Health Care

Auto insurers refunding millions due to stay-at-home policies

NYC streets empty amid coronavirus pandemicVideo

NYC streets empty amid coronavirus pandemic

Footage shows popular tourist destinations in Manhattan near empty as the city is reacting to the coronavirus pandemic.

Get all the latest news on coronavirus and more delivered daily to your inbox.  Sign up here.

Allstate and American Family Insurance have begun discounting car insurance premiums since many drivers aren’t using their cars as much due to stay-at-home policies aimed at slowing the spread of the coronavirus. Allstate said most customers can expect a 15 percent refund in April and May, along with holders of Esurance and Encompass policies, while American Family Insurance is returning $50 per vehicle.

Coronavirus leaves California freeways empty, police warn of uptick in drivers speeding over 100 mphVideo

“It is real dollars we expected to pay out this year and no longer have to pay out, American Family COO Telisa Yancy told the Wall Street Journal. “We are sharing it back right now when our customers probably most need it.”

According to the journal, American Family customers drove 40 percent fewer miles in the last three weeks of March, resulting in fewer claims.

THE BEST WAY TO CLEAN CORONAVIRUS FROM CARS

Allstate estimated the program at $600 million, while American Family said it will return approximately $200 million to its customer base.

Coronavirus causes empty Chicago streetsVideo

The two insurers were the first major companies to institute a blanket refund program, while others, including GEICO and State Farm, are encouraging customers to contact them to discuss their policies based on their new driving patterns.

Many insurers have also extended their grace periods for late payments before canceling coverage, and with company policies changing day-to-day in response to the crisis.

CLICK HERE TO GET THE FOX NEWS APP

Article source: http://feeds.foxnews.com/~r/foxnews/section/lifestyle/~3/MUsJ3tsyvwA/car-insurers-refunds-stay-at-home-policies-coronavirus

Related posts

California boy uses sled trick to yank out loose tooth

Times of News

Refugee family plans surprise grocery delivery for former sponsor isolating during coronavirus outbreak

Times of News

NY health officials warn on possible measles exposure

Times of News