In light of the reduction in drivers on the road due to COVID-19 epidemic, Texas-based Germania Insurance will give back nearly $6 million in credits to its personal auto insurance policyholders.
The company said through its Reduced Driving Payback, a payment of $25 will be provided for each personal auto policy that was in effect as of March 31, 2020, and an additional $25 payment will be provided for each personal auto policy that is effective as of April 30, 2020.
Payments are subject to regulatory approval.
Germania will automatically deposit the $25 credit to the account of each eligible policy, reducing the current balance due. For accounts paid in full, a refund check will be issued and mailed. This process will begin later this month and will be repeated in May.
The payment process will be automatic, and no action is required by Germania policyholders to receive these credits.
In addition to the Reduced Driving Payback, Germania is waiving installment fees for all customers.
Germania has also modified its claims process to accommodate the growing number of vehicles being utilized for delivery purposes. Both of these changes will be implemented through the end of May.
Germania is continuing to work with policyholders facing financial challenges during this time to modify payment plans as needed.
Germania joins other national and regional carriers in returning premium dollars to customers and extending other assistance to policyholders during the current health crisis.
Founded in 1896, Germania Insurance, a farm mutual insurance company, provides auto, property, and life insurance for thousands of Texans.
Source: Germania Insurance
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