Due to the preventive recommendations issued by the authorities for the coronavirus pandemic, fewer cars are on the streets. This is allowing some insurance companies to offer refunds and even waive late fees as a way to support and provide relief to their customers.
What Auto Insurance Companies are Offering Refunds?
It is important to mention that we highly recommend to contact us for help in managing your specific situation, Many of our carriers might also offer other benefits besides the ones mentioned here for you.
The following carriers that we represent at Skylake Insurance Agency are offering refunds and other forms of relief to their customers.
This carrier announced to be returning $1 billion in premium to its customers. They created the Apron Relief Program to provide extra support during the COVID-19 crisis. Progressive customers will receive a 20% credit. “Starting April 1, 2020, we’ll waive late fees and hold off on canceling or non-renewing any active policies due to non-payment through May 15, 2020.” Visit: https://www.progressive.com/support/covid19/ to learn more.
For their Personal Auto policyholders, Kemper’s CEO announced credits of 15% of April and May premiums. Customers do not need to take any extra action, the credit will be automatically processed and applied to your policy. If you have paid in full, you will receive a refund fo the credited amounts. Read the full communication from Kemper here: https://bit.ly/2RKGzNo.
This company is also providing support with a 15% credit on the April and May premiums with their Stay-at-Home Auto Premium Credit Program. “We are committed to standing with our customers, agents, and brokers, and this is one more step we’re taking to help ease some of the financial burden many are experiencing.”. Their billing relief options can be found here: https://www.travelers.com/about-travelers/covid-19-billing-relief.
Like most auto insurance companies, Mercury is also offering a 15% credit for April and May 2020 for their Private Passenger Auto customers. “We recognize that the COVID-19 crisis has altered driving patterns, resulting in fewer accidents and claims, so we are giving back 15% of monthly personal auto insurance premiums for two (2) month-long periods.” Read their full statement here: https://www.mercuryinsurance.com/assets/docs/alerts/Mercury-Insurance-Coronavirus-COVID-19-Readiness.pdf .
As mentioned in their statement, Universal Property & Casualty is providing a 30-day payment grace period when applicable and also waiving all late payment penalties and fees. They are also providing at the customer’s request, premium installment plans and additional time to perform certain duties under the policy. If you are a Universal Property client, please contact your agent if you need any help in making any of these benefits effective for you.
UAIC – United Automobile Insurance Company
In response to their customers’ requests for any type of assistant during the COVID-19 crisis, UAIC is offering some relief as well. Payment plans will have due date extensions. They are also enabling the ability to reinstate a policy from 10 to 15 days after cancellation.
This auto insurance carrier is waiving all the late fees for the next 30 days starting on April 8, 2020. In an effort to help their customers, Ocean Harbor Casualty is also providing flexible reinstatements, meaning that you can reinstate your policy up to 30 days without generating any lapse in coverage, this is a great option since, as we all know, lapses in coverage can hurt your rates.
In their COVID-19 update, they mentioned similar relief options for their clients. This insurance company will be extending payment due dates as well as not causing a lapse in coverage when reinstating your policy within 10 days after cancellation.
Granada Insurance Company
To help their customers having difficulty making their payments when due, Granada will help clients by waiving any late fees on their Direct Bill Payment Program until May 1, 2020. Additionally, policy cancellations will be calculated on a prorated basis, providing immediate 10% extra savings to their policyholders.
Visit the website of your carrier for any updates on their relief programs if your insurance company is not listed here. We will update the information as soon as we receive confirmation from the other carriers.
We are here for you. If you have any questions or if you need assistance please feel free to contact us. Our specialized agents are ready to help you. Call us at (855) 267-0900 or visit skylakeinsurance.com/contact