Friday, November 27th, 2020

Farm Bureau Insurance to issue premium refunds

Posted: Friday, April 17, 2020

Indiana Farm Bureau Insurance will give back more than $8 million in auto insurance premiums to their fellow Hoosier clients. The company will provide clients premium refunds of $20 per eligible vehicle insured.

“With fewer people on the road during pandemic-driven stay-at-home orders, we felt it was only right to refund some of our clients’ personal auto policy premium dollars,” said Kevin Murphy, senior vice president, property and casualty division. “Our Farm Bureau family made a commitment to protect your family, and we remain dedicated to that vision – even during this unprecedented pandemic.”

Indiana Farm Bureau Insurance (IFBI) is pleased to provide this relief to their clients during these unique times. The amount of relief each client receives will be directly proportional to the number of vehicles they insure with Indiana Farm Bureau Insurance. For example, if a client has four eligible personal autos insured with IFBI, they will receive $80.

This action comes after Indiana Department of Insurance (IDOI) announced a 60-day moratorium on insurance policy cancellations for nonpayment of premium and assessment of late fees for any policyholder in Indiana. Indiana Farm Bureau Insurance is pleased to have implemented premium due date extensions from March 19, 2020 to May 18, 2020 for clients experiencing hardship as a result of COVID-19. Indiana Farm Bureau Insurance is happy to provide this assistance and additional customer service to our members who have been affected by COVID-19.

The premium refunds will be distributed to clients automatically by check or EFT, depending upon how they currently make payments; no additional action is necessary.