With stay-at-home orders dramatically limiting driving across the country, U.S. auto insurers have seen a drop in auto insurance claims. Many are passing on their savings to policy holders in one way or another.
The pay back comes in the form of credits, refunds or rebates, depending on the insurance company.
Here is a list of what some of the largest auto insurers are offering:
- Progressive will give customers with a policy in place as of April 30 a 20% credit on their April premium in May, and those with a policy in place as of May 31 a 20% credit of the May premium in June.
- State Farm will give most policy holders a 25% credit for their premiums between March 30 and May 31, though State Farm said the percentage will vary by state.
- Liberty Mutual will provide a 15% refund on two months of its policy holders’ annual premium.
- Geico will provide a 15% credit for customers whose policies come up for renewal between April 8 and Oct. 7. Its credit applies to new policies taken out during the same period.
- Allstate is giving customers a 15% rebate on their existing auto insurance policy premium.
- American Family Insurance is providing a one-time $50 payment for each vehicle insured under a personal auto insurance policy.
- Farmers Insurance is giving its policy holders a 25% reduction in April premiums.
- USAA is giving policy holders a 20% credit for two months of premiums.
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