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Wednesday, April 08, 2020

Car insurance companies will give customers back $800 million in premiums because no one is driving during coronavirus shutdowns

Major U.S. car insurance companies say they will return at least $800 million in premiums over the next few months because Americans are driving much less due to stay-at-home orders aimed at curbing the coronavirus outbreak.

Allstate Corp, one of the largest U.S. auto insurers, said on Monday that most customers will receive a 'payback' of 15 percent of their monthly premium in April and May, totaling about $600 million.

'Given an unprecedented decline in driving, customers will receive a Shelter-in-Place Payback,' said Allstate CEO Tom Wilson. 'This is fair because less driving means fewer accidents.'

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15 comments:

  1. Believe it when I see it!! This whole scenario is nothing more than theft by ALL people in Washington

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  2. I'll believe that when I see it. Insurance Companies to not part with your money.

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  3. Allstate, Geico and many others, but NOT State Farm!

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    Replies
    1. I didn't see Geico in that article..

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  4. Attached to this was info that Linda Tripp has passed. Ole Hillary is partying tonight for sure. And Bill is wiping his brow going WHEW!.

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  5. Don't count on it, insurance companies have been screwing us customers for years!

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  6. They ALL should be Ordered to by Fed Govt !!!

    Otherwise, won't happen most likely !!! Don't Hold your breath !!!!

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    Replies
    1. Are you a literal COMMUNIST?

      What is wrong with you?
      Don’t believe in private for-profit business?

      Delete
  7. Nice! Step up State Farm!

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  8. The insurance companies will refund money as fast as Hillary ordered help in Benghazi.

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  9. My wife is an insurance agent with All State. Most insurance companies are refunding a portion of premiums to its customers.

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  10. Another thought, golf courses are shut down and wonder if the owners will offer compensation for those who pay up front for a years dues. This would only be fair.

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  11. Insurance companies are the biggest con artists . Involved in accident due to mfg defect, found not at fault. Never had an accident in my life. Progressive raised my rate over 30% and then told me that if I was at fault the rate increase would have been less ? Completely insane and criminal ! Somebody help me explain this to me .

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  12. State Farm is a money hungry outfit. They won't part with a penny. I am seriously thinking of changing ins. companies.

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  13. What is a good company to switch to from State Farm? Is The Hartford Ins. Co. good?

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