The coronavirus (COVID-19) crisis has interrupted life as we know it and caused millions of Americans to stay at home. Without commuting, road trips, and other daily drives, however, traffic accidents have fallen dramatically. In California, for example, car crashes decreased by 60% in some parts of the state and fatal accidents and serious injuries fell from 400 to 200 per day.
States like Washington have also seen car accidents decline by about 67% statewide and fatal collisions decrease by up to 100%. In these cases, data comes from comparing statistics immediately before and after stay-at-home orders went into effect or contrasting this year’s numbers with stats from the same time last year.
While not all states have studied the decrease in car accidents, insurance companies nationwide have acknowledged a significant drop in claims.
A Drop in Accidents and COVID-19 Insurance Refunds
To account for the decrease in both driving and car accidents and share their unprecedented savings, many car insurance companies have offered policyholders discounts, credits, and refunds.
As of April 16, 2020, more than 10 major insurers had announced COVID-19 savings programs.
Below are some of the most notable examples:
- AAA is offering 20% “policyholder savings dividends” for policies in effect from March 16 to May 15, 2020.
- Allstate is providing a 15% “shelter-in-place payback” to customers who paid premiums in April and May.
- American Family Insurance is issuing a one-time $50 refund for each vehicle insured with the company.
- Famers and 21st Century Insurance are providing 25% refunds on April premiums.
- GEICO will take 15% off all new and renewed policies between April 8 and October 7, 2020.
- Liberty Mutual Insurance is issuing 15% refunds on monthly payments for April and May.
- Mercury Insurance is offering 15% refunds for April in May in the form of company credit.
- Progressive is crediting 20% refunds to customer accounts for both April and May.
- State Farm is refunding 25% of monthly premiums between March 20 and May 31, 2020.
- Travelers is providing 15% credits to refund April and May premiums.
- USAA is issuing 20% credits on two months of premiums.
If your insurance company is not listed above, you may still be able to save. Call your insurer and ask about any COVID-19 discounts, and if they don’t offer any, consider adjusting your policy to account for changes in how you use your vehicle (just remember to change it back when things are back to normal)!
We Can Still Help With Accidents and Insurance Disputes
Although we are more than happy to share good news during these dark times, our team at the Law Offices of Keith J. Nedwick, P.C. is still here for you if something goes wrong.
Car accidents have gone down, and insurers are paying it forward, but our attorneys know all too well that accidents still happen and insurance companies don’t always play by the rules.
If you are facing any legal challenges, do not hesitate to reach out. We are available 24/7 at (866) 590-8173 and offer free consultations for all personal injury matters.
Click here to schedule yours today.