Insurers should consider refunds of auto premiums to Washington drivers

State Insurance Commissioner Kreidler issues request

Mike Kreidler

Mike Kreidler

State Insurance Commissioner Mike Kreidler on Tuesday urged all insurers doing business in Washington to consider refunding auto insurance premiums to their policyholders since most are driving less.

Kreidler said people are driving less in Washington because of Gov. Jay Inslee’s Stay Home, Stay Healthy order issued in late March and extended statewide through May 4, according to a media release from the state Office of the Insurance Commissioner. The governor said recently that traffic on the state’s roads and highways is down as much as 50% over the last month.

Such a decline reduces the risk of accidents, associated injuries and property losses.

“Some insurers have already stepped up to refund premiums to their policyholders,” Kreidler said in the media release. “I encourage other insurers to consider doing the same during the pandemic. It’s another way the industry can help consumers during a time of great need financially and otherwise.”

Some insurers have already announced refunds nationwide to policyholders. They include:

* Allstate

* American Family Insurance

* Liberty Mutual

Insurers that want to refund premiums for a specific period must submit a rate filing with Kreidler’s office. Kreidler said he is expediting reviews for approval. About 120 companies provide auto coverage in Washington.

Kreidler also noted that more insurers are offering endorsements on existing auto insurance policies to help delivery drivers for retail and service operations during the pandemic and stay-home order. The commissioner recently urged insurers to help out.

The endorsement doesn’t apply to people who drive for other commercial reasons, including rideshare or any commercial delivery businesses. The endorsement would remain in effect as long as the emergency order is in place.

If you are conducting delivery for a business during the emergency and aren’t sure if your auto policy covers you for that use, contact your insurer.


Talk to us

Please share your story tips by emailing editor@covingtonreporter.com.

To share your opinion for publication, submit a letter through our website https://www.covingtonreporter.com/submit-letter/. Include your name, address and daytime phone number. (We’ll only publish your name and hometown.) Please keep letters to 300 words or less.

More in Business

Robert Toomey, CFA/CFP, is Vice President of Research for S. R. Schill & Associates on Mercer Island.
News of market volatility has felt like a pinball machine lately | Guest column

Webster’s dictionary defines the word volatility as “characterized by or subject to… Continue reading

Robert Toomey, CFA/CFP, is Vice President of Research for S. R. Schill & Associates on Mercer Island.
Volatility and disciplined planning in 2022’s stock market | Guest column

The stock market in January experienced significantly increased volatility. In the first… Continue reading

Snoqualmie Casino. Courtesy photo
Kirkland-based company sues to challenge ‘tribal gaming monopoly’ in Washington

Company called the state’s policy an “erroneous application of the Indian Gaming Regulatory Act.”

Robert Toomey, CFA/CFP, is Vice President of Research for S. R. Schill & Associates on Mercer Island.
The forces behind our current COVID-induced inflation | Guest column

Recent inflation numbers have been quite high and at levels not seen… Continue reading

Teaser
Best of Covington 2021 winners announced

Categories range from People, Restaurants, Services and Shopping.

Robert Toomey, CFA/CFP, is Vice President of Research for S. R. Schill & Associates on Mercer Island.
The ‘year end’ elements of financial planning | Guest column

With the end of the year fast approaching, we remind clients that… Continue reading

Robert Toomey, CFA/CFP, is Vice President of Research for S. R. Schill & Associates on Mercer Island.
How financial planners address plan uncertainty | Guest column

One of the key challenges we face as financial planners is dealing… Continue reading

t
Nana’s Southern Kitchen opens Covington location

Restaurant started in Kent in 2019

Robert Toomey, CFA/CFP, is Vice President of Research for S. R. Schill & Associates on Mercer Island.
Is cryptocurrency really an investment? | Guest column

Undoubtedly you have heard about the new form of money known as… Continue reading

Stock photo
Grocery store workers have right to wear Black Lives Matter buttons

National Labor Relations Board ruling against ban by Kroger-owned QFC, Fred Meyer

A Darigold dairy worker practices picketing as a strike is approved by the union. Photo courtesy of Julia Issa
Puget Sound Darigold workers on verge of strike amid contract negotiations

Workers cite lack of medical leave, outsourcing and bad-faith negotiations as reason for strike.

Dave and Buster's restaurant and entertainment venue looks to hire 130 people to staff its Bellevue venue, set to open in August. Photo courtesy Dave and Busters.
Dave and Buster’s hiring 130 for August opening in Bellevue

Dave and Buster’s restaurant and entertainment venue opens in downtown Bellevue on… Continue reading