COVID Impact on Auto Insurance

   / COVID Impact on Auto Insurance #1  

KennyG

Elite Member
Joined
Jan 13, 2011
Messages
4,323
Location
SW Michigan
Tractor
John Deere 2320
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?
 
   / COVID Impact on Auto Insurance #2  
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.
 
   / COVID Impact on Auto Insurance #3  
Texas Farm Bureau gave me a 2 month 15% rebate, about $30.
 
   / COVID Impact on Auto Insurance #4  
State Farm gave me a rebate, also.
 
   / COVID Impact on Auto Insurance #5  
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.
 
   / COVID Impact on Auto Insurance #6  
Have gotten a couple of rebate checks from USAA. Grateful....
 
   / COVID Impact on Auto Insurance #7  
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.
 
   / COVID Impact on Auto Insurance #8  
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,
 
   / COVID Impact on Auto Insurance #9  
3 rebates from USAA so far!
 
   / COVID Impact on Auto Insurance #10  
 
Top