Auto Insurance Companies Offering COVID-19 Flexibility

There’s another venue for Wyomingites to seek relief: auto insurance.

With so many people either unemployed or biding time until they can go back to work, there are fewer cars on the roads, fewer miles being driven, and fewer risks of accidents that insurance companies would need to cover. Makes perfect sense when you think about it. As a result, 14 large auto insurance companies have been giving refunds, dividends, discounts, and credits totaling approximately $10.5 billion, according to estimates compiled by the Insurance Information Institute. There may be opportunities for you to get a discount or suspension for a time, until things begin to pick up again.

Several insurance companies have already notified the Wyoming Department of Insurance. They intend to offer as much flexibility as possible with payments. So how can you seek this relief? Call your auto insurance provider and explain your situation and circumstances, then ask the all-important question: how do we keep this coverage in place? Continuing coverage at a discounted rate is better than a temporary cancellation, as that can affect your rates further down the line.

Here’s a list of the possible options being offered by large and small auto insurance companies:

 Allstate Group – Refund of 15% of March & April premiums, $10 minimum
o Allstate Insurance Company
o Allstate Indemnity Company
o Allstate Fire and Casualty Insurance Company
o Allstate Property and Casualty Insurance Company
 GEICO Group – 15% premium credit on renewals April 8th- October 7th
 Travelers Group – 15% premium credit for April & May premiums
 Farmers Group – 25% reduction on April premiums
 Progressive Group – 20% premium credit for April & May for active policies, $10 minimum
o Progressive Northern Insurance Company
o Progressive Universal Insurance Company
 Nationwide Group – One-time payment of $50 for policies active on March 31, 2020
o AMCO Insurance Company
o Depositors Insurance Company
o Nationwide Mutual Insurance Company
o Nationwide Property and Casualty Insurance Company
o Crestbrook Insurance Company
 MetLife Group – 15% premium credit for April & May, to be applied on following month’s billing
o Metropolitan Property and Casualty Insurance Company
o Economy Premier Assurance Company
 Amica Mutual Insurance Company – 20% credit for April & May to be applied to May & June premiums
 Liberty Mutual Group – 15% premium credit for two months for policies in force as of April 7, 2020.
o Liberty Insurance Corporation
o Liberty Mutual Fire Insurance Company
o LM General Insurance Company
o LM Insurance Corporation
o The First Liberty Insurance Corporation
o Safeco Insurance Company of Illinois
 Hartford Group – 15% premium credit of 60 days coverage for policies in force as of April 1, 2020.
o Hartford Insurance Company of the Midwest
o Hartford Underwriters Insurance Company
o Trumbull Insurance Company
o Twin City Fire Insurance Company
o Hartford Accident and Indemnity Company
 Acuity, A Mutual Insurance Company – 5% premium discount for all new and renewing policies from March 11, 2020 through March 10, 2021.
 Chubb Group – 35% premium credit for April & May, to be applied at renewal.

For additional questions, please visit the Wyoming Department of Insurance website: DOI.wyo.gov or call the DOI at 307-777-7401.