Several Nevada drivers are set to receive premium refunds for their auto insurance policies as a result of less claims being paid as Nevadans continue to stay at home during the COVID-19 crisis.
“There are fewer cars on the road here in Nevada and many insurance carriers have reported significant decreases in claims,” Nevada Insurance Commissioner Barbara Richardson said in a statement. “Fewer claims saves money which the carriers are now providing back to their consumers. This means money will be going back to consumers’ pockets in a time when relief is needed the most.”
The Division of Insurance has reviewed and approved recent requests from auto insurance companies to provide premium refund credits, checks, dividends, and similar measures in response to the stay-at-home orders and other disruptions brought about by the pandemic.
Consumers whose insurance companies are currently participating will be notified directly by their insurance company.
The division is encouraging more insurance companies to consider taking this step, and says it will promptly review all filings and will approve all reasonable proposals for consumer relief.
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