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Apr 7, 2020

What Does Your Agent Say?

(UPDATED BELOW)
From a CNN story:

"New York (CNN Business)Two insurers -- Allstate and American Family Insurance -- announced Monday they will give back about $800 million to their auto insurance customers because people are driving far less during the coronavirus crisis.
Allstate (ALL) said it will refund about 15% of premiums paid by its customers in April and May, which comes to a total of about $600 million.

"Given an unprecedented decline in driving, customers will receive a Shelter-in-Place Payback," said Allstate CEO Tom Wilson "This is fair because less driving means fewer accidents."

Below are the 10 largest auto insurance companies in Alabama (by market share).
  • State Farm 24.5%
  • ALFA 17.4%
  • Allstate 9.4%
  • Progressive 7.1%
  • Berkshire Hathaway (Geico) 6.3%
  • Nationwide 6.1%
  • USAA 3.8%
  • Farmers 3.8%
UPDATE: The other companies are following suite.

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