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WHAT YOU NEED TO KNOW ABOUT THE COVID-19 INSURANCE REIMBURSEMENT

16 Mar

WHAT YOU NEED TO KNOW ABOUT THE COVID-19 INSURANCE REIMBURSEMENT

March 11, 2021 marked a year since the lockdown by COVID-19. About a month later, news from Europe caused panic throughout the world because the virus started to transition to a fatal one. What we thought would last two to three weeks, has now reached its first anniversary.

Faced with the contingency we are going through; many government departments and private sectors have joined forces to provide support to everyone during these difficult times.

The California State Department of Insurance doesn’t stay behind either. At the beginning of the contingency, Commissioner Ricardo Lara, made agreements with insurance companies to return between 15% to 18% of auto insurance premiums back to their clients. It doesn’t stop there, most recently the commissioner announced one more reimbursement, of at least 17%.

Who is eligible for this rebate?

Everyone who owns an auto insurance policy, regardless of the type of insurance, car, legal status, or whether you stopped using your vehicle during the lockdown.

On what basis, are they giving this reimbursement?

 Due to the pandemic, many people lost their jobs, many companies sent their employees to work remotely, and schools are taking place remotely as well. These circumstances caused a decrease of people using their vehicles and a reduction in traffic.

Less vehicles on the road, the lower the risk of having a car accident. In fact, insurance companies saw a considerable drop in accidental claims.

Based on this fact, the Department of Insurance took action and placed an order for all insurance companies to return a portion of the premiums back to the clients.

What should I do if the refund does not arrive?

Contact the California Department of Insurance by filing a complaint at https://cdiapps.insurance.ca.gov/CP/login/ and they will investigate the reason for the delay. You can track the status of the reimbursement here as well.

To conclude

 Commissioner, Ricardo Lara, recommends and emphasizes that you investigate and find the best option for your auto insurance. Our job at Adriana’s Insurance is to find you the best company based on your needs, with the best price for your budget.

For more information visit our website or give us a call at 1-800-639-7654 to find out how Adriana’s Insurance helps you stay safe. We protect you!