Virtually all states currently have stay-at-home or shelter-in-place orders in effect and driving mileage has plunged as a result. According to State Farm, the largest U.S. auto insurer, driving mileage has plummeted 35% since March 21, 2020.

As a result, auto insurance firms are experiencing a financial windfall as driving accidents and related deaths have dropped dramatically. In response, insurers have launched money-back programs to combat the bad optics of raking in outsized profits while their policyholders are struggling financially.

While all auto insurers are providing some relief for premiums due in April and May, it takes different forms. Some are offering cash refunds, while others are offering premium credits. State Farm, Farmers, and 21st Century are providing customers with a 25% discount, while USAA and Progressive are offering 20% off. Allstate, Geico, Liberty Mutual, and Safeco are offering 15% discounts for these two months. While your practice is closed, take time to contact your auto insurance agent (for business and personal autos) to learn how you can benefit.

And while you’re at it, dial up your malpractice and workers’ compensation insurance carriers as well. If your practice has been closed, or has suffered dramatic revenue declines by providing emergency services only, you should be eligible for a premium refund or credit on these policies as well. Workers’ compensation premiums are based on annual salaries paid during the policy year, so you’ll likely be eligible for a premium reduction or rebate at years’ end. However, it doesn’t hurt to contact your agent to ask for some relief now.

Updated April 29, 2020. Originally published April 13, 2020.