Update 4/20/20: On Thursday, April 16th, Westfield announced they will also be reimbursing personal auto premiums. More details below.
Strate Insurance Group is happy to bring good news to its Family Insurance customers. Travelers Insurance Company, Progressive, Safeco Insurance Company, and the Cincinnati Insurance Companies announced this week they are offering premium refunds to auto customers during the months of April and May.
The insurance companies recognize many of their customers are doing their part to help stop the spread of COVID-19 by staying at home. That means many of them are driving fewer miles, resulting in a decrease in auto claims.
Details on each program are below:
- Travelers Stay-at-Home Auto Premium Credit Program: automatically gives U.S. personal auto insurance customers a 15% credit on their April and May premiums.
- Progressive: subject to approval by state regulators, Progressive personal auto customers who have a policy in force as of April 30 will be credited 20% of their April premiums in May; personal auto customers with a policy in force as of May 31 will be credited 20% of their May premiums in June. Progressive estimates that the sum of these two credits will total approximately $1 billion.
- Safeco Personal Auto Customer Relief Refund: Safeco will return an estimated $250 million to Safeco’s personal auto insurance customers. Personal auto insurance customers will receive a 15% refund on two months of their auto premiums, as of April 7, 2020, pending regulatory approval. The refunds will begin in April and will be issued either by check or in the manner you made your most recent payment. The payments will happen automatically.
- The Cincinnati Insurance Companies: auto clients will receive a 15% credit per policy on their April and May premiums – pending regulatory approval. No action is required to receive this discount.
- Westfield: Westfield Personal Auto customers will receive a 15 percent credit of their eligible monthly auto premium for the months of April, May, and June 2020, subject to regulatory approval. Customers with an active Personal Auto policy as of April 30, 2020, will receive the full credit to their account in the month of May 2020.
“We are proud to partner with companies like Travelers, Progressive, Safeco, and Cincinnati who have a strong sense of corporate responsibility,” said Tom Strate, President of Strate Insurance Group.
Strate Insurance Group expects more carrier partners to follow suit and announce reimbursement programs in the following weeks.