Auto insurance companies such as Allstate, Geico and Liberty Mutual are poised to credit policyholders millions of dollars because of the coronavirus that has caused motorists to drive less during the coronavirus pandemic.
Geico, which will also halt cancellation of coverage due to non-payments and referenced shelter-in-place orders, announced Tuesday that auto and motorcycle policyholders will receive a 15 percent credit worth about $2.5 billion overall.
“This ongoing crisis has widespread effects that will linger,” said Geico President and CEO Todd Combs. “That is why we wanted to give this credit for at least six months.”
