Insurance Companies Giving Credits
With everyone sheltering in place, there have been much fewer drivers on the road. One additional benefit of this is that many insurance companies, including Allstate, Geico, and Liberty Mutual, will extend credits to their clients.
As an example, here is what Liberty Mutual is doing:
- Personal auto insurance customers will receive a 15% refund on two months of their annual auto premium as of April 7, 2020, pending regulatory approval.
- The refunds will begin in April, and will be issued either by check or in the manner the customer made their most recent payment.
- The payments will happen automatically and customers do not need to call Liberty Mutual to receive the refund.
Payment Flexibility Options
- Late fee charges have been automatically stopped and cancellations due to non-payment have been temporarily paused for personal auto and home customers from March 23 through at least May 22, 2020.
- They will continue to work with individual customers to extend payment dates if needed and provide personalized support.
Delivery Coverage Expansion for Auto Policies
More Newsletter Stories For You...
- All personal auto policies have been expanded to cover customers who use their personal vehicles to deliver food and medicine. Standard Safeco personal auto policies typically exclude such coverage.
- This additional protection is in effect for all personal auto policies in all states for losses occurring from March 16 to May 22, 2020, and reported by July 1, 2020.