The COVID-19/Coronavirus has us all wondering what to expect next. Meanwhile, the expenses/bills keep coming and we may need to cut some expenses. What can be done in terms of insurance expenses? Fortunately, our agents can show you various options.
Ways to save include:
– Reducing a vehicle from full coverage to comprehensive only if it is not being used during the stay-at-home orders.
– Re-shop your policies to see if we can lower premiums or find additional discounts.
– Specifically for businesses … lower your anticipated annual gross sales/receipts or payrolls because of your business slow down or employee layoffs.
What are the carriers we represent doing to help out?
– Many carriers have announced (and more are going to announce) premium refunds for the months of the pandemic to reflect the lower vehicle usage. Many carriers have announced a 15% -20% savings for April & May premiums (approximately 2.5% – 3% of your annual premium).
– Extending payment due dates and working out new payment options.
– Adjusting coverage terms if you are temporarily using your vehicle to deliver goods during the pandemic and alert your agent.
– Donations to COVID-19 causes in the states they operate.
– One recent example …. One of our clients who is a nurse recently had her car broken into (broken side window, damage to interior, etc.) while she was on a shift at the hospital. We asked her carrier if they could waive her deductible based upon the circumstances. They were happy to help!