Allstate says it will give customers a 15% break on their monthly premiums. But most other car insurers aren't following suit.
Chris Norlin, like so many others, is hardly ever behind the wheel these days as he follows guidelines to stay at home and play hide-and-seek with the coronavirus.
The company said it will return more than $600 million to policyholders through credits to their bank accounts, credit cards or Allstate accounts. That’s what Progressive said when I asked if they planned to cut rates amid the pandemic, instructing me to take my query to the American Property Casualty Insurance Assn.
If insurers refuse to charge fair rates, he said, his agency “will exercise its authority under California law so that drivers are not overpaying for insurance during this emergency.” “Insurers seem to be very good at raising our rates when they perceive higher risk, but generally need to be forced to do the reverse,” she told me.“And when they add exclusions that reduce coverage, it feels like they rarely reduce premiums to make up for the shrunken protection.”
Call your insurer. I’ve heard anecdotally that some people have been successful in reducing rates by reporting lower mileage. It never hurts to ask.
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