The insurer Allstate said Monday it will return more than $600 million in auto insurance premiums to customers as many Americans stay home and drive less during shelter-in-place orders to curb the coronavirus outbreak.
Most customers will receive a payback of 15% of their monthly premium in April and May, the company said.
The payback, which will apply to 18 million policies issued by Allstate and its Esurance and Encompass units, follows a data analysis by the insurer that showed mileage is down between 35% and 50% in most states, Allstate Chief Executive Officer Tom Wilson said during a call with reporters Monday.
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