At least 23 companies selling auto insurance in New Hampshire are returning premium to their policyholders, New Hampshire Insurance Commissioner Chris Nicolopoulos announced.
These companies represent more than 90% of the written auto insurance premium in the state. The premium payback programs will return approximately $32 million to New Hampshire consumers either as a credit toward their next bill or as an actual cash refund.
While New Hampshire residents observe the Governor’s Stay-at-Home Order, there are fewer cars on the road and fewer car crashes, according to a New Hampshire Insurance Department press release. As a result, auto insurance companies have reported fewer claims than expected, the release added.
“I want to thank these companies for stepping up to assist their customers during this challenging time,” Nicolopoulos said in the release. “This will result in fairer premium rates for consumers and lowered costs at a time when many families would greatly benefit from anything that limits their household expenses.”
Source: New Hampshire Insurance Department
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