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Some Good News - Lower Auto Insurance Premiums due to COVID19

As many of us are hunkered down at home due to COVID-19, we may be able to reap one significant benefit - lower auto insurance premiums from some of the most popular companies. These reductions are due to a statewide reduction in traffic.

For example, Allstate Insurance is currently offering shelter-in-place discounts according to their website. Automobile insurance customers will be able to see a 15% savings on their May and June statements. State Farm announced their Good Neighbor Relief Program, which was created to return $2 billion in dividends to their customers between March 20-May 31. And Progressive Insurance told its automobile insurance customers that they can expect to see a 20% refund on their April or May statements.

These savings come as a bit of good news as many in South Florida have been laid off or furloughed due to businesses being shut down as a result of COVID-19.