Consumer groups say some auto insurance rebates are too small

Consumer group | April 24, 2020

The Consumer Federation of America (CFA) and the Center for Economic Justice (CEJ) have updated their scorecard for insurance companies and their auto insurance premium rebate measures, concluding that some of the largest insurers in the US are short-changing their customers.
Both consumer groups noted that US auto insurers will return a total of over $7 billion in premium refunds and credits to customers through May. Despite this, the drop in auto insurance claims driven by reduced driving is far greater than $7 billion, CFA and CEJ noted.
According to the consumer groups, insurer’s relief to customers ranged from 10% to 35% of two months of premiums; the “vast majority” of insurers said that they would give back 15%.

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