By Rockne Corbin
Say Insurance® was among the first to take the stance of continuing coverage when a customer could not pay their premium, and now Say will join others in our industry in finding ways to provide relief to our customers who insure their personal vehicles with us.
Many of our customers are under unprecedented stay-at-home orders and social-distancing mandates, so they are driving fewer miles and experiencing fewer accidents. In the interest of providing help to our customers now, when they need it most, Say will issue a payment to our policyholders representing approximately 30% of their personal auto monthly premium for the months of April and May as long as the policy was active on March 31, 2020, based on our best estimate of the impact of this pandemic on our customers and on Say’s business.
We will work diligently to obtain approval from the Departments of Insurance in each state we serve to get this money into our customers’ hands as quickly as possible. If a customer paid their premium automatically through a bank account, we will deposit directly into the account when possible. Otherwise, we will mail a check.
Say always strives to do the right thing. We will continue to evaluate this rapidly evolving situation and do what we can to help our customers and employees.
Posted April 8, 2020 in Say Insights.