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:
Believe it when I see it!! This whole scenario is nothing more than theft by ALL people in Washington
I'll believe that when I see it. Insurance Companies to not part with your money.
Allstate, Geico and many others, but NOT State Farm!
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!.
Don't count on it, insurance companies have been screwing us customers for years!
They ALL should be Ordered to by Fed Govt !!!
Otherwise, won't happen most likely !!! Don't Hold your breath !!!!
I didn't see Geico in that article..
Nice! Step up State Farm!
The insurance companies will refund money as fast as Hillary ordered help in Benghazi.
My wife is an insurance agent with All State. Most insurance companies are refunding a portion of premiums to its customers.
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.
Are you a literal COMMUNIST?
What is wrong with you?
Don’t believe in private for-profit business?
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 .
State Farm is a money hungry outfit. They won't part with a penny. I am seriously thinking of changing ins. companies.
What is a good company to switch to from State Farm? Is The Hartford Ins. Co. good?
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