Shelter Insurance has joined the companies planning to rebate customers during the pandemic.
Because many people are following the doctors' advice and staying home, they're not driving as much. Several insurance companies have announced plans to obtain permission from state insurance officials to rebate premiums paid to customers.
Yesterday, Shelter Insurance joined that group with this post:
The Shelter Insurance® group of companies was among the first to take the stance of continuing coverage when a customer could not pay their premium, and now Shelter, including its subsidiaries AmShield Insurance®, Haulers Insurance®, and Say Insurance®, will join others in our industry in finding ways to provide relief to our customers who insure their personal autos with us.
Many of our customers are under unprecedented stay-at-home orders and social-distancing mandates, so they are driving fewer miles and experiencing fewer accidents. In the interest of providing help to our customers now, when they need it most, Shelter will issue a payment to our policyholders representing approximately 30% of their personal auto monthly premium for the months of April and May, based on our best estimate of the impact of this pandemic on our customers and on Shelter’s business.
We will work diligently to obtain approval from the Departments of Insurance in each state we serve to get this money into our customers’ hands as quickly as possible. If a customer paid their premium automatically through a bank account, we will deposit directly into the account when possible. Otherwise, we will mail a check.
Shelter is known for doing the right thing. We will continue to evaluate this rapidly evolving situation and do what we can to help our customers, agents, and employees.
Shelter is also providing assistance to communities in 15 states across the U.S.
In a statement released this week, Shelter announced the allocation of $1.5 million dollar to help with crisis relief in the communities Shelter serves. The Shelter Insurance Foundation approved offering a $1,000 donation per agent and $5,000 per regional office to area charities working to respond to local COVID-19 needs. The offer is extended to each of Shelters 1,400 agents in their 15-state operating territory and to their 20 regional offices. Agents may choose which charities to support and submit their requests to the Foundation.
"Our thoughts are with everyone suffering during this crisis," said Teresa Magruder, Executive Vice President of the Shelter Insurance Companies and Secretary of the Foundation Board. "We know that local charities providing COVID-19 relief are being asked to do more every day, and we hope these donations through our local agents will make a difference."
More information is available here.