Contact 2: Insurance companies still offering pandemic rebates
ST. LOUIS – Life changed when the pandemic hit; for a lot of people, that
ST. LOUIS – Life changed when the pandemic hit; for a lot of people, that meant no longer having a daily commute.
“At the onset of the pandemic, what we noticed was a pretty drastic shift in trends, both with driving miles that were being recorded through apps we have like ‘Drive Safe and Save’ and the claims volume we were seeing and the number of accidents that were being recorded,” said State Farm spokesman Chris Pilcic.
In March, Pilcic says the company started offering customers a statement credit of about 25 percent for the March 20 through May 31 payment period.
“That was about $2 billion returned in auto premiums.” Said Pilcic.
In May, State Farm announced rate cuts nationwide. The 1.1 million Missouri drivers it insures saved a total of $85 million. Approximately 2.8 million Illinois drivers saved $320 million.
Pilcic says customers who sign up for the “Drive Safe and Save” program can save up to 10 percent.
“As we record your driving behaviors, it has the potential to increase your savings,” he said. “That doesn’t cost the consumer anything, but it really gives them a greater sense of control over their premium.”
State Farm is not the only insurance provider giving money back to its customers. The auto insurance industry has offered more than $10 billion in rebates and discounts for policyholders since March.
Will that continue as the pandemic persists? Hard to say; but Pilcic recommends you keep the line of communication open with your agent.
“I think the best thing any consumer can do is have a relationship with their insurance agent. Have those conversations periodically. Talk about the coverage that you have,” he said.
Suggest a Correction