4/14/20-HOW CONSUMERS CAN GET THEIR FAIR SHARE OF OVER $6 BILLION (AND GROWING) AUTO INSURANCE REFUNDS DUE TO COVID-19
- April 14 2020
- By: info@njcfe.org
- 0 Comment
HOW CONSUMERS CAN GET THEIR FAIR SHARE OF OVER $6 BILLION (AND GROWING) AUTO INSURANCE REFUNDS DUE TO COVID-19
April 13, 2020 | consumerfed.org
In March (18th and 30th) CFA and CEJ called on nation’s Insurance Commissioners for immediate premium relief for policyholders due to lower insurance risk because of dramatically reduced driving.
Washington, D.C. — Insurance experts from Consumer Federation of America (CFA) and Center for Economic Justice (CEJ) will identify the latest auto insurance premium credits and refunds being offered by some (not all) insurers due to the dramatic decline in miles driven during the COVID-19 crisis. The response from the nation’s insurers varies considerably and a new CFA Report: Auto Insurer Response to COVID-19 will identify the significant discrepancies in consumer benefits on a company by company basis, including those companies who have not reduced their rates. Because auto insurance is required by law (except in New Hampshire) consumers pay over twice as much each year (over $250 billion) to insure their vehicles as they do to insure their homes.
click here to read more