By Micah Maidenberg

 

Allstate Corp. said it will send personal automobile insurance customers $600 million collectively over the next two months as the coronavirus pandemic results in less driving and therefore fewer accidents.

The insurer on Monday said those who have auto insurance through its various platforms will receive 15% of their monthly premium in April and May, totaling $600 million.

"Customers will receive the money back through a credit to their bank account, credit card or Allstate account," the Northbrook, Ill.-based company said.

Allstate also said customers who buy its auto or homeowners insurance products and are facing financial hardship can delay two consecutive premium payments under a special payment plan without penalty or can choose to pay what they can afford.

The company is expanding insurance coverage for people who use personal vehicles to deliver food and other essential goods for commercial purposes.

 

Write to Micah Maidenberg at micah.maidenberg@wsj.com

 

(END) Dow Jones Newswires

April 06, 2020 08:45 ET (12:45 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.
Allstate (NYSE:ALL)
Historical Stock Chart
From Feb 2024 to Mar 2024 Click Here for more Allstate Charts.
Allstate (NYSE:ALL)
Historical Stock Chart
From Mar 2023 to Mar 2024 Click Here for more Allstate Charts.