With most Americans under stay-at-home orders due to the coronavirus outbreak, the roads are quieter – and safer – than usual. So why should you keep paying your regular auto insurance premium?
Many insurers have a perhaps surprising answer to that question: You shouldn’t.
Allstate announced this week that it would slash April and May’s premiums for its customers by 15%.
“They can have it on their credit card or they can put it in their checking account,” Allstate CEO Thomas Wilson told CNBC on Tuesday. Meanwhile, American Family Insurance said it will return $50 to its customers, per vehicle.
“It’s growing by the minute,” said Douglas Heller, an insurance expert at the Consumer Federation of America, about the announcements on discounts from insurers.
Liberty Mutual said it…