WOODLAND HILLS, Calif., April 7, 2020 /PRNewswire/ -- With many small businesses struggling as a result of stay-at-home orders designed to help deter the spread of the coronavirus (COVID-19), Farmers Insurance® announced today it will provide additional relief to more than 115,000 of its business insurance customers under its Farmers® Cares initiative. Business customers in the restaurant, office, retail and service sectors across the country will receive a 20 percent monthly credit on their Business Owners Policy (BOP) for the next two months on their upcoming premium notices.
"We understand how challenging running a business can be, particularly in these extraordinary times, and we want our business insurance customers to know Farmers cares and we want to help," said Sharon Fernandez, president of business insurance for Farmers®. "For the next two months, many of our business insurance customers will see a 20 percent premium reduction."
This 20 percent monthly credit to their BOP policies is on top of other measures the insurer has already taken to help business insurance customers, such as temporarily pausing policy cancellations due to non-payment, through May 1, 2020. Additionally, for all business insurance customers, Farmers has made adjustments to allow extra time for business insurance customers to pay for their policies.
Restaurant, office, retail and service business insurance customers do not need to take any action to make this credit effective on their policy; it will be done automatically by Farmers. As conditions continue to evolve, Farmers will monitor events and will respond appropriately. Customers with questions can call 888-327-6335.
Farmers is working with the various Departments of Insurance to implement this credit program quickly on behalf of its customers.
About Farmers Insurance
"Farmers Insurance®" and "Farmers®" are tradenames for a group of insurers providing insurance for automobiles, homes and small businesses and a wide range of other insurance and financial services and products. Farmers Insurance is proud to serve more than 10 million households with over 19 million individual policies nationally, through the efforts of more than 48,000 exclusive and independent agents and approximately 21,000 employees. Farmers Insurance Exchange®, the largest of the three primary insurance insurers that make up Farmers Insurance, is recognized as one of the largest U.S. companies on the 2019 Fortune 500 list.
For more information about Farmers Insurance, visit Farmers.com, Twitter and Instagram, @WeAreFarmers, or Facebook.com/FarmersInsurance.
SOURCE Farmers Insurance