Farmers will provide additional relief to more than 115,000 of its business insurance customers
With many small businesses struggling as a result of stay-at-home orders designed to help deter the spread of the coronavirus (COVID-19), Farmers Insurance announced it will provide additional relief to more than 115,000 of its business insurance customers under its Farmers Cares initiative. Business customers in the restaurant, office, retail and service sectors across the country will receive a 20% monthly credit on their Business Owners Policy (BOP) for the next two months on their upcoming premium notices.
“We understand how challenging running a business can be, particularly in these extraordinary times, and we want our business insurance customers to know Farmers cares and we want to help,” said Sharon Fernandez, president of business insurance for Farmers®. “For the next two months, many of our business insurance customers will see a 20 percent premium reduction.”
This 20 percent monthly credit to their BOP policies is on top of other measures the insurer has already taken to help business insurance customers, such as temporarily pausing policy cancellations due to non-payment, through May 1, 2020. Additionally, for all business insurance customers, Farmers has made adjustments to allow extra time for business insurance customers to pay for their policies.
Restaurant, office, retail and service business insurance customers do not need to take any action to make this credit effective on their policy; it will be done automatically by Farmers. As conditions continue to evolve, Farmers will monitor events and will respond appropriately. Customers with questions can call 888-327-6335.
Farmers is working with the various Departments of Insurance to implement this credit program quickly on behalf of its customers.
