If you are an auto insurance policyholder with AAA, you are in for some good news. AAA has announced that it will be providing a 20 percent premium refund to its auto insurance policyholders due to the COVID-19 pandemic. This is a great initiative by AAA to help its policyholders during these tough times.
What is AAA?
AAA (American Automobile Association) is a non-profit federation of motor clubs throughout North America. It provides roadside assistance, travel services, and other benefits to its members. AAA also offers auto insurance to its members.
Why is AAA providing a premium refund?
The COVID-19 pandemic has resulted in a significant decrease in driving as people are staying at home due to lockdowns and social distancing measures. As a result, there have been fewer accidents and claims filed. AAA has decided to pass on the savings to its policyholders by providing a premium refund.
How much premium refund will you get?
If you are an AAA auto insurance policyholder, you will get a 20 percent premium refund on your policy for the period March 16, 2020, to May 15, 2020. This refund will be automatically credited to your account. You do not have to take any action to receive the refund.
Is everyone eligible for the premium refund?
If you are an auto insurance policyholder with AAA on May 15, 2020, you are eligible for the premium refund. The refund will be based on the premium you paid during the refund period (March 16, 2020, to May 15, 2020).
What if you have already canceled your policy?
If you have already canceled your AAA auto insurance policy before May 15, 2020, you are not eligible for the premium refund.
What if you have paid your premium in full?
If you have paid your premium in full, you will receive a pro-rata refund of the premium for the refund period (March 16, 2020, to May 15, 2020).
What if you have a multi-vehicle policy?
If you have a multi-vehicle policy with AAA, you will receive the premium refund on each vehicle covered under the policy.
What if you have a business auto policy?
If you have a business auto policy with AAA, you will receive the premium refund based on the premium you paid for the policy during the refund period (March 16, 2020, to May 15, 2020).
Conclusion
The 20 percent premium refund by AAA is a great initiative to help its auto insurance policyholders during these difficult times. If you are an AAA auto insurance policyholder, you can expect to receive the refund automatically credited to your account. This refund will provide some relief to policyholders who are facing financial difficulties due to the COVID-19 pandemic. We commend AAA for taking this step to support its policyholders during these challenging times.