COVID Impact on Auto Insurance

[KennyG]

I've been wondering what would happen to insurance rates due to the reduced driving and congestion from the COVID shutdown. I kind of expected to get a larger than usual dividend check since I have insurance from a Mutual company. However, I just got my 6 month premium notice for my truck and found it was reduced by 35%. Nice surprise! Are others seeing this?

 

[fried1765]

I've been wondering what would happen to insurance rates due to the reduced driving and congestion from the COVID shutdown. I kind of expected to get a larger than usual dividend check since I have insurance from a Mutual company. However, I just got my 6 month premium notice for my truck and found it was reduced by 35%. Nice surprise! Are others seeing this?

Yup......similar with USAA.

 

[WM75Guy]

Texas Farm Bureau gave me a 2 month 15% rebate, about $30.

 

[oosik]

State Farm gave me a rebate, also.

 

[Dftodd]

I got a letter from my insurance company stating they were issuing me a small refund shortly after the lockdown.

The reason was do to less miles being driven. They assumed I was stuck at home and not driving anywhere. I chose not to correct them since we were both still working and driving the same amount.

 

[neverfailyou]

Have gotten a couple of rebate checks from USAA. Grateful....

 

[JethroB]

Texas Farm Bureau gave me a 2 month 15% rebate, about $30.

I received a piddling $17 check from Auto Owners in early summer. It took me a couple of months to remember to make the trip to deposit at my bank. I would have preferred an account credit but I don’t think that is allowed (by ?). Maybe my rates will drop on the next annual renewal, would be nice.

 

[Jstpssng]

I got a letter from my insurer this spring, announcing that they were giving a 15% premium refund on auto policies for the months of April and May. I waited and waited, then realized I wasn't getting it because I have a commercial policy. For some reason I save money on my initial premium by doing it that way though, so don't miss that refund,

 

[bnold]

3 rebates from USAA so far!

 

[bcp]

State Farm gave me a rebate, also.

State farm raised ours about 10%. Complained. No action yet.



Bruce