We hope all of you are doing well during these unfortunate times. As many of you may have noticed, due to the COVID-19 crisis, many insurance companies have announced premium refund programs for their auto insurance policyholders.
At their most basic, the most common refund program is that policyholders will be receiving a specific discount off their April and May premiums, but every company is a bit different. Many of our carriers have announced these programs as well.
To date, the ones who have announced a program are below. If your insurance carrier is listed, click on the name to read their statement.
Adirondack: will waive physical damage deductibles for healthcare providers through the end of the year. Read their statement here.
NatGen Premier: will waive physical damage deductibles for healthcare providers through the end of the year, and customers receive a 15% refund off their April auto premium. Read their statement here.
New Jersey Skylands: will waive physical damage deductibles for healthcare providers through the end of the year. Read their statement here.
You will not need to do anything to receive this rebate and keep an eye out for communication directly from your insurance carrier.
How much should you expect? It depends on your insurance carrier rebate % and how much your auto insurance policy is.
Here is an example:
Auto Insurance Yearly Policy – $2,500
Monthly Premium – $208
Refund Amount For April if carrier is giving 20% back – $41.67
If carrier is giving two months refund, $83 would be rebated for an individual who’s auto insurance policy is $208/month or $2,500/year.
If you have any questions about these programs, or have been negatively impacted by this pandemic and would like to discuss additional options you may have, please feel free to give us a call at (914) 769-1700.
Your George A. Bell Family