The COVID-19 pandemic has impacted every part of daily life, from sheltering in place to lost paychecks. While car insurance is no exception, the good news is that every major provider has pledged to help Americans in need like never before. To separate fact from fiction, we spoke with experts and analysts across the country to determine exactly how the coronavirus crisis will affect your car insurance.
Is my insurer going to give me money back?
Are you due some cash back from your car insurance company? Here’s a list of major carriers’ premium adjustment programs. More companies may join the bandwagon, and the specifics vary from one provider to another, so be sure to check with an insurer’s website or your insurance agent for further details.
21st Century: 25 percent discount for April premiums.
Allstate: 15 percent discount for April and May premiums.
American Family Insurance: $50 cash refund for every car covered.
Amica: 20 percent credit on April and May premiums.
Auto Owners Insurance: 15 percent refund for April and May premiums.
Chubb: 35 percent discount for April and May premiums upon renewal.
Cincinnati Insurance and Casualty: 15 percent credit for April and May premiums.
CSAA: 20 percent refund for two months’ premiums.
Encova: 15 percent discount for April and May premiums.
Erie: Erie Insurance announced $200 million in rate reductions for both personal and commercial auto customers which represents an overall 5% discount for at least 12 months at renewal or policy initiation.
Farmers Insurance: 25 percent discount on April premiums.
Liberty Mutual: 15 percent refund on two months of paid premiums beginning April 7.
Hanover Insurance Group: 15 percent discount for April and May premiums.
Kemper: 15 percent credit on April and May premiums.
MetLife Auto and Home: 15 percent credit for April and May premiums.
Mercury Insurance: 15 percent credit for paid premiums in April and May.
Nationwide: A one-time $50 credit for each active policy as of March 31.
Next Insurance: 25 percent reduction in paid April premiums.
Progressive: 20 percent discounts on April and May premiums.
Safeco: 15 percent refund on two months of paid premiums beginning April 7.
State Farm: Average credit of 25 percent on premiums paid from March 20 through May 31; actual percentages will vary by state.
The Travelers: 15 percent credit for April and May premiums.
USAA: A 20 percent credit will be granted to customers for two months of coverage as of March 31.