Farmers® Automobile Customers Will Receive a 25% Reduction in Their April Premium
As we continue to support our customers through the coronavirus crisis, today Farmers announced that all Farmers and 21st Century branded auto customers will receive a 25% reduction in April premium. This reflects the reduction in driving as a result of stay-at-home guidelines in place across America.
“We are committed to helping customers during this unprecedented time. Building on our Farmers® Cares initiative to assist customers, all Farmers auto customers will receive a 25% premium reduction for the month of April,” said Jeff Dailey, chief executive officer of Farmers Insurance. “As this situation continues to evolve we will remain agile in assessing additional ways we can help our customers including potentially further premium reductions.”
Farmers customers will not need to take any action to receive the reduction. Additionally, for new business and existing customers, Farmers is making our usage based insurance app, Signal®, available without the need for ten trips to qualify. Signing up for Signal will further allow a customer to save money and long term move their rates toward the risk they represent. As a reminder, Signal is not currently available in California, South Carolina or New York.
The reduction in auto premiums for April is the latest step we have taken to help our customers through this difficult time. Under the Farmers Cares initiative, Farmers has already introduced other actions to help customers during this time, including:
· With many small businesses struggling as a result of customers staying home, Farmers is providing additional relief to more than 115,000 business insurance customers. Business customers in the restaurant, office, retail and service sectors across the country will receive a 20% monthly credit on their Business Owners Policy (BOP) for the next two months on their upcoming premium notices.
· We have also made adjustments to allow extra time for insureds to pay Farmers-branded Auto, Home, Umbrella and Specialty policies. As previously announced, we have temporarily paused cancellations, allowing customers more time to pay their premiums until May 1, 2020.
· We also modified Farmers-branded auto policies to extend a customer's existing personal auto and motorcycle insurance coverages when delivery drivers use their personal automobile or motorcycle for the delivery of food, groceries, pharmacy and medical supplies.
· Farmers is providing continuing support to local non-profit organizations that are responding with community-based COVID-19 initiatives
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