MONTGOMERY, Ala. – Gov. Kay Ivey announced Friday that automobile insurers are returning premium totaling to date more than $100 million, to more than two million Alabama policyholders during the ongoing crisis brought on by COVID-19. Because most drivers are following the governor’s stay-at-home order, there are fewer miles being traveled resulting in fewer accidents. As a result, many auto insurers are now sharing their savings with consumers.
“This is good news for Alabama insurance consumers,” Ivey said. “I want to thank automobile insurance companies for stepping up to the plate during this difficult time and supporting their policyholders. Here in Alabama, the economic impact is greater than $100 million in payments returned to the pockets of consumers at a time when it is badly needed.”
The governor continued, “The list includes many of the top automobile insurers operating in our state. It is my hope that all the others will follow suit, giving needed help to their policyholders in this time of crisis brought on by the ongoing COVID-19 pandemic.”
Alabama Insurance Commissioner Jim Ridling said, “I am pleased that these insurance companies have taken this important step to help so many Alabama consumers.”
Ridling continued, “Many Alabamians are not driving as much right now because of Governor Ivey’s stay-at-home order and emergency declarations. Many consumers are working from home. It only makes sense to discount what consumers are paying for automobile insurance and to provide them some financial relief. I join Governor Ivey today in offering our sincerest thanks.”
At the time of publication, the insurers listed here (https://governor.alabama.gov/assets/2020/04/COVID-19-AL-Auto-Premium-Relief-Companies-Groups.pdf) have announced or provided the Alabama Department of Insurance (ALDOI) with the details of their premium return program.
