How to Get a Break on Your Auto Insurance During a Pandemic
If your auto insurance carrier is Allstate, Geico, Farmers, or Liberty Mutual then read on!
Driving is down and millions have lost their jobs because of the Coronavirus. Some auto insurance carriers are aware that to hang on to their valuable customer base they would need to adjust their rates.
According to marketwatch.com, this may be the perfect opportunity to negotiate your rate with your current carrier or shop other rates from different carriers. If you're a Geico customer like I am, you might have already been informed your rate is dipping a bit.
Geico announced this past Tuesday that they will be giving existing customers a 15% credit as policies come up for renewal between April 8 and October 7, 2020. The 15% discount also applies to all new customers. I have four vehicles on one Geico policy so this 15% policy discount is saving me $780 per year. Yay me!
According to marketwatch.com, Farmer's Insurance is giving customers an outright 25% discount on their April premium. Both Allstate and Liberty Mutual are giving their customers a 15% break on their policies.
Robert Hunter, director of insurance at the Consumer Federation of America told Market Watch this is the ideal time to get on the phone to wheel and deal with your current auto insurance company.