WOODLAND HILLS, Calif., April 30, 2020 /PRNewswire/ -- Farmers Insurance® and 21st Century Insurance® today announced they are extending additional relief to customers via a 15% reduction in May auto premiums for drivers with Farmers® and 21st Century®-branded personal auto policies. May's premium credit reflects a continued reduction in miles-driven, but anticipates increased driving activity based on trending data from recent weeks.
"Farmers Insurance and 21st Century remain committed to helping customers through these unprecedented times," said Jeff Dailey, chief executive officer for Farmers®. "While we are taking further action to reduce auto premiums by 15% in May, we will remain agile and data-driven in our approach to any future adjustments."
In addition, the insurers are automatically extending coverage, for no additional charge, to customers with Farmers branded personal auto and motorcycle policies who are making food, grocery, pharmacy and medical supply deliveries using their personal vehicles through May 31.
Following its previously announced reduction in April personal auto premiums, Farmers estimates customers with Farmers and 21st Century-branded policies will realize an approximate combined savings between $65-$70 in their April and May personal auto premiums on average, and more than $280 million in total savings for customers across the country. These Farmers and 21st Century customers will not need to take any action to receive this new, additional credit.
Additionally, for new business and existing customers not currently enrolled in the usage based insurance tool, Signal®, Farmers is continuing to make that program available for drivers to immediately save 5% to 15% on their auto insurance premiums. Signing up for Signal® will allow customers to move their rates toward the risk they represent, over the long term.*
As previously announced, more than 115,000 Farmers business insurance customers in the restaurant, office, retail and service sectors across the country are receiving a 20% credit on two months of their Business Owners Policy (BOP) premium.
The two months of credits to business insurance customers, combined with the announced April and May premium reductions for the aforementioned personal auto customers, will provide approximately $300 million in total customer savings.
Customers seeking additional information on other ways to save are encouraged to contact their local Farmers Insurance agent. Customers can also reach out to Farmers to discuss possible payment flexibility options.
Farmers is working with the various Departments of Insurance to implement these relief efforts on behalf of customers. The insurer will also continue to comply with any state specific mandates. Updates can be found at www.farmers.com/covidresponse.
*Signal is not available in California, Hawaii, New York and South Carolina.
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 5 million households with over 15 million individual policies nationally, through the efforts of more than 45,000 exclusive and independent agents and approximately 19,000 employees. Farmers Insurance Exchange®, the largest of the three primary 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.
About 21st Century Insurance
For more than 60 years, 21st Century Insurance has taken pride in providing customers superior coverage and service while helping them save money on car insurance along the way. The insurer offers customers 24/7 customer service, detailed policy coverage options, quality claims service powered by Farmers and helpful ways to save on auto insurance.
SOURCE Farmers Insurance