Auto insurers to return more than $187M in premium to Louisiana drivers through rebates, reductions

Top Stories

SHREVEPORT, La. (KTAL/KMSS) — Louisiana drivers can expect to get a little money back from their auto insurance companies over the next few months.

Multiple insurance companies will be returning more than $187 million to drivers through rebates and premium reductions.

“Quite a windfall for our policy holders, and frankly auto-insurance policy holders nationwide,” said James Donelon, Louisiana Insurance Commissioner. “This was not done just in our state, it was done all over America.”

Donelon says the type of pay-outs will vary, but most will be a credit towards your premium renewal.

“It’s an automatic payment, and many of them will receive a credit on their next invoice, or a check in the mail if they change companies,” said Commissioner Donelon. “90% of the folks will get this money in the form of a credit against their next premium due.”

Nearly 21 percent of the Louisiana work force has filed for unemployment since March 14th, according to NBC News. Those workers could be turning to a temporary job like food delivery or ride-sharing, but typically insurance policies don’t cover the use of a personal vehicle for commercial use. Commissioner Donelon says insurance companies are waiving that clause.

“That again was a welcome benefit because thousands of policy holders all across the state could go to work for restaurants or grocery stores, or Lyft or Uber for that matter, and use their vehicle for that commercial activity, and have coverage to protect them while they’re doing it.”

Chart of Companies Offering Premium Payback Due to COVID-19

Copyright 2020 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

HURRICANE LAURA: CLICK HERE TO DONATE

More Check This Out
Loving Living Local 600x600

Don't Miss