[Update] – I got my policy rebate today! It’s paid monthly but still nice to see some money back in my bank accounts.
As part of our Apron Relief Program, we issued you a premium credit on 05/11/2020. Your credit amount was $17.84. This amount represents a 20% credit of your premium for the month of April. If you keep your personal auto policy active through the end of May, you’ll have another premium credit coming your way—that credit will be issued sometime in June.
I recently got an email from my auto insurance company (progressive) with a link to their website that said this:
Personal auto premium credit – If you have an active personal auto policy at the end of April, you’ll receive a credit for 20% of your April premium. We’ll offer the same 20% credit to active personal auto customers at the end of May, and we may offer additional credits in the upcoming months. There’s nothing you need to do. We’ll automatically calculate your credit at the end of each month, and then you’ll see it reflected in your account within a few weeks.
Progressive
How awesome is that! Given the times we are in the stimulus checks, UI boost and now this credit is going to be a huge help to many Americans facing varying degrees of economic hardship
Here are what other major insurance companies have said that they’ll be doing given everyone is driving far less then before due to the coronavirus pandemic and hence the lower probability of accidents. This and state legislation is allowing insurance companies to return millions of dollars back to policyholders.
Allstate Shelter-in-Place Payback – On average, personal auto insurance customers will receive 15% money back based on their monthly premium in April and May. Allstate will automatically deposit money back to the bank or credit card account used for a customer most recent payment, or apply credits to accounts.
Geico is giving a 15% credit to its auto and motorcycle policyholders for policies set to come up for renewal over the the next six months. The company says the credit will also apply to new policies which are purchased during that period. No additional action is needed.
State Farm policyholders will get a 25% credit on average for the weeks between March 30 and May 31 under their Good Neighbor (COVID-19) Relief Program. However the percentage awarded will vary by state.
Allstate, Geico, State Farm websites
Most auto insurance companies are also offering a number of other relief benefits and rebates during these tough times. This includes coverage assistance if you cannot pay your premiums and holding off on cancelling or not renewing any active policies due to non-payment through May.
If you have auto insurance you should definitely be seeing some of these premium credits or rebates and if not call your insurance company ASAP as several states are now mandating companies offer partial credit premiums.