Average refunds will equal 15 percent of the customer’s April or May auto insurance policy.
It’s clear that Coronavirus has a devastating effect on the lives of people around the globe. The latest data from World Health Organization shows that there have been over 1.2 million COVID-19 confirmed cases worldwide, and that 67,767 people have died. Almost everyone is affected, particularly in the financial sector. There are a few businesses and governments that can help. Allstate is the latest company to offer assistance. hero
Allstate calls it the Shelter-in–Place Payback initiative. The name says it all. The company has seen a decrease in accident claims due to more people working remotely and less driving. It will therefore refund auto insurance customers an average 15% on their premiums based on April and May premiums. Allstate estimates that the payout amounts to more than $600 million. This applies to 18,000,000 policies, as well as the affiliate companies Esurance or Encompass, according to Automotive News.
Allstate Identity Protection is now completely free for people who work from home or use online services more often. The perk is not limited to Allstate customers. It’s available to all eligible U.S residents who sign up in April or May regardless of their current insurance company. Allstate also offers delayed payment plans to customers who need it.
Automotive News reports that Allstate analysed data and found that current driving miles have fallen between 35- 50 percent in many states regardless of shelter-in place orders. California-based Next Insurance is also mentioned in the report as offering a 25% discount on commercial auto premiums for April. Family Insurance, a Wisconsin-based company, will also refund $200 million to its customers starting in mid April.