BOSTON, April 7, 2020 /PRNewswire/ -- As part of its response to the unprecedented coronavirus (COVID-19) pandemic, Liberty Mutual Insurance today announced its Personal Auto Customer Relief Refund, which gives personal auto insurance customers a 15% refund on two months of their annual premium. This returns approximately $250 million to Liberty Mutual and Safeco personal auto insurance customers and builds on other customer support, including flexible payment options and delivery coverage expansion for auto policies.
"For more than a century, we've made it our goal to be there for people when they need us most," said Liberty Mutual Chairman and Chief Executive Officer David Long. "Today, more than ever, we recognize the uncertainty and financial challenges our customers are facing. We remain dedicated to serving our customers during this unprecedented pandemic, and we hope our premium relief and other actions we have taken offer support and help to alleviate some of their worries."
Personal Auto Customer Relief Refund
Personal auto insurance customers will receive a 15% refund on two months of their annual auto premium as of April 7, 2020, pending regulatory approval.
The refunds will begin in April, and will be issued either by check or in the manner the customer made their most recent payment.
The payments will happen automatically and customers do not need to call Liberty Mutual to receive the refund.
Payment Flexibility Options
Late fee charges have been automatically stopped and cancellations due to non-payment have been temporarily paused for personal auto and home customers from March 23 through at least May 22, 2020.
We continue to work with individual customers to extend payment dates if needed and provide personalized support.
Delivery Coverage Expansion for Auto Policies
All personal auto policies have been expanded to cover customers who use their personal vehicles to deliver food and medicine. Standard Safeco personal auto policies typically exclude such coverage.
This additional protection is in effect for all personal auto policies in all states for losses occurring from March 16 to May 22, 2020, and reported by July 1, 2020.
About Liberty Mutual Insurance At Liberty Mutual, we believe progress happens when people feel secure. By providing protection for the unexpected and delivering it with care, we help people embrace today and confidently pursue tomorrow.
In business since 1912, and headquartered in Boston, today we are the sixth largest global property and casualty insurer based on 2019 gross written premium. We also rank 75th on the Fortune 100 list of largest corporations in the U.S. based on 2018 revenue. As of December 31, 2019, we had $43.2 billion in annual consolidated revenue.
We employ over 45,000 people in 29 countries and economies around the world. We offer a wide range of insurance products and services, including personal automobile, homeowners, specialty lines, reinsurance, commercial multiple-peril, workers compensation, commercial automobile, general liability, surety, and commercial property.