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June 1, 2020

Travelers extends Covid-19 auto premium credit programme to June

The Travelers Companies has extended its Stay-at-Home auto premium credit programme, offering its US personal auto insurance customers a 15% credit on their June premiums.

Under the programme, the company is already providing its customers with a credit on their April and May premiums as a measure of relief amid the Covid-19 pandemic.

The company is currently working with regulators to obtain all the necessary approvals to stretch the programme.

Travelers chairman and CEO Alan Schnitzer said: “We have been evaluating our various Covid-19 relief programmes in an effort to determine how we can best support our customers, agents, brokers and communities.

“Our data suggests that the trend of fewer miles driven in April and May is likely to continue through June, and we’re pleased to provide an additional credit to customers. As cities and states begin to lift restrictions, we’ll continue to closely monitor the environment to understand the impact on driving behaviours and claims.”

The Stay-at-Home auto premium credit programme adds to the company’s Covid-19 response initiatives.

Travelers is currently offering billing relief to customers and is funding over $100m in commission payments to eligible agents and brokers.

The company also pledged $5m to help families and communities affected by the Covid-19 pandemic in North America, the UK and Ireland.

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