MADISON, Wis. (WMTV) -- With the coronavirus pandemic keeping people at home more and on the road less, American Family plans to return hundreds of millions of dollars to drivers.
“American Family Insurance is doing this out of responsibility to our customers. They are driving less and experiencing fewer claims,” COO Telisa Yancy explained.
American Family will provide $50 in premium relief for each vehicle it insures, it explained. The insurance giant points out that its customers have an average of two cars per household, which means most families will get a $100 check.
Wisconsin customers will start receiving their checks in the middle part of this month, while customers around the country should get their money within the next 60 days. The company will need to get approval from the insurance commission in each of the 18 other states where it operates before sending checks to that state.
“Our customers are at the center of everything we do,” said Yancy. “We are financially strong, and in a position to provide these payments to our customers at a time when it makes a meaningful difference.”
The payments will be based on the policies that were in force on March 11, 2020.
Last week, the company announced that it will be providing up to $6.8 million to COVID-19 relief and other non-profits.