Progressive’s actuary indicated a 22.8% refund was warranted. But it gave back 20% for April and May. Some discounts have ended, though many people are still driving less.
By Stephanie Zimmermann Jul 3, 2020, 5:45am CDT
Normally busy Lake Shore Drive’s light traffic shows that, even with driving trips rebounding from April’s lows, many people are still working from home, driving less — and thus getting into fewer accidents that insurers have to pay claims on. Pat Nabong / Sun-Times
This spring, when COVID-19 began spreading and the country largely shut down, many auto insurers boasted about the money they were giving back to consumers.
The refunds to those who insured with them typically were about 15% to 20% of a monthly premium