Many of our carrier partners have extended or even canceled non-payment notices for premiums due. Please call or email us if you would like to see if your carrier is one of them.
Recent headlines have named companies giving back to the tune of $800+ million to their insureds. Any company willing to give back money from profits is doing a great deed, especially during these unprecedented times.
There’s a common misconception, however, driven by the way the post was written and we would like to clarify.
From what we understand, most companies will be giving back 15% of an insured’s average monthly premium during April and May. The average cost for a single car insurance policy in Massachusetts is about $100 monthly. This will, of course, vary based on circumstance. This means that with an average bill of $100, insureds can expect to receive a check for about $15 in April, and $15 in May.
While this is an extremely nice gesture, I feel we owe an obligation to let you know what this really means for you. A headline of “Insurers to give back hundreds of millions in insurance premium” leads customers to think they will be getting back thousands of dollars or potentially be off the hook for their bill. This is not the case, we just wanted to take the time to explain what you can truly expect. If you have any questions please call us at 978-688-6921 and dial the extension of your Account Manager.