Money Saving

COVID-19 Auto Insurance Refunds – Are You Getting One?

Several auto insurance providers are putting money back in your pocket due to COVID-19.

With so many staying safer at home, people are driving less, therefore lessening the risk for auto accidents. So in response, most companies are offering reduced premiums, although a couple of companies will be issuing refunds. And the best part… you don’t need to apply for these programs – the refunds and discounts are going to be applied automatically.

Below is a list of several auto insurance companies and a brief synopsis of what they are planning to offer. For more details, please click on the link for your car insurance provider.


Progressive Apron Relief Program

If you have an active personal auto policy at the end of April or May, Progressive will be issuing a 20% premium credit, meaning your bill for the month will be lower. They are offering this in April and May for active policies.


State Farm Good Neighbor Relief Program

State Farm customers can expect to receive what they are calling a Dividend Credit of about an average of 25% of premiums owed during March-May. (This works out to be about $20/month for each insured vehicle).


Liberty Mutual Personal Auto Customer Relief Refund

Liberty Mutual customers with personal auto insurance policies will receive a 15% refund on two months of their auto premium, based on their premium amount as of April 7, 2020.

The refund will be made by check or whatever payment method you used to pay your most recent bill.


The GEICO Giveback

GEICO plans to credit customers 15% for their next full policy term. So when your policy renews, you’ll see a discount of 15%.


Nationwide Premium Refund

Nationwide is offering a one-time premium refund of $50 per policy for personal auto policies active as of March 31, 2020.


Farmers Insurance

Farmers will be reducing April premiums by 25% on Farmers® branded and 21st Century® branded personal auto insurance policies.

This reduction will appear on your next billing statement


Allstate

Allstate auto insurance policy holders will be receiving an average of 15% money back, based on their monthly premium in April and May.

Money will be automatically deposited back to the bank or credit card account which was used for a customer’s most recent payment, or credits will be applied their accounts.