Madison,
19
November
2020
|
11:04 AM
America/Chicago

American Family to increase COVID-related premium relief to $500 million

Company extends 10% credit on monthly personal auto insurance bills through March 2021

Summary

American Family Insurance announced today its third round of premium relief for personal auto insurance customers due to decreased driving and claims from COVID-19, increasing the total amount of relief to $500 million since the pandemic began.

American Family Insurance announced today its third round of premium relief for personal auto insurance customers due to decreased driving and claims from COVID-19, increasing the total amount of relief to $500 million since the pandemic began.

The company said it will extend a 10% credit currently applied to monthly personal auto insurance bills until the end of March 2021, pending regulatory approval. The credit was set to expire at the end of this year.

The 10% credit, which started with July bills, was American Family’s second round of premium relief. The first round was announced in March, with customers receiving a check for $50 per vehicle insured by an American Family personal auto policy in force as of March 11. Those first two rounds combined provided $425 million in premium relief, which included expanded discounts.

“We exist to protect and help our customers,” said Telisa Yancy, American Family chief operating officer. “While driving mileage and claims have recently trended up, we anticipate the numbers will continue to be less than previous years. We want to continue this relief as our customers take measures to safeguard their families and reduce the spread of the virus.”

Monthly bills for coverage within the January-March 2021 time period will reflect the 10% premium credit. Customers who pay in full for coverage that extends into that time period will receive their credit via check. New and existing customers will see the savings on their bills for November and December coverage, plus receive the credit for coverage through March 31, 2021.

Going beyond premium relief

Premium relief is one of several customer- and community-focused steps American Family has taken in response to the pandemic.

Earlier this year, the company’s two foundations – the American Family Insurance Dreams Foundation and the Steve Stricker American Family Insurance Foundation – committed nearly $7 million to non-profit organizations, including those providing COVID-19 relief, to support their efforts to provide for those in need.

In August, American Family Insurance partnered with the Milwaukee Brewers Community Foundation to donate $200,000 to support virtual learning in Milwaukee Public Schools. American Family also donated thousands of dollars in disaster relief for the Colorado wildfire and California and Northwest Pacific wildfires and the Louisiana hurricanes.

“We’re all facing new challenges every day that are exacerbated by the COVID-19 pandemic,” said Yancy, “These programs are simply our way of showing our deep commitment to serve our customers and communities in difficult times. We want them to know and feel we are their partners.”

Additional support for customers

While respecting COVID guidelines, American Family agency owners continue to be available to their customers, including to discuss coverage and payment options if customers face financial difficulties. Customers with questions can call their agent or American Family’s customer care center at 1-800-MYAMFAM (1-800-692-6326). 

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About the American Family Insurance group

Based in Madison, Wisconsin, American Family Insurance has been serving customers since 1927. We inspire, protect and restore dreams through our insurance products, exceptional service from our agency owners and employees, community investment and creative partnerships to address societal challenges. We act on our belief in diversity and inclusion by constantly evolving to meet customer needs and preferences. American Family Insurance group is the nation’s 13th-largest property/casualty insurance group, ranking No. 254 on the Fortune 500 list. The group sells American Family-brand products, primarily through exclusive agency owners in 19 states. The American Family Insurance group also includes CONNECT, powered by American Family Insurance, The General, Homesite and Main Street America. Across these companies the group has more than 13,500 employees nationwide.