The Delaware Department of Insurance has announced that many consumer-friendly automobile insurer actions are being implemented due to reduced vehicle use throughout the COVID-19 pandemic.
As filed with the department, these actions represent millions of dollars being returned to or saved by policyholders throughout the state, according to the announcement.
The department has urged individuals who are experiencing financial hardship due to income changes related to COVID-19 and are unable to pay their premium to contact their insurance company to discuss assistance.
Delaware’s insurance carriers are required to freeze cancellations and nonrenewal of policies that might have otherwise occurred due to non-payment of premiums throughout the duration of the Delaware state of emergency. This is to assist individuals who have been laid off or fired due to the state of emergency.
Residents may be using personal vehicles to augment income through commercial use as well, such as delivering food or other goods, the press release stated. At the request of Insurance Commissioner Trinidad Navarro, many auto insurers are temporarily allowing this activity. The department has encouraged residents to review their insurance company’s COVID-19 policies prior to beginning to provide delivery services.
Source: The Delaware Department of Insurance
Topics Carriers Auto Pricing Trends
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