Country Financial To Refund 15% To Auto Customers
Country Financial said Wednesday it will send refund checks to its auto customers who are driving less because of the coronavirus.
Bloomington-based Country is the latest in a long line of insurers, including State Farm, offering refunds and other direct benefits to their customers.
Country’s customers will receive a 15% refund for two months of auto premium in anticipation of a decrease in driving activity in April and May. Pending regulatory approval, the company will mail checks in May. Clients do not need to take any action to receive the payment.
The 15% refund is similar to that being offered by Allstate, Liberty Mutual, Travelers, and other companies. State Farm said its auto customers could expect a credit of about 25%.
“Our clients are doing their part during COVID-19 and staying home. That means fewer accidents and lower claims costs,” Jim Jacobs, Country Financial’s chief executive officer, said in a statement Wednesday. “We always work hard to provide the protection our clients need. When we can do that for less cost, we believe returning money to our clients is the right thing to do, especially during challenging times.”
Earlier this month, Country Financial extended payment deadlines for clients to prevent cancellations, late fees and non-renewals.
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