Texas Farm Bureau Insurance to refund over $20 million to auto insurance customers

Texas Farm Bureau Insurance | April 29, 2020

Texas Farm Bureau Insurance (TFBI) is refunding more than $20 million to it auto insurance customers, in response to the decrease in accidents following COVID-19 social distancing rules.
A release explained that the company’s auto insurance policyholders will be credited and/or refunded 15% of their insurance premiums for two months. Those credits/payments will begin May 15, 2020.
Policyholders will not need to take any action to claim their credit refund, TFBI said. For those who have a payment schedule, they will receive a credit on their future billing statement. Those who have paid their policies in full will receive a refund check through the mail.
“Texas’s streets have been quieter than usual as everyone joins forces to do the important work of flattening the curve,” said TFBI executive vice-president Mike Gerik. “With fewer drivers on the road resulting in fewer accidents, we are pleased to be able to make this premium refund to our policyholders.

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Welcome to our Insurance Vlog called "WTH..." We are going to help answer your insurance questions and why insurance matters. Insurance is a word not many people like. We might not necessarily want it but we sure as hell need it. Hopefully, we will never need to use it, but if you drive a car, own a home, or  have a business, there is a good chance you will have to use insurance to pay a claim at some point in your life. AND hopefully, you have life insurance because WHEN, not IF you die, the policy will pay out to your loved ones. Enjoy the episode and we look forward to sharing more videos on topics you care about or we just want to talk about.

Spotlight

Welcome to our Insurance Vlog called "WTH..." We are going to help answer your insurance questions and why insurance matters. Insurance is a word not many people like. We might not necessarily want it but we sure as hell need it. Hopefully, we will never need to use it, but if you drive a car, own a home, or  have a business, there is a good chance you will have to use insurance to pay a claim at some point in your life. AND hopefully, you have life insurance because WHEN, not IF you die, the policy will pay out to your loved ones. Enjoy the episode and we look forward to sharing more videos on topics you care about or we just want to talk about.

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