Driving Less Could Get You a Break on Your Car Insurance
We're all saving money by not driving has much and we're set to save even more from our car insurance providers.
Geico will be giving a 15 percent credit to car and motorcycle policyholders when they renew their coverage this year.
According to FOX News, the insurer joins Allstate and American Family in refunding some of the money it expects to save since its customers are driving less during the coronavirus pandemic, leading to fewer accidents and payouts.
Geico’s program applies to policies renewed between April 7 and Oct. 7, 2020, and it estimates the average discount on a semi-annual premium will be $150 per auto policy and $30 per motorcycle policy, resulting in a total benefit to customers of $2.5 billion, according to their website.
According to their website, Allstate has initiated an average 15 percent refund for current policyholders for at least April and May, while American Family is returning $50 per vehicle.
Along with these large consumer-oriented companies, Next Insurance has announced a 25 percent reduction to its April premium for commercial automotive plans. That's according to FOX News.
It's nice to know we'll be saving a bit of money while we shelter in place.