GEICO offers $2.5 billion in credits to customers
As part of its efforts to assist customers impacted by COVID-19, GEICO is providing a 15% credit on auto and motorcycle policies up for renewal between April 8 and Oct. 7, averaging about $150 per auto policy and $30 per motorcycle policy.
The insurer, which has about 18 million auto customers and 1 million motorcycle customers, will issue credits in the range of $2.5 billion.
“The ongoing crisis has widespread effects that will linger. Our customers have been loyal, and we are committed to doing all we can to help them.” – GEICO CEO Todd Combs.
Previously, GEICO announced it is pausing cancellations of coverage due to non-payment and policy expiration through at least April 30, 2020.