By: Megan Kossow
What is your insurance company doing to help you during the COVID-19 Pandemic?
We understand that during these trying times, many of our customers may be struggling with financial challenges. Due to these challenges, many of the insurance companies we represent are finding ways to help relieve some financial burden on our clients! Many companies are still coming out with plans to help you, but these are the ones that we know of so far! (We will update and add insurance company plans as necessary).
Safeco has come out with their Personal Auto Customer Relief Refund. This refund will return approximately $250 million to Safeco clients! Here's how it works:
- Personal Auto customers will receive a 15% refund on TWO months of their auto premium (based on your premium as of 4/7/20
- The refunds will be issues in the manner you made your most recent payment or by check
- Refunds will be issued in the coming weeks after approval of state insurance regulators
- Your refund will happen automatically, there is nothing that you need to do to receive your refund
Progressive announced they will be providing credits of approximately $1 billion in premium to Progressive personal auto clients as a result of fewer claims that come with less driving. Here's how it works:
- Subject to approval by state regulators, personal auto customers who have an active policy, by April 30th will be credited 20% of their April premiums in May
- Personal Auto customers who have an active policy by May 31st will be credited 20% of their May premiums in June
- Customers do not need to take action to receive the credit, it will automatically be applied to the customer's policy
- Those who have paid in full will receive a payment of the credited amount
Nationwide has started a relief refund and is taking other steps to lessen the burden as well. Here's what they are doing:
- Personal Auto customers will be receiving a one time premium refund of $50 per policy for personal auto policies that were active as of March 31st
- The premium refund and timing are subject to individual state regulatory approval
- For Home, Auto & Business customers, Nationwide can suspend cancellations for some policies, defer payment deadlines, and waive some late fees
- Home and auto customers can contact them at 877-669-6877, and business customers can reach them at 888-508-8622
- For business customers Nationwide is making coverage available for existing restaurant and retailer exposures who now engage in delivery services due to COVID-19
- Business customers may also request mid-term adjustments related to reducing exposures for customers
- Claims reporting is still available around the clock & will be processed in a way that is safe for customers and associates
- Pet insurance customer who have pet health related questions but are unable to visit a vet can call the 24/7 helpline at no charge: 855-331-2833
Kemper Auto Insurance:
Kemper Auto (Infinity) announced they are providing approximately $100 million in premium relief to personal auto customers. Here's how it works:
- Clients who have a policy in force as of April 30th will receive a 15% credit on their April premium in May
- Clients who have a policy in force as of May 31st will receive a 15% credit on their May premium in June
- Kemper Auto is also committing $1 million to organizations focused on critical issues including food insecurity and supporting front-line medical personnel
- All credits are subject to approval from regulators
- The credits will be applied directly to customers policies, no action needs to be taken to receive the credit
- If you paid in full for your policy customers will receive a payment of the credited amount
Mutual of Enumclaw Insurance:
Mutual of Enumclaw is introducing the COVID-19 Recovery Credit for Personal Auto & Homeowner customers. Here's how it works:
- Moe has announced flexible billing plans and waiving of late fees
- They will begin applying a $50 credit upon renewal for member's 12 month term policies
- They will apply a $25 credit upon renewal for member's 6 month term policies
- And customers with Homeowners policies will receive a $10 credit upon renewal
- Pending approval, customers will automatically receive the credit at renewal and do not need to take action to receive credit
Electric Insurance has announced their own COVID-19 pandemic relief. Here's how it works:
- They will be returningg 15% of three months auto insurance premium to policyholders
- They are working to send customers a check ASAP over the next few weeks, subject to state regulator approval
- In the mean time late fees will be waived, cancellations of policies due to non-payment because of COVID-19 will be deferred, and late payment grace periods are being extended.
Many of our other insurance carriers are taking steps to help you out of hardship as well by waiving late fees and creating flexible billing plans. If you are curious as to how your insurance company is helping you, feel free to call one of our agents & ask! Our agents are available Monday-Friday 8am-5pm via phone call, web-chat, or text message!
You can reach our agents at 877-917-5295 via phone or use our ChatBot to chat.
Headquartered in Tucson, Arizona, RIGHTSURE is an Insurance Technology firm leveraging cutting edge products with Artificial Intelligence and Insur-tech relationships to help families and businesses in 42 states. By using a unique, client-centered approach, combined with superior technology, RIGHTSURE presents clients with a wide range of Insurance options and a seamless purchasing process. To learn more, visit https://www.rightsure.com or call 520-917-5295.