Great news: the Shelter-in-Place Payback is being extended through June 30, 2020, for personal auto customers. U.S. residents can also receive free Allstate Identity Protection for the year by signing up by June 30. There are a few differences from previous paybacks – read on to learn more.
We led the industry by providing customers with a payback program, and have returned more than $600 million in April and May (May and June in New York), along with our Special Payment Plan and commercial auto endorsement. As our data shows customers continue to be driving less and getting in fewer accidents during the pandemic, we are extending the Shelter-in-Place Payback through June 30, 2020, for personal auto insurance customers. And more great news – motorcycle customers are included in the June payout as well!
And it should be noted that over the three-month period, Allstate is returning approximately $1 billion to our customers, without impacting agency commissions.
- Motorcycle insurance customers are included.
- Customers will receive an automatic credit to their accounts, with most receiving 15% of their monthly premiums.
- The amount reflects Allstate and Encompass’ disciplined analysis of available data. The average cost per accident has increased, partially offsetting cost savings.
- You will be kept informed of the final amount as filings are submitted and approved.
- We are applying the June payback to the customer’s Allstate or Encompass account. Certain customers, like those who paid in full, will have their June paybacks applied to a bank account, credit card or via check – see the FAQs linked below for the details.
- In New York, the paybacks will be one month later. Eligible customers with an active policy in force as of April 30, 2020 should have received the May payback in mid-May and those with policies in force as of May 31, 2020 can expect the June payback in mid-June. We also expect to issue a third payment in July for policies in force as of June 30. The 15% payback will be based on the monthly premium as of those dates. Other than the payback dates, there are no changes to the program for New York.
- Communications about the June payback will occur at the end of May. Keep an eye on My Allstate Connection or Encompass Express.
- The sign-up period for free identity protection for all U.S. residents will also be extended to June 30, 2020.
The Shelter-in-Place Payback can be a great opportunity to reach out to customers and prospects and increase retention, uncover cross sell opportunities and grow your book of business.
Thank you for everything you and your teams are doing to support our customers during these challenging times.