COVID- 19: Auto Insurance Companies Issue Credits
Auto Insurers to Issue Refunds to Policyholders Due to the Significant Decrease in Accidents During the Pandemic
As a result of the pandemic and the Stay at Home orders issued by most states in the U.S., there are fewer cars on the road. Less cars on the road has resulted in less accidents. With a decrease in the number of accidents in March and April, auto insurance companies have boosted their profits. One of the largest insurance companies, Allstate, announced that it will return 15 percent of its customers’ premiums for the months of March and April. Allstate reports that these refunds total more than $600 million. A smaller, midwestern insurance company, American Family Mutual Insurance Company, has also said that it will issue refunds totaling over $200 million to its policyholders. It is anticipated that other insurance companies will make similar moves.
If you have been injured in a car accident, Giroux Pappas Trial Attorneys can help. We are continuing to work during this pandemic and we are here for you. Please call our office for a free consultation.