Coronavirus: Allstate will return $600M in auto premiums to customers

The Good Hands People plan to put money back in their customers’ hands.

Insurance giant Allstate announced Monday that it would return more than $600 million in auto insurance premiums to customers, who have been driving less as states have implemented stay-at-home or shelter-in-place orders to battle the coronavirus.

The company announced on its website that customers who own Allstate, Esurance and Encompass auto insurance policies will receive 15% of their monthly premiums in April and May.

Customers will receive the money through a credit to their bank account, credit card or Allstate account, the company said. In a news release, Allstate said the fastest way to receive the payback is to use the company's mobile application.

"Allstate has been helping customers overcome catastrophes for 89 years since our purpose is to make sure they are in Good Hands. We have learned to move quickly and put people first," Tom Wilson, Allstate's CEO, said in a statement. "This crisis is pervasive. Given an unprecedented decline in driving, customers will receive a Shelter-in-Place payback of more than $600 million over the next two months.

"This is fair because less driving means fewer accidents. We are also providing free identity protection for the rest of the year to all U.S residents who sign up, since our lives have become more digital.”