State Farm and Progressive customers can look forward to this.
State Farm said it will return up to $2 billion in premiums to its policyholders, the latest auto insurance company to reimburse customers due to the coronavirus pandemic.
In a statement, State Farm said its auto customers can expect to earn a credit of 25% on their premium between March 20 through May 31. "We insure more cars than anyone and we see from our claims activity people are driving less," said Michael L. Tipsord, chairman, president and CEO of State Farm, in a statement."This dividend is one of the ways we’re working to help our customers during this unprecedented situation."
On Wednesday, Progressive said it will provide approximately $1 billion to drivers because of fewer claims. The company said auto policy customers can potentially receive a 20% credit in April and May.
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