BLOOMINGTON, Ill. (WMBD) — Policyholders with State Farm may be getting a check in the mail soon.
Fewer cars on the road mean fewer traffic crashes, leading to big savings for auto insurance companies. But they’re not planning to keep this all for themselves and are figuring out how to pass it along to customers.
State Farm says in a release, “We know our auto insurance policyholders are driving much less than anticipated. We are closely monitoring our automobile insurance loss trends and are considering how best to take this into account and return value to our auto insurance policyholders.”
Other companies like Allstate and American Family Insurance are also sending those savings back to their customers.
Allstate says all 18-million customers will be receiving 15% of their premium put back into their accounts
State Farm expects to have more information on their course of action later this week.
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