Coronavirus : Car Insurance Companies offering Refunds

Cronin Insurance Agency The Wise Choice

Want some good news during the Coronavirus pandemic?

The Coronavirus has drastically reduced traffic due to stay at home orders. Fewer cars on the highway, have resulted in fewer car accidents.

Fewer accidents have resulted in lower claims pay-outs for Car Insurance companies. In an effort to help the country during these troubled times, some Car Insurance companies have decided to return some premiums to their insureds.

It’s their way of helping the country get through the Coronavirus pandemic over the next few months.

We are proud to announce that our Car Insurance companies have offered to pitch in.

Read below to see what Progressive, Mercury, Travelers, and Safeco have planned to refund to their customers.

Progressive to return $1 billion to customers

Progressive returns $1 billion in premium to customers
Today we announced that we’re providing credits of approximately $1 billion in premium to Progressive personal auto customers as a result of fewer claims that come with less frequent driving. Subject to approval by state regulators, Progressive personal auto customers who have a policy in force as of April 30 will be credited 20% of their April premiums in May and personal auto customers with a policy in force as of May 31 will be credited 20% of their May premiums in June. We estimate that the sum of these two credits will total approximately $1 billion. We may offer additional credits in the upcoming months.

Progressive CEO Tricia Griffith explained, “We understand how difficult and uncertain people’s lives are right now. While auto insurance might not be the most pressing topic on everyone’s mind, we know that finances could be. For our customers who have trusted us to be there in their times of need, we’re fulfilling that promise. We want them to know how much we care.”

Mercury Private Passenger Auto coronavirus Relief

Recognizing that many customers are driving their vehicles less as a result of shelter-in-place actions, Mercury plans to give back 15% of monthly premiums for April and May 2020. This applies to all Mercury Private Passenger Automobile policyholders.
Customers will receive their Givebacks in the same manner their premiums were paid. As soon as we receive guidance and approval from the Department of Insurance, we expect to begin processing the payments.  
Mercury recognizes we are in an unprecedented time and would like to reiterate our commitment and support to you and our shared customers.

Safeco Personal Coronavirus auto relief fund

Taking care of our customers, employees and agents is a top priority for Safeco. We recognize the uncertainty and financial challenges many of our joint customers are facing as the nation bands together to slow the spread of the coronavirus. To help Safeco customers, we have taken the following actions:

Personal Auto Customer Relief Refund

Fewer drivers are on the road, which means fewer accidents. With this in mind, we are announcing our Personal Auto Customer Relief Refund, which will return approximately $250 million to our Liberty Mutual personal lines and Safeco auto customers. Here’s how it works:

  • Personal auto insurance customers will receive a 15% refund of 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. Customers do not need to call Safeco to receive the refund. 

Travelers insurance offers relief to car customers

Taking Care of Our Customers
  • Providing billing relief for all U.S. customers, including suspending cancellation and nonrenewal of coverage due to nonpayment through May 15, 2020 (no interest, late fees or penalties will be charged).
  • Giving U.S. personal auto insurance customers a 15% credit on their April and May premiums.

We are proud to represent Car Insurance from some of the best companies in the industry.

Their willingness to offer car insurance refunds without any public outcry or pressure from any government agency reflects their commitment to their customers.

So when you are shopping for car insurance, remember Progressive, Mercury, Safeco and Travelers when making your choice. They will be with you in good times and hard times.

And so will Cronin Insurance Agency.

Low rates, choice of (GREAT) companies and personal advice.

Cronin Insurance is the Wise Choice.


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