Are All Insurance Companies Giving Rebates

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American family insurance a smaller company will be sending checks of 50 per car to more than 2 million customers.

Are all insurance companies giving rebates. Finance minister rod phillips has eliminated the regulatory roadblock that insurance companies said prevented them from offering auto insurance rebates to ontario drivers during the covid 19 pandemic. Most have relaxed their payment and cancellation terms as well. This will be great news for those looking to save a little cash during a time when finances are uncertain. Some insurers are giving refunds or discounts to customers as a result including major insurance companies geico allstate and liberty mutual.

All told american family has 200 million in rebates on the way. The insurance bureau of canada which represents insurance companies across canada says its members are offering relief measures that could add up to 600 million worth of rebates and discounts. But the industry is saving even more during the pandemic even after subtracting the payments being made to policyholders. Already some insurers including allstate geico and usaa have started giving rebates of up to 15 percent on insurance premiums.

If money is tight during the covid 19 crisis the savings could help a little bit. Most have relaxed their payment and cancellation terms as well. Due to federal law they re now giving partial insurance refunds. That means decreased risk for insurance companies which should translate to lower premiums for consumers.

But what other relief is available. The premium rebates you re getting aren t a fortune but it s still nice to get some cash back. Have also introduced rebates equal to 20 per cent of their monthly premium. Already some insurers including allstate geico and usaa have started giving rebates of up to 15 percent on insurance premiums.

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