MEMPHIS, Tennessee —
Car insurance companies are giving drivers a break during the coronavirus pandemic. Many of you may have already gotten communications of cost savings on your premiums. It only makes sense that your insurance company would credit its customers at a time when fewer drivers are on the road. When you purchase your insurance your premium is based on your age, car safety features and the miles you drive.
But it's certainly nice when your insurance company acts like a good neighbor and extends those good hands.
"Because Tennesseans are doing their part and staying home the number of drivers on the road has plummeted," said Tennessee Governor Bill Lee.
For that reason, auto insurers like All-State, Gieco, Farmers, and USAA informed their customers they would get credits adding up to, in some cases, the equivalent of one month’s premium.
If your car insurance company is riding to your aid like Geico, it could be in the form of a 15% credit between April 8 and October 7. USAA customers will also get a 20% credit applied to their bill and special payment arrangements are available. All-State is giving the 15% credit too as they report data that shows Americans are driving on average 50 fewer miles as stay at home orders stand in most of the U.S.
RELATED: Economist advises the best thing you can do when you get your stimulus check is to hold onto it
"I want to commend those insurance carriers. Many companies across our state for returning savings directly back to Tennessee customers," said Lee.
With fewer drivers on the roads there have been reports of fewer accidents. Drivers can thank that for the additional savings at a time when many are looking to make ends meet.