As part of GEICO’s ongoing efforts to assist customers during this unprecedented time, the company announced the GEICO Giveback which provides a 15 percent credit to all auto and motorcycle customers as policies come up for renewal, between April 8, 2020 and October 7, 2020. This credit will also apply to any new policies purchased during this period as part of our commitment to protecting the wellbeing of our customers, said Todd Combs, President and CEO.
Current customers can expect to see the credit when they renew. Customers do not need to take any action to receive this credit.
The credits are expected to average $150 per auto policy and $30 per motorcycle policy. With roughly 18 million auto policies and 1 million motorcycle policies in force, we are proudly providing a total benefit of approximately $2.5 billion to our customers.
Last month, they announced that we’re pausing cancellations of coverage due to non-payment or policy expiration through April 30, 2020 or later as directed by your state. Beyond that, they are offering flexibility to policyholders who need special payment options.
The company has transitioned nearly all of its associates to work from home so they can be available to assist customers.
