Shelter-in-Place Auto Insurance Payback

[azred]

Progressive is issuing credits for a couple months but a couple weeks ago sent me a renewal quote larger than my existing 6 month premium. There were no claims or tickets, just greedy bastards who bragged to the media about their Covid rebates while silently raising renewal rates.

Car insurers must be having a great year courtesy of Covid. But I wouldn’t be shocked if they also tried to get CARES financial support like the Lakers and Shake Shack.

 

[TX_M3P+]

Another way to immediately reduce your insurance costs is to reduce your miles.

How's that? Do insurance companies track your mileage somehow?

 

[jeremymc7]

How's that? Do insurance companies track your mileage somehow?

Allstate allows me to state mileage and get lower rates at various mileages. As long as you don’t go substantially over that mileage there no issues. Not sure what happens if you do. They do ask you to fill out a mileage statement one or twice a year providing an update. They have the option to require you to come in for inspection as well but that only happened once 20 years ago when I changed policies. I’ve done some quotes with Tesla insurance as well and they let you put in your target mileage as well. I’m in California so your “mileage” may vary in other states.

 

[lUtriaNt]

you call into them and tell them you are driving less. many cats have done this on here and have had instant results.

 

[Daniellane]

I received this In an email from my carrier (Travelers) on 4/9/20...

Update from Travelers

To Our U.S. Personal Auto Insurance Customers:

We know that many of you are doing your part to help stop the spread of COVID-19 by staying at home. That means many of you are driving fewer miles, resulting in a decrease in auto claims.

With that in mind, we have launched the Stay-at-Home Auto Premium Credit Program, which will automatically give you a 15% credit on your April and May premiums. It’s our way of supporting you, and we hope it helps ease some of the financial burden many are experiencing.

We will continue to assess the program as more information comes to light about the impact of the COVID-19 crisis on the driving environment and auto claims. We are working with regulators to obtain all the necessary approvals.

And the best part: You don’t need to do anything. If you pay by monthly installments, you will receive the automatic credit on future bills. If you have already paid in full, you will receive a direct payment.

Answers to questions that you may have about this program can be found here.

Separately, we continue to provide auto coverage for customers across the country whose job responsibilities now include using their personal vehicles to make food, grocery, pharmacy and medical supply deliveries. (This does not apply to those who are working for transportation network companies.)

The Stay-at-Home Auto Premium Credit Program is among several initiatives we have launched to provide relief during this challenging time. These include suspending cancellation and nonrenewal of coverage due to nonpayment through May 15 – there will be no interest, late fees or penalties charged during this time. We also have pledged $5 million to COVID-19 relief effortsto assist families and communities across North America, the United Kingdom and the Republic of Ireland.

We appreciate your business and hope you stay healthy and safe.

Be well,

Michael Klein
Executive Vice President and President, Personal Insurance

 

[cucubits]

How's that? Do insurance companies track your mileage somehow?

Not all of them. I had 10k miles per year on my policy, asked to change it 1k and my premium didn't go down at all.

 

[john5520]

Should be getting mine soon from Progressive (20%).

 

[RayK]

It's only for the month of April, I got the same email too. $44.25 is about 15% in your scenario, $2000 per 6 months means $333.33 a month, sounds about right.

Ah, yes, I misread their email. Refund is only for April. I assume that until the lockdown is over we will be getting monthly refunds.

 

[puckpurnell]

Got this from USAA this morning: "One result of the COVID-19 pandemic is fewer drivers on the road and fewer accident claims, so we're returning a portion of your premium to you. You will receive an auto policyholder dividend equal to 20% of two months of auto insurance premiums. There is no need to call or take any action. To keep it simple, the following amount will be credited to your next bill:

$70.81"

 

[JATinNH]

Have Ameriprise through Costco (now called Connect/American Family Insurance)... they are issuing a refund check that represents 15% of 3 months of premiums. Of course, this was after I received a renewal notice that showed my next 6-month premium increasing by 18%. The insurance god giveth and the insurance god taketh away.

 

[Garlan Garner]

Anyone else get there's.

Allstate sent mine overnight. $30.83 on a six month multi-car policy/

Yep, I got mine from Allstate.

At least its something.

 

[JayNJ]

Progressive is crediting 20% for two months to every one. Only about $36 for me, but better than nothing. I usually drive about 600 miles a week and now it is down to 8 so I guess they are coming out ahead still.

 

[TX_M3P+]

I just talked to my State Farm agent and will be getting a 25% discount on each vehicle I have insured (currently 3) that will be applied to my June bill.

 

[jeremymc7]

With so many others saying they got a discount, but their renewal has gone up I need to check Allstate to see if they're doing the same trickery.

 

[RayK]

With so many others saying they got a discount, but their renewal has gone up I need to check Allstate to see if they're doing the same trickery.

re: Allstate. My wife said my car went up about $200 (for 6 months) from the last period.

Going to call my agent to report that since I'm now semi-retired my mileage is drastically down from last year.