Navigating the Road of Car Insurance, COVID-19, and Policy Relief

Updated: Sep 19

Car insurance provides uncertainty in these uncertain times. Given the fact that so much is up in the air, it’s nice to have the solid protection on the road. Even now, insurance companies are looking out for consumers with policy relief options. Of course, the COVID-19 outbreak has taken the world by surprise and forced people to adjust their lives to a new normal. As a community, we are pulling together to fight through this unprecedented time. Due to COVID-19, we are working from home, delivering meals, donating to local businesses and helping our neighbors all while staying 6 feet apart. One of the biggest community outreach programs has been through insurance companies.


COVID-19 and Car Insurance


Those of us who used to be driving a lot likely find our cars sitting in the driveway these days. So many things have changed and it can be tricky to navigate this new road. Many companies have decided to offer policy relief options. Read on to learn about how you can save on your monthly car insurance and which companies are implementing new policies to help their loyal customers.


If you are someone who has felt the economic impact of COVID-19 and is facing financial hardship, make sure that you are contacting your insurance providers during this difficult time. Their top priority is to make sure that you are able to maintain your insurance policy and keep you and your family protected. They have devised several different options for you to take advantage of as a consumer.


Two Billion Dollar Dividend


Statefarm insurance is recognizing that their customers are driving less and staying home to help stop the spread of COVID-19. They are making adjustments in order to do their part and give back to the community. The best part of this type of policy relief program is that customers do not have to do anything. You should see the benefits reflected on your monthly car insurance bill. The extra savings can help people to put food on the table and take care of their family. If you are a customer, check your statement to see what benefits are waiting for you.


Premium and Rapid Policy Relief


Nationwide is offering a few different ways to give back to their customers while financial times are tough. COVID-19 has proven to be one of the most unprecedented occurrences in our modern history. In order to prove to their customers that they matter most and that we can get through this time as a community, they are offering their own policy relief. Theirs is in the form of a one time refund that equates to a 15% discount. Essentially, they are rewarding their customers for staying off the road.


Pausing Cancellations of Car Insurance


Another major concern for auto insurance policy holders during the COVID-19 pandemic has been inability to pay. With 49% of the United States living paycheck to paycheck, people are having to adjust their priorities and potentially lose their insurance coverage. Companies like Geico, for example, have come up with a unique policy relief option for this. They have paused their cancellations for lack of payment during the pandemic. As people stay home and flatten the curve, there are less drivers on the road and more people trying to make ends meet. Thankfully, companies are putting their customers first and helping them have one less thing to worry about.


Extra Support During the COVID-19 Crisis


Providers are stepping up to take care of their customers when they need it most. This provides comfort while the current crisis is ever changing and can be extended at any time. Progressive knows that their policyholders will need their support as this situation continues. One of the ways they are contributing is by giving their customers a 20% credit to their policy.


As policyholders, we have other things on our mind as we are living through the COVID-19 pandemic. People are losing their jobs, closing their doors and becoming more isolated than ever. Having your provider value your loyalty and efforts to flatten the curve in a time like this makes the financial situation more bearable. Check with your provider to see what policy relief options are available and how you can receive benefits. Also, in the event that you could get a better deal elsewhere, you might want to switch providers. Check quotes here today!


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