With all of us doing our best to stay healthy at home, our cars are largely sitting in driveways and garages, simply not going anywhere. The team at Peel & Holland is happy to bring you some positive news as the insurance industry is stepping up to help personal auto policy holders.
Because fewer drivers means fewer accident claims, many insurance companies are providing premium credits on personal auto insurance policies. In addition, many are offering temporary premium assistance and coverage extensions for those directly impacted by COVID-19.
What Do You Need to Do?
In most cases, nothing. Premium credits to your auto policy will be automatically calculated and reflected on your account, so there is no need to call Peel & Holland or your insurance company to receive your credit.
For some of the other relief programs, action is required. We have provided those details below.
THE CINCINNATI INSURANCE COMPANIES
- Issuing a 15% Stay-at-Home Auto Premium Credit per personal auto policy for April and May auto premiums
- Pausing cancellations due to non-payment of premium and waiving late fees until at least April 30
- Temporarily waiving restrictions on policyholders now performing delivery services
ENCOVA INSURANCE
(formerly Motorists Insurance Group)
- Issuing a 15% policy credit for the months of April and May for policies remaining insured as of May 31, 2020
- Extending grace periods and suspending non-payment cancellations for a period of time for policyholders impacted by COVID-19
- Supporting restaurant owners who don’t typically offer delivery with a temporary hired non-owned auto endorsement
GRANGE INSURANCE
- Issuing a 25% premium return to personal auto policyholders for the months of April and May
- Providing a grace period for premium payment for policyholders directly impacted by COVID-19 (You must call Peel & Holland to secure this grace period.)
- Temporarily adjusting coverages for both restaurant commercial clients and restaurant employees who have personal auto coverage policies
NATIONWIDE INSURANCE
- Providing one-time premium refunds of $50 per policy for personal auto policies active as of March 31
- Waiving auto policy delivery exclusions and extending coverage to some restaurant and pharmacy employees delivering food or medicine/essential needs
- Offering a 60-day policy hold for personal lines customers if they or their immediate family have been impacted medically or financially by COVID-19 (You must call Peel & Holland to secure this policy hold.)
PROGRESSIVE INSURANCE
- Issuing a 20% credit of April and May premiums for personal auto policies in force as of April 30
- Issuing a 20% credit of May and June premiums for personal auto policies in force as of May 31
- Waiving late fees, pausing collections, and holding off on cancellations or non-renewing any active policies due to non-payment through May 15, 2020
SAFECO INSURANCE
- Issuing a 15% refund on two months of auto premium, based on premium amount as of April 7, 2020
- Expanding coverage on all personal auto policies to cover customers who use their personal vehicles to deliver food and medicine, in effect from March 16 to May 22, 2020 (Report this change in vehicle use to Peel & Holland by July 1, 2020, so that we can notify Safeco.)
- Automatically pausing late fee charges and cancellations due to non-payment for personal auto and home customers from March 23 to at least May 22, 2020
TRAVELERS
- Launching “Stay-at-Home Auto Premium Credit Program” of 15% credit on April and May personal auto premiums
- Suspending cancellation and nonrenewal of coverage due to nonpayment through May 15, 2020
We Are In This Together
At Peel & Holland, we continue our commitment to help you in any way we can. If you have questions, you can reach us at 800-599-8621.
Please stay well. We are in this together.
