A number of auto insurance companies are giving money back in one of three ways: a refund, a credit, or a reduction in your premium.
A majority of auto insurance companies are returning billions of dollars back to drivers.
It’s all because we’re not behind the wheel as much.
In fact, data shows travel dropped about 50% since all those “stay at home” orders began.
A number of auto insurance companies are giving money back in one of three ways: a refund, a credit, or a reduction in your premium.
Companies like State Farm, Geico, and USAA are among those giving credits between 20 and 25%.
Then there are companies like Allstate, Liberty Mutual, and American Family.
They’re issuing refunds ranging from $50 dollars per covered vehicle to 15% of your premium.
Others are giving drivers a temporary reduction in their premiums, including Farmers Insurance.
You will receive the relief anytime between now and June, according to carinsurance.com based on your insurer.
The good news is whatever form your insurance company is doing should automatically come to you or be applied to your account.
And if your insurer isn’t, consumer advocates say it’s a good time to reach out to them to see what they can do.
You have leverage right now as companies try to hold on to customers.
