US insurer The Allstate Corporation (Allstate) has announced that it will extend its Shelter-in-Place Payback scheme through June to help its personal auto customers during the COVID-19 pandemic.
The scheme is designed to return premiums to customers as they drive less and get in fewer accidents during the crisis.
Originally set to run only through April and May, customers that insured their vehicle with Allstate, Esurance, and Encompass have seen 15% of their monthly premium returned, amounting to more than $600 million over these two months.
But now Allstate says the scheme will continue through June as lockdown measures remain in place.
The company said the 15% payback reflects its analysis of available data, as well as the average cost per accident has increased, partially offsetting cost savings.
“Allstate is continuing to support customers during the pandemic by extending our Shelter-in-Place Payback,” said Tom Wilson, Chair, President and CEO.
“While more people are back on the roads, the numbers of less severe accidents are below historical levels so the payback will continue through June, representing approximately $1 billion back to customers over three months,” he continued.
“We are also extending our offer to give all U.S. residents free identity protection through the rest of 2020. Together we will get through this pandemic and be stronger.”
