Family Auto Insurance Agency
  • Home
  • Online Quote
    • Auto Quotes >
      • Auto Insurance Quote
      • ATV Insurance Quote
      • Roadside Assistance Quote
      • Motorcycle Quote
      • RV Insurance Quote
    • Business Quotes >
      • Business Insurance Quote
      • Business Owners Package (BOP) Insurance Quote
      • Group Benefits Insurance Quote
      • Workers Compensation Quote
    • Property Quotes >
      • Home Insurance Quote
      • Earthquake Insurance Quote
      • Flood Insurance Quote
      • Landlords Insurance Quote
      • Renters Insurance Quote
    • Other Quotes >
      • Boat Insurance Quote
      • Event Insurance Quote
      • Umbrella Insurance Quote
  • Service
    • Report a Claim
    • Make a Payment
    • Update Contact Info
    • Policy Changes
    • Proof of Insurance
    • Client Center
    • Policy Review
    • Online Documents
    • Free Consultation
  • Insurance
    • Vehicles >
      • Auto Insurance
      • ATV Insurance
      • Boat Insurance
      • Motorcycle Insurance
      • Roadside Assistance
      • RV Insurance
    • Business >
      • Business Insurance
      • Business Owners Package (BOP) Insurance
      • Group Benefits
      • Workers Compensation
    • Property >
      • Home Insurance
      • Earthquake Insurance
      • Flood Insurance
      • Landlords Insurance
      • Renters Insurance
    • Other >
      • Event Insurance
  • About
    • Staff Directory
    • Client Testimonials
    • Refer a Friend
    • Agency Photo Gallery
    • Newsletter Signup
    • Blog
    • News
  • Contact
  • Home
  • Online Quote
    • Auto Quotes >
      • Auto Insurance Quote
      • ATV Insurance Quote
      • Roadside Assistance Quote
      • Motorcycle Quote
      • RV Insurance Quote
    • Business Quotes >
      • Business Insurance Quote
      • Business Owners Package (BOP) Insurance Quote
      • Group Benefits Insurance Quote
      • Workers Compensation Quote
    • Property Quotes >
      • Home Insurance Quote
      • Earthquake Insurance Quote
      • Flood Insurance Quote
      • Landlords Insurance Quote
      • Renters Insurance Quote
    • Other Quotes >
      • Boat Insurance Quote
      • Event Insurance Quote
      • Umbrella Insurance Quote
  • Service
    • Report a Claim
    • Make a Payment
    • Update Contact Info
    • Policy Changes
    • Proof of Insurance
    • Client Center
    • Policy Review
    • Online Documents
    • Free Consultation
  • Insurance
    • Vehicles >
      • Auto Insurance
      • ATV Insurance
      • Boat Insurance
      • Motorcycle Insurance
      • Roadside Assistance
      • RV Insurance
    • Business >
      • Business Insurance
      • Business Owners Package (BOP) Insurance
      • Group Benefits
      • Workers Compensation
    • Property >
      • Home Insurance
      • Earthquake Insurance
      • Flood Insurance
      • Landlords Insurance
      • Renters Insurance
    • Other >
      • Event Insurance
  • About
    • Staff Directory
    • Client Testimonials
    • Refer a Friend
    • Agency Photo Gallery
    • Newsletter Signup
    • Blog
    • News
  • Contact

Family Auto Insurance
​Agency Blog

Givebacks Saved Auto Insurance Policyholders Amidst Pandemic

1/11/2021

0 Comments

 
Picture
​During the COVID-19 pandemic, many insurance companies developed relief services to assist their car insurance customers. Most of these insurers offer premium refunds, terminate policy pauses, extend payment deadlines, and more. Learn more about how policyholders have helped.
How Auto Insurance Companies Helped
American highways see significantly fewer congestion and incidents, with millions under stay-at-home orders and operating remotely. It means that there is less chance of insurance claims, and car insurers are taking notice. Just over 80 percent of American auto insurance firms have announced that they will reimburse or credit drivers more than $6.5 billion in the next two months.

In addition to the refund plans, many insurers have financial hardship programs that may include a grace period for those unable to pay their bills to pay their insurance premiums late without incurring late fees or losing coverage. But to find out if this is available and explicitly request this form of relief, one will need to contact the policy insurer.

Insurance Companies Met with Higher Satisfaction Rate
During the coronavirus pandemic, getting less auto insurance claims seems to have provided insurers time to refine their consumer experience and offer better quality claims service. Compared to 868 points in 2019, overall satisfaction with the auto insurance compensation process rose to a record-high 872 on a 1,000-point scale.

Auto insurance companies boosted the processing speed for claims. They saw an improvement in the proportion of policyholders who said they would undoubtedly renew with their carriers compared to before the pandemic.

Despite relief efforts, a factor behind loyalty challenges is the essence of the insurance product itself. Consumers have a poor memory of positive reinforcement and are not very forgiving. They recall that they were paying a risk premium for an asset that was not used at the pandemic's current height, but they are less likely to remember the industry's attempts to deliver a cost reduction.

Conclusion
Since more people are driving less during the pandemic, many vehicle insurers responded with around $10 billion in premium refunds. Consumers still choose to look for cheaper options, even with this since they will target the company with low premium rates and adequate coverage.

At Family Auto Insurance Agency, we do our best to make sure that our clients are well-protected with affordable and comprehensive policies. We make sure to go the extra mile to help you with your needs. To learn more about how we can help you, please contact our agency at (313) 285-9042 or Click Here to request a free quote.
0 Comments



Leave a Reply.

    Contact Us

    Detroit Office:
    6442 Michigan Ave
    Detroit, MI 48210​
    (313) 285-9042

    Lincoln Park Office:
    3205 Dix Hwy 
    Lincoln Park, MI 48146
    (313) 288-1550
    Click Here to Email Us

    Archives

    March 2025
    February 2025
    January 2025
    December 2024
    November 2024
    October 2024
    September 2024
    August 2024
    July 2024
    June 2024
    May 2024
    April 2024
    March 2024
    February 2024
    January 2024
    December 2023
    November 2023
    October 2023
    September 2023
    August 2023
    July 2023
    June 2023
    May 2023
    April 2023
    March 2023
    February 2023
    January 2023
    December 2022
    November 2022
    October 2022
    September 2022
    August 2022
    July 2022
    June 2022
    May 2022
    April 2022
    March 2022
    February 2022
    January 2022
    December 2021
    November 2021
    October 2021
    September 2021
    August 2021
    July 2021
    June 2021
    May 2021
    April 2021
    March 2021
    February 2021
    January 2021
    December 2020
    November 2020
    October 2020
    September 2020
    August 2020
    July 2020
    June 2020
    May 2020
    April 2020
    March 2020
    January 2020

    Categories

    All
    Auto Insurance
    Business Insurance
    Business Owner's Package (BOP) Insurance
    FAQs
    Financial
    Flood Insurance
    Home Insurance
    Insurance
    Local
    Motorcycle Insurance
    Renters Insurance
    Safety

    RSS Feed

Navigation

Homepage
Insurance Quotes
Policy Service
Insurance Products
Contact Us
Agent Login

Connect With Us

Share This Page

Contact Us

Family Auto Insurance Agency
Detroit Office:
6442 Michigan Ave
Detroit, MI 48210​
(313) 285-9042
Lincoln Park Office:
3205 Dix Hwy 
Lincoln Park, MI 48146
(313) 288-1550
Click Here to Email Us

Location

Family Auto Insurance Agency - Detroit, MI
Review Us
Website by InsuranceSplash