Personal lines auto carriers need to temporarily reduce their premiums for their customers. The exposure is down and daily commutes, school and kids related driving has stopped. As payrolls decrease, Work Comp carriers collect less premium. As personal lines auto exposure decrease so should the related premiums. Again, temporarily. Just think of the PR and customer loyalty created when GEICO, Progressive, Liberty Mutual come out with a commercial stating they are reducing a March, April, & May premiums due by ....lets say 25%.
Personal lines auto carriers need to temporarily reduce their premiums for their customers. The exposure is down and daily commutes, school and kids related driving has stopped. As payrolls decrease, Work Comp carriers collect less premium. As personal lines auto exposure decrease so should the related premiums. Again, temporarily. Just think of the PR and customer loyalty created when GEICO, Progressive, Liberty Mutual come out with a commercial stating they are reducing a March, April, & May premiums due by ....lets say 25%.