Progressive to offer $1 billion in rebates to auto insurance customers

Progressive Insurance has announced that it is providing approximately $1 billion to its auto insurance customers due to the reduced number of claims and less frequent driving brought about by the COVID-19 pandemic. Subject to state regulatory approval, the insurer’s personal auto customers who have a policy in force as of April 30 will be credited 20% of their April premiums in May. Additionally, personal auto customers with a policy in force as of May 31 will be credited 20% of their May premiums in June. Progressive estimated that the sum of both credits will total $1 billion. A release said that customers will not need to take any additional action to receive the benefits, and that the credits will be automatically applied to their policies.