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Keep Doing the Little Things: Insurance companies pitch in

Brad Christian, Independent Insurance Agent

As Mr. Roger’s mother would say, when the news is scary, “always look for the helpers.”   Given the number of challenges we are all facing during this time, I’m inspired to see the many ways that people are pitching in and helping others adjust – whether that’s parents who are now partially homeschooling their kids, medical staff, first responders, grocery clerks or the 8pm Howlers, it builds hope to see how people are banding together.

Even property and casualty insurance companies are trying to find ways to help their clients financially.   Hopefully, your P&C company is working to find you some relief.  Each company has their own approach, here are some examples of what most major P&C companies are doing:

  • In March, many insurance carriers announced they would not cancel policies for non-payment and that they would waive late fees.  Some insurance companies are literally not sending invoices for renewals.  Instead, they are just telling their clients they are covered and will worry about payment at a later date.
  • Endorsements and coverage extensions are being added temporarily for free to business insurance policies.  For example, if you are a restaurant that never provided delivery, your insurance most likely did not have commercial auto coverage.  Some insurance companies are automatically providing commercial auto coverage to restaurants incase their employee has an accident while on the road.
  • Most major insurance companies have been providing refunds/credits for your auto coverage.  As people are driving less (I've driven ~15 miles in the past 28 days), the insurance companies are taking on less risk.  They are passing on that benefit to their clients.  

For specific information on how your provider is helping you, refer to their website.  Or, if you have one, call your agent.

Here is my call to action – do something yourself to help another!

 

Colorado Independent Insurance Agent, Brad Christian