Auto insurance rate cut

[Pew]

Originally Posted by Wolf359
Originally Posted by JustinH
Called Progressive, and Flo said no discount forthcoming.

However they said they will offer late payment leniency.


Then I suggest you shop Allstate, Liberty Mutual or Geico. Tell that to Progressive.


Progressive's website at the very top states "all auto customers will receive a 20% credit for April and May. Plus we won't cancel or non-renew any active policies due to non-payment through May 15,2020.

 

[Triple_Se7en]

Originally Posted by PandaBear
I cancelled my comprehensive and collision. I am not driving enough these days and the street is pretty empty. Haven't heard about a refund yet but I'm wishing.

When things get back to somewhat-normal on the road again, you may wish you hadn't cancelled. You may find that your rates increased when renewing the policy to carry comprehensive and collision again.

The insurance companies are always the winners, not the policy holders.

 

[miden851]

We are with Alfa Insurance for a long time and I compared some prices with closest coverage prior to this pandemic period and we had pretty much rock bottom price to begin with

now if I would score discount with another insurer for $30 temporary, almost it would not worth the hassle

 

[PandaBear]

Originally Posted by Triple_Se7en
Originally Posted by PandaBear
I cancelled my comprehensive and collision. I am not driving enough these days and the street is pretty empty. Haven't heard about a refund yet but I'm wishing.

When things get back to somewhat-normal on the road again, you may wish you hadn't cancelled. You may find that your rates increased when renewing the policy to carry comprehensive and collision again.

The insurance companies are always the winners, not the policy holders.


True, they can do all kinds of trick to make money. However there's a couple reason I am doing it:

1) Had 2 accident 2-3 years ago, that raised my rate a bit for a while.
2) We won't be driving this car for a while for long trip, short trip is going to be about 3k miles a year. We usually drive another 2 cars daily that are liability only anyways.

I'd take the immediate $380 savings now, and worry about the "increase" later. If they raise more than what I saved I'd just switch to another company. Loyalty isn't treasured these days.

 

[BlueOvalFitter]

I was paying $101 a month about a year and a half ago. Now I'm paying $69 a month, same coverage as before. And, I'm with State Farm.

 

[twouvakind]

Yup.


Dear Fellow Member‚


We know the COVIDâ€19 pandemic is having a financial impact, and we're taking action to ease the burden. Every member with an auto insurance policy in effect as of March 31, 2020, will receive a 20% credit on two months of premiums in the coming weeks. All told, we're returning about $520 million.

We're able to pass on those savings because your efforts to stay home during the pandemic have meant fewer drivers on the road, which means fewer accidents and claims.

You will receive a credit applied to your bill. There is no need to call or take any action. For more details on the premium credit, please click here.

This is your association and we remain strong thanks to your service and loyalty. As a result, we are able to share our financial strength by giving back each year and in times of need. In 2019, we returned almost $2.4 billion in the form of distributions, dividends, and bank rebates and rewards. This credit is one of the many ways we're helping members deal with the pandemic's financial impacts, from offering special payment assistance to waiving late fees. You can learn more about other ways we can help at usaa.com/coronavirus.



Thank you for doing your part to keep our communities safe during this crisis, whether you're serving on the front lines of the pandemic or staying at home.


Our mission is to serve you and your family. It has been USAA's North Star since our founding in 1922.


Respectfully‚


Wayne Peacock
Chief Executive Officer
_____________________________________

 

[Wolf359]

That 20% sounds good until you realize it's just for 2 months so just 3.3% for the year. I read the Geico discount and it's for policy renewals which are 6 months so it's the equivalent of 7.5% for the year. I suppose they could extend it if this goes on.

 

[Quattro Pete]

Originally Posted by 69GTX
Originally Posted by Quattro Pete
Nope. Just the opposite. LM raised my rates by another $300 this year.

LiMu Emu......lol.

I just got their email: 15% refund on two months of premium. Better than nothing, I guess.

 

[MNgopher]

Travelers just sent me an email yesterday jumping on the 15% refund on two months (April and May). Didn't ask for it, but will appreciate it I guess.

 

[twouvakind]

Originally Posted by Wolf359
That 20% sounds good until you realize it's just for 2 months so just 3.3% for the year. I read the Geico discount and it's for policy renewals which are 6 months so it's the equivalent of 7.5% for the year. I suppose they could extend it if this goes on.


Beats a goose egg.

 

[Skippy722]

Getting $40 back from Allstate. I'll take it.

 

[zzyzzx]

Erie doing discounts now too.

 

[BeerCan]

Pure insurance is giving back 15% for the length of the lock down.