Auto insurers are offering $7B in refunds; is yours on the list?

With highways and roads abandoned as motorists stay home during the COVID-19 health crisis, the nation’s biggest auto insurers are refunding policyholders more than $7 billion.

Fewer cars on the road typically means fewer accident claims, and according to Arity, a data and analytics firm owned by Allstate, the total number of miles driven nationwide since March 8 is down by more than half.

Here is a list of auto insurers, with details on what they are offering. If your insurer isn't on the list, call; some companies require you to ask for help.

• State Farm, a mutual insurer owned by its policyholders, will give its customers a $2 billion rebate. Most policyholders will get a 25% credit for the weeks between March 30 and May 31. The percentage awarded will vary by state.
• Geico will give back about $2.5 billion to its auto and motorcycle customers. The company will issue a 15% credit as those policies come up for renewal between April 8 and Oct. 7. The credit also applies to new policies purchased with Geico during that  period.
• Progressive said it will give personal auto policyholders a 20% credit for their April and May premiums, totaling about $1 billion.
•  Allstate will return about $600 million to customers, which most policyholders will get back in the form of a roughly 15% credit on their premiums in April and May.
•  USAA, a member-owned association, said it will return $520 million to its members. Policyholders will receive a 20% credit on two months of premiums.
•  Liberty Mutual said it would return about $250 million to personal auto insurance customers in the form of a 15% refund on two months of their annual premiums. The refunds will begin in April.
•  American Family Insurance will return about $200 million to policyholders. The insurer will return $50 for each vehicle insured.
• The Hartford, which has an exclusive agreement with AARP to sell auto and home insurance products to its members, said it will give back about $50 million to its auto customers in the next couple of months. Most customers will receive a 15% refund on their April and May premiums.
• Farmers Insurance and 21st Century Insurance said their customers will receive a 25% reduction in April premiums.
• Nationwide said it will offer a one-time premium refund of $50 for each policy.
• Travelers said it will give its auto insurance customers a 15% credit on their April and May premiums.

Correction: An earlier version of this story misstated the terms of the Nationwide refund.