Why Are Insurance Companies Giving Back Money
Lm otero ap.
Why are insurance companies giving back money. State farm and other car insurance companies are giving refunds due to coronavirus how you can get yours. Two companies announced they plan to give back about 800 million to their customers since people are driving so much less right now. Most of us aren t getting 50 of our premiums back.
Then consumer pressure began. More recently state farm geico and progressive are also giving money back. Insurance companies need to extend this payback indefinitely.
But the industry is saving even more during the pandemic even after subtracting the payments being made to policyholders. Car insurers are giving billions back to drivers. State farm has announced it will cut premiums by 25 percent on policy premiums between march 20 and.
Auto insurance companies including allstate geico and liberty mutual said they will give policyholders millions of dollars back because americans are driving less during the coronavirus pandemic. Two insurers allstate and american family insurance announced monday they will give back about 800 million to their auto insurance customers because people are driving far less during the. Car insurance companies are giving people money back since no one is driving.
Several insurance companies giving back millions to customers there s been a trend in the last couple weeks of insurance companies refunding millions of dollars to their policyholders due to the. Now that a few of the bigger companies are offering money back during a time.
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