Auto insurers to return more than $187 million in premium to Louisiana drivers through rebates, reductions

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BATON ROUGE – Insurance Commissioner Jim Donelon acknowledges the auto insurers in Louisiana and across the country for providing premium reductions and rebates to policyholders during the ongoing crisis brought on by COVID-19.

Because most drivers are following the stay at home order, there are less miles being traveled which has resulted in fewer accidents.

As a result of this dynamic, many auto insurers are now sharing their savings with consumers.

“I applaud our auto insurers on supporting their policyholders and our economy with these programs,” said Commissioner Donelon.  “Here in Louisiana, the economic impact of these rebate programs is greater than $187 million in payments returned to the pockets of consumers at a time when it is sorely needed. This list includes 13 of the top 20 auto insurers doing business in Louisiana and it is my hope that the other seven auto insurers will follow suit in this time of crisis for their policyholders brought on by the ongoing COVID-19 pandemic.”

At the time of publication, the insurers below have announced or provided the Louisiana Department of Insurance (LDI) with the details of a rebate or rate reduction program.

PRIVATE PASSENGER AUTOMOBILE Companies Offering Premium Payback Due to COVID-19
Group/Company2019 Written Premium2019 Market ShareCOVID-19 Related Return Premium# Months Return PremiumProjected Return Premiums
STATE FARM GRP$ 1,442,012,58029.5%25%2.37$ 71,099,231
PROGRESSIVE GRP$ 803,097,94416.4%20%2$ 26,769,931
BERKSHIRE HATHAWAY (GEICO)$ 571,941,64011.7%15%6$ 42,895,623
ALLSTATE INS GRP$ 540,137,65511.1%15%2$ 13,503,441
USAA GRP$ 294,072,2696.0%20%2$ 9,802,409
FARM BUREAU GRP$ 262,659,5155.4%15%2$ 6,566,488
LIBERTY MUT GRP$ 197,963,5544.1%15%2$ 4,949,089
GOAUTO INS CO$ 163,079,5833.3%15%2$ 4,076,990
SHELTER INS GRP$ 69,820,6821.4%30%2$ 3,491,034
METROPOLITAN GRP$ 41,273,1850.8%15%2$ 1,031,830
KEMPER CORP GRP$ 33,705,4620.7%15%2$ 842,637
HARTFORD GRP$ 26,937,5390.6%15%2$ 673,438
HANOVER INS GRP$ 20,640,2800.4%15%2$ 516,007
AMERICAN FAMILY GRP$ 14,207,6870.3%$50.00**$ 256,500
FARMERS INS GRP$ 7,170,6090.1%25%2$ 298,775
AMICA MUT GRP$ 4,901,6550.1%20%2$ 163,389
CHUBB LTD GRP$ 4,819,4460.1%35%2$ 281,134
TRAVELERS GRP$ 1,276,2890.0%15%2$ 31,907
TOTAL ALL COMPANIES$ 4,458,444,38992.1%$ 187,249,854

American Family is offering a flat $50 per vehicle

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