; exact percentages will vary by state. Every State Farm Mutual auto insurance customer will receive credits applied against bills beginning as early as June. We’ll continue to monitor our loss experience and respond appropriately."

 

[jazz4cash]

Just saw email from Nationwide. $50 refund per policy even though we have 4 cars on the policy. Much appreciated. Seems more reasonable than a stimulus check when my income hasn’t been impacted. Plus these guys are buying me a new roof!!

 

[Lienlord]

Progressive giving 20% credit in April and again in May. Possibly more in future months.

 

[Dtail]

Liberty Mutual is also giving a 15% refund on 2 months of premiums. Better than nothing.
We are driving less, but not tons less as we still like to take drives down country roads for temporary escape.

 

[athena53]

Farmer's Insurance is reducing auto insurance premiums by 25% for April. They're monitoring the situation and may consider doing the same for May and June, if they feel it's warranted. No word on how this money will come back to us. CC refund? Credit on the next bill?

My notification from Farmers said it will be a credit on the next bill. Not a major amount in my case- under $30.

I suppose if you don't renew with them you get a check eventually.

 

[Golden sunsets]

State Farm will credit 20% for two months starting with June bills.

 

[scrabbler1]

Given that I just paid my latest 6-month State Farm auto policy a few weeks ago, I guess I won't see the credit until October. I remember getting a check or credit from them many years ago, but I have to sort through my records to see when and for how much and how I got it (check or credit).

 

[Willers]

Here you go -

https://newsroom.statefarm.com/covid-19/

"In an effort to help customers during these challenging times, State Farm Mutual Automobile Insurance Company, the nation’s largest auto insurer, is announcing up to a $2 billion dividend that will go to its auto insurance customers. With schools and businesses closed, and many of us sheltering in our homes, people are driving less right now, so we’re returning value to customers as we anticipate fewer auto claims.

Customers do not need to take any action to receive this dividend, which will appear as a credit on their auto policy.

The dividend is part of the Good Neighbor Relief Program that also includes customer payment options and neighborhood philanthropic relief. This is the single largest dividend paid to customers in our company’s history. As the national leader in auto, home, and individual life insurance, State Farm has the financial strength necessary to help millions of customers and communities recover from the unexpected.

On average, State Farm Mutual auto customers can expect to receive a credit of about 25 percent of premium for the time period March 20 through May 31; exact percentages will vary by state. Every State Farm Mutual auto insurance customer will receive credits applied against bills beginning as early as June. We’ll continue to monitor our loss experience and respond appropriately."

Thanks for the info!

 

[mn54]

contacted Acuity Insurance about any rebate. they said there will be no rebate. if you have driven less miles than normal to include that information when you renew your insurance. thanks a lot.

 

[Luvdogs]

I did not receive any communication from Auto-Owners Insurance but went into their site and saw--

Due to a reduction in travel across the nation caused by the COVID-19 pandemic, we will be providing a 15% premium refund to our personal automobile policyholders for the months of April and May.

This refund will be processed upon regulatory approval in your state.

 

[Car-Guy]

Got these comments (bold) in an email from Framers a day or so ago.

Farmers® is reducing auto insurance premium by 25% for the month of April on Farmers branded and 21st Century® branded policies. As the situation progresses, we will determine if further action is required.

In my case that should be worth about $25

 

[jazz4cash]

It did cross my mind that it would be a great time to get rated on one of those plug in trackers that analyze your driving behavior. I think some of them are left in place all the time just like the Buy Here Pay Here auto dealers.

We have more cars than drivers and our current insurance company informed us they no longer offer low mile discounts. They use the tracker instead which they said to leave in place for 6 months but they suspended the tracking after 3 months.

There are also some companies including Allstate that offer pay per mile insurance so they should automatically off some relief.

 

[jpeter1093]

From Safecoersonal Auto Customer Relief Refund
Fewer drivers are on the road, which means fewer accidents. With this in mind, we are announcing our Personal Auto Customer Relief Refund, which will return approximately $250 million to our customers. Here’s how it works:
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Personal auto insurance customers will receive a 15% refund on two months of their auto premium, based on your premium amount as of April 7, 2020.1
Bulleted Icon
We are planning to issue the refund in the manner you made your most recent payment or by check.
Bulleted Icon
We will begin issuing refunds in the coming weeks, after we have approval from state insurance regulators.
Bulleted Icon
Your refund will happen automatically, and you do not need to call us to get your refund.

 

[Dtail]

From Safecoersonal Auto Customer Relief Refund
Fewer drivers are on the road, which means fewer accidents. With this in mind, we are announcing our Personal Auto Customer Relief Refund, which will return approximately $250 million to our customers. Here’s how it works:
Bulleted Icon
Personal auto insurance customers will receive a 15% refund on two months of their auto premium, based on your premium amount as of April 7, 2020.1
Bulleted Icon
We are planning to issue the refund in the manner you made your most recent payment or by check.
Bulleted Icon
We will begin issuing refunds in the coming weeks, after we have approval from state insurance regulators.
Bulleted Icon
Your refund will happen automatically, and you do not need to call us to get your refund.

The Liberty Mutual refund program and announcement is the same word for word.

 

[sheehs1]

I received a letter from Travelers last week. Their Stay At Home Auto Premium Credit Program is a 15% credit for April and May premiums. Since I pay for the full year, I am to receive a check.

 

[PatrickA5]

Here you go -

https://newsroom.statefarm.com/covid-19/

"In an effort to help customers during these challenging times, State Farm Mutual Automobile Insurance Company, the nation’s largest auto insurer, is announcing up to a $2 billion dividend that will go to its auto insurance customers. With schools and businesses closed, and many of us sheltering in our homes, people are driving less right now, so we’re returning value to customers as we anticipate fewer auto claims.

"

Thanks!

Hopefully, the $2 billion will show up in my account soon.

 

[gayl]

On USAA's home page right now:

"USAA to return $520 million to members.
At USAA, serving the military community is our mission. That’s more important now than ever as our members deal with the COVID-19 pandemic. USAA is returning $520 million to members with auto policies. Learn more about this action, special programs, tools and other steps we’re taking to help members during these uncertain times."

From the link it further states:

"Every member with an auto insurance policy in effect as of March 31, 2020, will receive a 20% credit on two months of premiums in the coming weeks. All told, we're returning about $520 million. You will not need to call or take any other action."

[emoji106]

 

[frank]

anyone heard from west bend insurance? with my luck probably not.

 

[athena53]

anyone heard from west bend insurance? with my luck probably not.

Here you go.

https://www.thesilverlining.com/

Don't spend your $50 all in one place!

 

[frank]

Here you go.

https://www.thesilverlining.com/

Don't spend your $50 all in one place!

thanks for the info. couldn't find it.