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Saturday, Nov 26, 2022
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AAA Returning $125M in Premiums

Costa Mesa-based Automotive Club of Southern California will refund $125 million in premiums to auto insurance policyholders for the period March 16 to May 15.

All-told the company expects to give back $362 million this year due to reduced driving and claims because of stay-at-home and shelter-in-place orders.

Auto Club Enterprises Insurance Group insures more than 3.5 million vehicles through AAA providers in 21 states.

Auto insurers have begun such refunds industrywide. State Farm is giving back up to $2 billion; USAA is refunding about $500 million; Geico’s account credit is 15% to policyholders renewing between April and October.

Auto Club also said it will give free roadside assistance services to medical personnel and front-line first responders, and donate $1 million to United Way.

Go here for more updates on how OC companies are responding to coronavirus.

For ongoing, in-depth coverage of coronavirus effects on OC businesses, see the Monday print edition of the Business Journal.

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