Rural Mutual Insurance to refund its Wisconsin customers $3.5M
Madison-based Rural Mutual Insurance Company will return approximately $3.5 million to Wisconsin customers in 2020.
The company said to help ease some of the financial burden caused by the COVID-19 pandemic, it's refunding 15 percent on two months of personal auto premiums to all active policyholders as of March 31, 2020.
In combination with the Rural Mutual Farm Dividend Program, this refund will return about $3.5 million to customers. Since Rural Mutual only does business in Wisconsin, this monetary support will go directly to local families, farmers and small businesses in the state.
No action is needed by customers. They can expect to see these refund checks in the mail in the coming weeks.
As a result of the state's Safer at Home order, Rural Mutual said people have been driving less and it has received fewer auto insurance claims over the past month.
"We are fortunate to be in a position to give back to our customers in a time when they need us most," said Dan Merk, Rural Mutual executive vice president and CEO. "You don't often see insurance companies give premiums back in the form of a refund, but I think many in the industry are stepping up and realizing this is the right thing to do."