The assumption here is one doesn't have a garage, or doesn't garage their vehicles.

At any rate it would seem that Jake is gonna do something as it too is a mutual co. Nobody messes with the AARP or consumer cellular (seems they contacted them and did get an official response, that decision is coming and statement implied yes we're gonna do something). $50 per car times 2 hey I would take it, but that's American (for us $400). but seems Allstate said 15% for 2 mos. Hopefully state farm comes in higher. I'm a bit like folks here when it comes to health insurance, and it's never paid off except when my son broke his leg last year. That's one time in how many years? It's pretty shocking how much a routine broken bone costs, both money-wise, and time-wise, for a then 5 y.o. I could see $5k, but would never have seen 3-4X that.

 

Depending on your carrier, a lot of insurance companies are stepping up and offering discounts given the fact most of the cars aren't being driven (or driven much) lately.
I have Geico and they just announced they are giving a 15% discount off the current (or next) renewal 6-month term automatically
Allstate announced $600m money back (which breaks out to be 15% discount as well)

 

If insurance always “paid off” then companies wouldn’t make money selling insurance lol

 

These companies are getting some good publicity for something they likely would have been forced to do anyway. Insurance rates are controlled by state departments of insurance, and there are rumblings of state insurance commissioners requiring refunds so these companies are getting out in front of this. Many states have already instituted a 90 day prohibition of cancellation for nonpayment, as well as providing coverage for restaurant, etc. delivery even if specifically excluded in policy. Rates are based in large part on losses (claims paid), and are approved by state regulators. With fewer miles being driven the companies are seeing fewer claims. Regulators definitely taking notice.

 

I think insurance companies should lower rates for the period of time most people are not driving or driving far less which means less accidents/payments on their part, they are definitely saving money during this..They find every excuse to raise rates, including automatic increase every few years no matter what so in this case they should lower them a bit and cut people a break during this.

 

I got my notice from Geico this morning.....partial-refund coming, although my rates are very low to start with because of several factors. My brother will be getting a partial-refund from Allstate.

This only makes sense, as the auto-insurance companies have not had many claims lately because of so many people staying at home. They've got a bunch of extra cash on hand that is apparently not needed...or at least not urgently needed in the short-term, and many people are hurting for income right now.

 

USAA is refunding 20% of premiums paid for a 2-month period for all policy holders as of 3/31/20.

 

The problem is that one cannot predict in advance (including the insurance companies) how long this reduced-driving status will go on, and how long they can charge lower rates. It could start ending tomorrow (though not likely) or go on several more months.

 

None of this matters because I pick my insurance based on commercials. Geico has the best ones. I especially enjoyed "Jessie the Cowboy" and the Hump Day Camel. Pretty impressive digital effects in some of the "Flo" commercials from Progressive. The yellow-themed insurance ads with the stupid bird and the old Plymouth Duster are next to the bottom. The worst ones are the guy with bandages on his face. I'd never insure with them.




Okay, I made a "misstatement," as politicians like to say. I use Amica, which doesn't do commercials at all. Hmmm. Maybe a connection with the cost of advertising and the cost of insurance?

 

Flo (Progressive), on camera, always looks cute in her sneakers and white suit, but when push comes to shove, GEICO actually delivers when they say they have low rates. They may not be the absolute lowest out there among the major companies, but, if they like you, they bend over backwards to give you low rates. The one problem with GEICO, though, is that they are picky about who they take....and that's how that keep rates down, with low-risk people. I had a very good (though not perfect) driving record, and, even so, when I first applied to GEICO, after arguments on the phone with several levels of supervisors, my policy-application went all the way up to a company Vice-President, who personally approved it and sent me a nice letter. Since then, though (and that was a long time ago) I've been amazed at the coverage they give me at excellent rates....and, several years ago, they gave me a Guaranteed-for-Life policy, which means they cannot drop you as long as you are paid up.

 

Announced today that State Farm providing some relief now too.

 

I think this is like 52 oz. orange juice. How many even remember when a half gallon was 64 oz?

Jake says 2 bil., 3/30-5/31, 25% (huge), and then $20 per car per month. I think it's hilarious that they'll work backwards to meet all of those numbers. Geico is only 15%, but they say about $150 per policy. Actually, doesn't this imply Jake's rates are low? If 25% < 15% absolutely speaking? I did have Geico before and they were horrible about replacing my BMW windshield (after 40 min. of arguing they agreed to OE glass), and they were way more expensive than the hands people, who were more expensive than Jake. Although my buddy said it really doesn't matter, they're all bad and you switch after 3 years otherwise all of the above are expensive. So far, that's not true with Jake because the premium s went down upon the first renewal. Never happened with the hands people.

Using their estimates, hey, $160 is $160. It's not the money, it's the gesture.

 

Good that some of these insurance companies are refunding a percentage of the premium. All-State stepped up first and I applaud them for it!

 

My mom has always used an agent (I have only since 2010). Well she couldn't get a hold of them they're closed, and so she called the co. in Boston directly. They said, we are a small company. We don't have any plans to issue refunds at this time. makes us wonder, there are so many times we are looking out for the little guys, but in some sense they can't really provide the way larger cos. do.

 

AAA also stepping up 20% back