COVID-19 impact drives $20.7M in insurance refunds, state says

csimt COVID-19 Updates, In The News

By: Phil Drake

Montanans are getting nearly $20.7 million in refunds and other savings from insurance companies due to impacts from COVID-19 restrictions, the state auditor’s office said this week.

Dozens of insurers are giving money back on almost 500,000 Montana policies, said Matt Rosendale, Montana’s commissioner of securities and insurance.

He said most savings are coming on personal auto insurance policies, as vehicle travel has decreased due to COVID-19-related closures and people staying home. Some savings are also coming from other types of insurance, including commercial auto, homeowners, liability and medical malpractice, Rosendale said in a news release.

“More than half of Montana adults are already seeing insurance savings, or will be soon,” he said.

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