Geico, Liberty Mutual, USAA, and AllState have all created options, including payment plans, to make things easier for their customers, as we get through this difficult time.
COVID-19 (Coronavirus) caught us all off guard, and as we scramble to keep our lives as normal as possible, businesses all over the country are giving a lot more grace than usual.
Previously we reported that Sprint, T. Mobile, AT&T, Verizon, and Comcast vowed not to disconnect services for the next 60 days. Thankfully it seems that car and home insurance companies are following suit.
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Geico is suspending their non-payment cancellation policy, during this viral pandemic. This will be extended until April 30, 2020.
According to Geico’s website, “While many things may feel out of our control, we’re focusing on what we can. For our policyholders that are unable to make a payment due to COVID-19, we want you to know that we’re here to help support you. Effective immediately, we’re pausing cancellation of coverage due to non-payment and policy expiration through April 30, 2020. We hope that this can provide some peace of mind to you, our policyholders.
We also understand that everyone’s financial situation can be different. We’re dedicated to working with you, including flexible payment plans and/or special payment plans once normal billing resumes.”
Liberty Mutual is waiving fees and extending deadlines to customers who have been impacted by the viral pandemic.
“We have empowered our employees to work with each individual customer to provide the personalized support you need. For auto and home insurance customers who are negatively impacted by coronavirus, we are extending payment dates and waiving fees. Please contact us if we can be of assistance.”
Allstate is allowing customers to request a special payment plan that allows them to skip two monthly payments without a penalty.
According to the website, “Customers facing financial challenges can now request a special payment plan that allows auto and property insurance premium payment to be delayed for 60-days without penalty.”
USAA is offering payment arrangements for auto, property, life, and health insurance. They’re also waiving late fees. There will also be waived and/or reimbursed deductibles, or co-payments for Coronavirus related testing.
“We encourage members who may be impacted to reach out to discuss how we might be of assistance, including:
- Special payment arrangements on auto and property insurance premiums and waived late fees
- Special payment arrangements on life and health insurance policies
- Waived and/or reimbursed deductibles or co-payments for Coronavirus-related testing for members who have USAA Medicare supplement plans
- Special programs in place to help our members with consumer loan, credit card and mortgage payment assistance options and more depending on their situation.”
As more companies announce how they’re helping their customers, we’ll keep you updated, Roomies.
Source:https://www.forbes.com/sites/advisor/2020/03/20/coronavirus-sparks-extended-insurance-payment-grace-periods/#7fc5a6485f8d
