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American Family to Increase COVID-Related Premium Relief to $500 Million

Company extends 10% credit on monthly personal auto insurance bills through March 2021

American Family Insurance announced today its third round of premium relief for personal auto insurance customers due to decreased driving and claims from COVID-19, increasing the total amount of relief to $500 million since the pandemic began.

The company said it will extend a 10% credit currently applied to monthly personal auto insurance bills until the end of March 2021, pending regulatory approval. The credit was set to expire at the end of this year.

The 10% credit, which started with July bills, was American Family’s second round of premium relief. The first round was announced in March, with customers receiving a check for $50 per vehicle insured by an American Family personal auto policy in force as of March 11. Those first two rounds combined provided $425 million in premium relief, which included expanded discounts.

“We exist to protect and help our customers,” said Telisa Yancy, American Family chief operating officer. “While driving mileage and claims have recently trended up, we anticipate the numbers will continue to be less than previous years. We want to continue this relief as our …

Full story available on Benzinga.com

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