Insurance bills are a considerable expense for many Americans each month, and with widespread disruptions to people’s income due to coronavirus, people need help. Along with major financial institutions offering relief, many of the nation’s largest insurers are stepping up to support those affected by the COVID-19 pandemic.
Missing an insurance payment could mean losing your coverage, so if you’re having trouble paying your insurance premiums, check to see whether your insurance company is providing assistance.
How are the largest insurers responding to coronavirus?
State Farm recently announced it has altered its leave policy to ensure customers and employees are safe while providing financial security to employees affected.
Unlike many other insurers that are asking customers to call in to request assistance, Geico posted an update to its website stating that: “Effective immediately, we’re pausing cancellation of coverage due to non-payment and policy expiration through April 30, 2020.“
Keep in mind, any payments set up through Auto-Pay will still be deducted unless you manually cancel them. Also, you’ll still be required to pay back the balance owed on your policy once the grace period expires.
If you need to get in contact with Geico, it is recommending you reach out via the Geico app “as call wait times may be longer than usual.”
An Allstate representative responded to our request with the following statement:
“Customers can now request a special payment plan, allowing them to skip two premium payments in a row with no penalty.
We’re encouraging customers to use the Allstate mobile app to start a claim, provide proof of insurance or request 24/7 roadside assistance.
For customers who want to reach out to a local agent, office staff is available by phone during normal business hours. Customers can also reach Allstate at any time at 1-800-ALLSTATE.”
Progressive is urging customers experiencing financial hardships due to COVID-19 to “log in and chat with us, or give us a call to discuss how we can help you.”
“You can also report or check on the status of a claim online, through the Progressive app, or by calling 1-800-PROGRESSIVE. To protect your health and safety, as well as ours, we’ll be limiting in-person claims interactions as much as possible.”
USAA updated its website to confirm its response to COVID-19. USAA will:
- “automatically stop charging late fees and temporarily pause non-payment cancellation of USAA Auto & Property insurance coverage”
- “continue to offer special payment arrangements on USAA Auto & Property insurance premiums”
- extend special payment arrangements to life insurance policies
The site is clear that restrictions may apply and these actions can be changed at any time. Although USAA’s update included phone numbers available to speak with a representative, it would “encourage members to use digital tools for non-urgent matters so our representatives can focus on questions and complex member transactions.”
“For auto and home insurance customers who are negatively impacted by coronavirus, we are extending payment dates and waiving fees.” Liberty Mutual published on its website. You can reach out to customer support for assistance if needed.
Liberty Mutual also announced steps to keep claims adjusters, employees, and customers safe during this time, limiting in-person contact to emergency scenarios only.
Farmers is urging customers to file claims and manage policies digitally, either online or on the Farmers Mobile App to “help protect the health and safety of our customers, employees, and Farmers agents.”
“If you are unable to make your payment on time as a result of COVID-19, please call 1-888-327-6335 to discuss your options.”
How can you find help with your insurance bills if you’re impacted by COVID-19?
If you don’t see your insurer on this list, we recommend visiting your insurance company’s website to see if they have a COVID-19 update. This may be posted as a banner on the homepage of the site, or you may be able to find it by googling the insurance company’s name along with “COVID-19.”
You can also reach out to your insurer directly by phone, but we have seen that many insurance companies are receiving a higher call volume than normal so be prepared for what may be longer than normal wait times.