Kreidler Asks Auto Insurance Carriers To Issue Rebates
Washington Insurance Commissioner Mike Kreidler says auto insurance companies should consider giving rebates to customers, because of the effect the COVID-19 virus has had on driving in the state.
Kreidler says, because of the statewide lock-down in place, it's estimated traffic levels are about half of what they normally are. And accidents are down. He cites the case of an insurance claims office that normally has a volume of about 100 cases per day.
“They're down to a handful," Kreidler said. "In fact, since all of the claims managers are operating from their homes, one of the jokes is they fight among themselves as to who will get the next claim that comes through because there are so few of them."
Kreidler says three companies operating in the state, Allstate, American Family Insurance, and Liberty Mutual, have already offered refunds to customers because their costs have gone down in recent weeks.
“They're significant refunds, no question," he said. "I mean American Family came forward and is giving $50 per car for that particular household.”
Kreidler is advising consumers to reach out to their broker or insurance company and ask if they are offering any type of rebate or compensation to customers because of the COVID-19 situation.