Insurance Companies Offering Relief
- Many health insurance auto insurance information mill providing some type of financial relief due to COVID-19.
- Check to determine what your insurance companies are offering.
- Reductions might be retroactive to March.
Some insurance providers, specifically health insurance auto insurance companies, are providing some form of financial relief, for example reducing premiums, due to the COVID-19 pandemic.
As an effect, we recommend you speak to your insurance companies to determine which type of relief they might be offering. When not enough, try to exercise a person repayment plan together with your insurer. You need to observe that what one insurance provider might be offering won't necessarily be standard through the country, so reaching out to your lenders directly is essential to ensure you're properly informed.
For example, California Insurance Commissioner ordered all insurance companies to “provide a premium credit, reduction, return of premium, or any other appropriate premium adjustment as quickly as possible. These reductions or any other types of adjustment, ordered by the state, are retroactive to March of 2021.
America's Health Insurance Plans (AHIP) has listed what major healthcare providers do to alleviate the financial burdens caused by COVID-19, such as waiving co-pays, removing deductibles, eliminating prior authorizations, and much more, with respect to the provider. See the list here.
Many auto insurance companies are providing discounts, credits, refunds, rebates, and much more:
- Hanover Insurance Group
- Liberty Mutual
- Nationwide (Nationwide can also be providing financial relief for home and business customers)
- State Farm
In the meantime, Credit Sesame is really a free valuable resource to help you monitor and protect your credit and explore other credit options during these uncertain times.
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