By Kristen Buchman on April 9, 2020
Allstate and American Family were two of the first carriers to announce their programs, so we’ve included examples of their programs below. However, other carriers are also announcing their programs this week and we expect to continue to receive more details on the logistics of these refunds.
Allstate is providing a credit for 15% of April and May premiums. As mentioned above, how a policy owner receives this credit is based upon the carrier. Allstate will either refund the bank account or credit card on file or apply a credit to the Allstate account. Other carriers are adjusting premiums due in May and June based on the refund due or the refund will be reflected in the next policy renewal.
American Family has structured their program slightly different by offering $50/vehicle under a policy. These funds will be sent to policy owners via check.
There may be additional benefits available under these programs, so be sure to check with your carrier or insurance agent. For example, free identity protection, expanded coverage for drivers who use vehicles to make deliveries, waived late fees, flexible payment options, and pausing cancellations.
Most companies are ensuring that these refunds are set up automatically, so no action is necessary on your part, except to keep an eye out for savings!
If you have any questions regarding your auto insurance, please contact us or your insurance agent. We are glad to assist.