Farmers Alliance Provides Premium Refund To Personal Auto Policyholders
June 4, 2020
At Farmers Alliance we continue to monitor the impact of the current COVID-19 pandemic on our employees, our agency partners, and our valued policyholders. Throughout the country, quarantines and “safer-at-home” orders have dramatically reduced the use of many personal vehicles. Even in our predominantly rural territory, we have seen less travel during the past several weeks, and ultimately less auto accidents. Farmers Alliance has experienced savings due to this change, and we are now passing that savings to our personal auto policyholders.
We work hard to ensure that our premiums are fair and reasonable, but because this situation could not have been predicted when policy rates were established, we believe sending a one-time refund of a portion of the premium is the right thing to do. The premium refund is based on the number of cars, pickups and vans insured on a personal auto policy with us. These refunds will not affect future premium calculations for these policies, and checks will be mailed to personal auto policyholders during the next several weeks. The refunds are subject to regulatory approval, which is anticipated very soon.
As a reminder, we continue to assist any policyholder who is unable to pay their premium due to the current situation. Through our agency partners, we continue to work with our customers on request by extending premium grace periods, waiving late payment fees and continuing coverage for any expiring policies.
If your agency office is closed to visitors to help prevent the spread of the virus, they are accessible and responsive by phone or email. If you can’t reach your agent, please contact us at 800.362.1075 and we can help.
Thank you for continuing to place your trust in Farmers Alliance. We pledge to continue to work each day to earn that trust, and to do all we can to provide peace of mind for you and all those we serve.
President & Chief Executive Officer