Automobile insurance companies Allstate, Progressive, and GEICO are issuing COVID-19 rebates as motorists spend less time on the road due to stay-at-home orders.
GEICO is issuing a COVID-19 rebate of 15% of the auto insurance premium when the policy comes up for renewal between April 8 and October 7, 2020.
Current policyholders can expect to see the credit when their policy renews. They do not need to take any action to receive this credit.
Progressive’s COVID-19 rebate is 20% of the auto insurance premium.
“Many of you are staying home to minimize exposure and spread of COVID-19. While you’re doing your part to fight the pandemic, we’re committed to being there in your time of need,” Progressive stated on its website.
“If you have an active personal auto policy at the end of April, you’ll receive a credit for 20% of your April premium. We’ll offer the same 20% credit to active personal auto customers at the end of May, and we may offer additional credits in the upcoming months.”
Progressive will automatically calculate the credit at the end of each month, and then policyholders will see the refund reflected in their account within a few weeks.
If there is a balance on your policy, the refund will be directly applied to your remaining balance.
And if you’re already paid in full, Progressive will return the money to the payment account on file.
Allstate’s COVID-19 rebate is 15% and the refund will be automatically applied in April and May to policyholders’ outstanding account balances or refunded to their bank account if there is no outstanding balance.