Columbus, Ohio-based Encova Insurance plans to issue a 15% policy credit to more than 80,000 personal auto policyholders for the months of April and May.
Data has continued to show that as fewer vehicles are on the road due to the suspension of nonessential travel, fewer accidents are occurring. As a result, Encova has joined other regional and national auto insurers in providing relief to their policyholders.
Encova, a super-regional mutual carrier, has extended grace periods and suspended non-payment cancellations for a period of time for policyholders impacted by COVID-19. In addition, Encova has provided support for insured restaurant owners who do not typically offer delivery services with a hired non-owned auto endorsement on a temporary basis, and they have aided business owners to help protect their buildings and properties during COVID-19 closures.
Recently, the Encova Foundation of Ohio and the Encova Foundation of West Virginia donated $130,000 to 26 foodbanks across their geographic footprint. The Encova Foundation of Ohio has also partnered with United Way of Central Ohio’s COVID-19 Community Response Fund.
No additional action is required by policyholders to receive credit. Credit will be directly applied to their bill, or if a policyholder has already paid in full, a check will be issued. Credits are subject to regulatory approval.
Encova has more than 1,200 associates writing in 28 states and the District of Columbia, premiums in excess of $1 billion, a surplus in excess of $1.6 billion and assets in excess of $4.1 billion. The group markets insurance products and services through more than 2,000 independent agencies in the Midwest, Northeast and South.
Source: Encova Insurance
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