Navigating the Insurance Landscape Amidst COVID-19: Refunds, Support Programs, and Community Aid

Auto Insurance Refunds

U.S. auto insurers are returning over $10 billion to customers nationwide, according to an Insurance Information Institute estimate, in response to reduced driving during the pandemic. Many companies are offering refunds or credits, with Allstate Corp. CEO Tom Wilson announcing a second round of rebates that would vary according to region. Horace Mann, a provider of affordable insurance for educators, is giving customers a credit of 15 percent of two months of auto premiums, as well as a grace period through June on various insurance payments.

Other Customer Support Programs

Erie Insurance is adding gift card and gift certificate reimbursement coverage to its ErieSecure Home® policies, in response to recent changes affecting businesses across the United States. This additional feature, included at no additional cost, would reimburse customers for remaining balances on eligible gift cards that can no longer be used at independently owned and operated local businesses due to business closures.

Supporting Communities

Foremost Insurance and Bristol West Insurance, members of the Farmers Insurance Group of Companies, have contributed $500,000 to the Trusted Choice COVID-19 Relief Fund established by the Independent Insurance Agents & Brokers of America, Inc. (IIABA – Big “I”). Horace Mann donated $100,000 to DonorsChoose “Keep Kids Learning” fund, an initiative to help teachers equip the most vulnerable students with educational materials at home.

In conclusion, while the insurance industry faces unprecedented challenges due to COVID-19, many companies are stepping up with innovative solutions and community support. For consumers, it's crucial to stay informed about any available refunds or credits and to reach out to their insurers for more information.