With highways and roads abandoned as motorists stay home during the COVID-19 health crisis, the nation’s biggest auto insurers are offering policyholders $10.5 billion in credits and reduced premiums, according to the Insurance Information Institute. Fewer cars on the road typically means fewer accident claims. According to Arity, a data and analytics firm owned by… Continue reading Auto Insurers Issuing $10.5B in Coronavirus Refunds
Tag: COVID-19 auto insurance
Geico to Return $2.5 Billion in Credits to Auto & Motorcycle Customers
Warren Buffett’s Geico plans to offer insurance-policy credits to its auto customers as driving declines because of the widespread coronavirus-related shutdowns. Geico, owned by Buffett’s Berkshire Hathaway Inc., will provide a 15% credit to its auto and motorcycle customers when their policies come up for renewal between April 8 and Oct. 7, the insurer said… Continue reading Geico to Return $2.5 Billion in Credits to Auto & Motorcycle Customers
Auto Insurers Give Millions in Coronavirus Refunds
One of the largest car-insurance companies in the country, Allstate Corp., and a smaller Midwestern auto insurer are refunding hundreds of millions of dollars to their policyholders, citing a dramatic drop in accident claims from Americans hunkered down in their homes. Allstate said it would dispatch more than $600 million in shelter-in-place payback checks, while… Continue reading Auto Insurers Give Millions in Coronavirus Refunds