INSURANCE NERDS
BLOG
Personal Auto Customers in the U.S. to Receive Credits due to COVID-19
Applicable to Progressive, Travelers & Nationwide Policyholders
Nationwide Personal Auto Customers
In efforts to support their customers during the #COVID19 emergency, Nationwide announced that subject to state regulations, their personal auto customers in the U.S. will receive a one time $50.00 per policy premium refund for personal auto policies that have been active since March 31, 2020.
*Note, you DO NOT need to take any actions to receive this benefit. The credit will be applied automatically to your policy, and refunds will automatically be credited to the customer’s most recent method of payment (automatic withdrawal, credit card, personal check) within the next 30 days. The premium refund and timing are subject to individual State Departments of Insurance approval.
If you’re looking for additional ways to save money on your auto insurance, please reach out to our experts who can help assess how new offers such as SmartRide (usage-based insurance program) or SmartMiles (for low mileage drivers) could be a fit for you.
Travelers Personal Auto Customers
Likewise, in efforts to support their customers during the #COVID19 emergency, Travelers Insurance announced that subject to state regulations, personal auto customers in the U.S. will receive a 15% credit on their April and May premiums.
*Note, that you DO NOT need to take any actions to receive these benefits. The credits will be applied automatically to your policy and those customers who have paid in full will receive a payment of the credited amounts. If you have a balance on the policy, Travelers will apply the credit directly to the remaining balance — will be reflected in your accounts within a few weeks after the month’s end.
Progressive Personal Auto Customers
Additionally, in efforts to support their customers during the #COVID19 emergency, Progressive announced that personal auto customers who have had a policy in force as of April 30th, will be credited 20% of their April premiums in May and customers with a policy in force as of May 31st will be credited 20% of their May premiums in June. (Subject to approval by state regulators). Additional credits in the upcoming months may also be offered.
*Note, that you DO NOT need to take any actions to receive these benefits. The credits will be applied automatically to your policy and those customers who have paid in full will receive a payment of the credited amounts — this will be reflected in your accounts within a few weeks after the month’s end. If you have a balance on the policy, Progressive will apply the credit directly to the remaining balance.
Rest assured, Team Fulcro will continue to monitor the effects of the coronavirus situation and share updates as needed as we look for additional ways to help.