According to a press release from the Mississippi Insurance Department (MID), drivers across the state will receive credits totaling $60,815,207 from auto insurers after a number of companies have filed requests with the department.
Return premiums related to the COVID-19 pandemic listed in the press release from MID ranged from 15 to 30 percent, meaning savings for Monroe County policy holders.
Mark McGowan, Monroe County Farm Bureau manager, said $50 rebates for two months will be reflected in June billings. He also said in addition to customer rebates, Farm Bureau donated $500,000 to Mississippi food banks.
“We realize that in times like this, people are driving less and struggling with job losses, and the company is doing its share to respond,” he said.
According to the press release, Farm Bureau’s projected return premiums will total $5.8 million across Mississippi.
McGowan reported little impact from the pandemic on day-to-day business at his office. He said there is no way of knowing how long the savings may last, however.
“We’ll know more in the months ahead,” he said.
According to the MID, State Farm is returning 25 percent, or…
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