Indiana Farm Bureau Insurance To Issue Premium Refunds During COVID-19 Pandemic
April 15, 2020 at 10:37 p.m.
By Staff Report-
“With fewer people on the road during pandemic-driven stay-at-home orders, we felt it was only right to refund some of our clients’ personal auto policy premium dollars,” said Kevin Murphy, senior vice president, property and casualty division. “Our Farm Bureau family made a commitment to protect your family, and we remain dedicated to that vision – even during this unprecedented pandemic.”
The amount of relief each client receives will be directly proportional to the number of vehicles they insure with Indiana Farm Bureau Insurance. For example, if a client has four eligible personal autos insured with IFBI, they will receive $80.
This action comes after Indiana Department of Insurance (IDOI) announced a 60-day moratorium on insurance policy cancellations for nonpayment of premium and assessment of late fees for any policyholder in Indiana. Indiana Farm Bureau Insurance implemented premium due date extensions from March 19 to May 18 for clients experiencing hardship as a result of COVID-19.
The premium refunds will be distributed to clients automatically by check or EFT, depending upon how they currently make payments; no additional action is necessary.
Indiana Farm Bureau Insurance has served Hoosiers for nearly 86 years. Organized in 1934 by Indiana Farm Bureau Inc., the company has grown to include insurance products for auto, life, home, business and farm. Banking and other financial services and products are also available through its local offices and online at www.infarmbureau.com.
“With fewer people on the road during pandemic-driven stay-at-home orders, we felt it was only right to refund some of our clients’ personal auto policy premium dollars,” said Kevin Murphy, senior vice president, property and casualty division. “Our Farm Bureau family made a commitment to protect your family, and we remain dedicated to that vision – even during this unprecedented pandemic.”
The amount of relief each client receives will be directly proportional to the number of vehicles they insure with Indiana Farm Bureau Insurance. For example, if a client has four eligible personal autos insured with IFBI, they will receive $80.
This action comes after Indiana Department of Insurance (IDOI) announced a 60-day moratorium on insurance policy cancellations for nonpayment of premium and assessment of late fees for any policyholder in Indiana. Indiana Farm Bureau Insurance implemented premium due date extensions from March 19 to May 18 for clients experiencing hardship as a result of COVID-19.
The premium refunds will be distributed to clients automatically by check or EFT, depending upon how they currently make payments; no additional action is necessary.
Indiana Farm Bureau Insurance has served Hoosiers for nearly 86 years. Organized in 1934 by Indiana Farm Bureau Inc., the company has grown to include insurance products for auto, life, home, business and farm. Banking and other financial services and products are also available through its local offices and online at www.infarmbureau.com.
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