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Are Car Insurance Companies Refunding Money Because of Coronavirus?

The attorneys and staff at the Reiff Law Firm are dedicated to providing our clients with professional, personalized service. Our sympathetic and experienced lawyers work diligently for those unfortunate individuals injured in auto accidents. Through our years of representing injured drivers and passengers, our intimate knowledge of the insurance industry has grown. In this time of crisis, many insurance companies are offering certain aids to their customers, including various forms of financial help. If you have car insurance but aren’t driving because of the coronavirus pandemic, you might wonder, “Are car insurance companies refunding money because of coronavirus?” To find out, keep reading as the Pennsylvania legal team at the Reiff Law Firm explains.

Insurance Companies Offering Discounts, Refunds, and Credits in Pennsylvania

To mitigate and address the coronavirus pandemic, businesses are shut down, stay-at-home orders are in effect, millions of people are working from home, and many normal activities we took for granted a few short weeks ago have ceased. One of the chilling images airing on multiple media outlets are roads and highways devoid of traffic. People are staying home and not driving for work, travel, school, or recreation.

Many insurance companies are responding to these coronavirus business interruptions and resulting drastic drop in traffic and car accidents by lowering their premium rates or offering refunds. As of April 13, 2020, these insurance companies have committed to providing their clients with refunds. Other companies are also indicating that they will be crediting or refunding payments to their customers. As this situation changes daily, and insurance companies continue to amend their policies, it is important to contact your insurance provider.

Allstate, one of the nation’s leading auto insurers, will be refunding 15% of their policy-holders’ premiums for April and May.

American Family Insurance is going to provide their auto customers with a one-time payment of $50 per vehicle insured.

Esurance will be electronically refunding 15% of April and May payments on active policies. The payments will be made electronically if possible, and if not, a check will be mailed.

Farmers Insurance has announced that customers of Farmers and 21st Century April premiums will automatically be reduced by 25%.

Geico will be offering a 15% credit on all motorcycle and auto insurance policies that renew between April 8, 2020 and October 7, 2020. This same discount will be offered to new customers during this same period.

The Harford is giving a 15% refund for April and May for all policies that were in effect as of April 1, 2020.

Liberty Mutual, beginning in April, will automatically refund its customers 15% of two months of their annual premium.

Nationwide is offering its clientele a $50 payment for each auto insurance policy.

Progressive Insurance is providing its customers a 20% credit on April and May personal auto insurance policies that are current.

State Farm, the nation’s largest auto insurance company, announced that its customers would receive an average of 25% credit on premiums for personal auto insurance policies for March 20, 2020 to May 31, 2020. The exact amount will vary from state to state.

Travelers is offering a 15% credit for April and May.

USAA, a company that serves current and former military personnel, will credit its members 20% of two months of premiums.

Other Assistance Offered in Pennsylvania by Auto Insurance Companies

People across Pennsylvania and the country have lost their jobs and are tightening their budgets during the COVID-19 crisis. In addition to offering discounts, credits, and refunds, many insurance companies are also delaying cancelations and deferring premium payments. Other insurers are no longer requiring people who make deliveries of food or transport healthcare workers to carry additional commercial premiums. As this is a fluid situation, you should check your insurance carrier’s website or call your agent to see what relief programs are currently in place. Also, not all insurance companies have instituted national policies addressing the pandemic but are willing to work with their clients facing financial hardships.

Additional Steps to Take

The COVID-19 pandemic has altered the way many people live. In addition to the discounts and refunds being offered by many insurance carriers, other steps could potentially lessen your financial burden. Many insurance companies offer discounts based on mileage driven. You should contact your insurance company to see if the discount is available and if your payments could be reduced now. Also, consider adjusting some of your policy limits if you are not driving at the moment.

Call our Experienced Pennsylvania Personal Injury Attorneys if you have Concerns or Questions

The Philadelphia personal injury attorneys and staff at the Reiff Law Firm hope you and your family are staying healthy and safe during the Coronavirus pandemic. Our attorneys have over 35 years of experience, offering our clients an unwavering passion for results and justice. If you all (215) 709-6940 to schedule a free consultation.

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