Many people are experiencing hardship due to the efforts to slow the spread of the COVID-19 virus. That emerging trend is prompting Nationwide to offer a one-time premium refund of $50 per policy for personal auto policies active as of March 31, 2020.
The refund will arrive in the next 30 days, subject to individual state regulatory approval. It will be returned to customers in the last form of payment they have made, whether electronic or paper.
Nationwide CEO Kirt Walker says its simply the right thing to do.
“As a mutual company devoted to protecting people, businesses and futures with extraordinary care, we are offering this rapid relief at a time when drivers are making the right choice to stay off the road and remain home to help flatten the curve,” stated Walker.
The refund is equivalent to an average savings of 15 percent for two months and is on top of existing discounts customers already earn.
“Eligible customers don’t need to do anything,” said Nationwide Property & Casualty President, Mark Berven. “Refunds will automatically be credited to the customers’ most recent method of payment within the next 30 days.”
Helping customers and communities during the COVID-19 crisis
Nationwide has taken numerous steps to serve its customers since the onset of the COVID-19 crisis.
The company has already been extending payment terms for members experiencing hardship, providing immediate relief for customers looking for ways to make ends meet. The company stands ready to maintain business operations and serve the need of our customers and partners across the country, having moved to a work-from-home posture in mid-March.
To provide support for impacted communities, the Nationwide Foundation made $5 million in contributions to local and national charities to support pandemic response efforts.
“Taking the long view has helped see Nationwide and our members through challenging times for 94 years and, together, we’ll get through this one also,” Walker added.
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