Auto Insurance Companies Return $800M In Premiums

ALLSTATE AND AMERICAN FAMILY INSURANCE IS RETURNING A TOTAL OF $800 MILLION IN PREMIUMS TO CUSTOMERS

(CNN) – Some auto insurance companies are giving money back to their customers because people are driving less during the pandemic.

Allstate says it will refund about 15% of premiums paid by costumers in April and May for a total of $600 million.

American Family Insurance says it’s giving back about $50.00 per car,  for a total of $200 million.

Both insurance companies say they are expanding coverage for customers who use their own vehicles to deliver food and medicine during the COVID-19 outbreak.

It’s unclear if other insurers will follow suit, but Progressive says it is exploring options.

Categories: US News