USAA to Return Nearly $20M to Louisiana Policyholders this Year

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BATON ROUGE – Louisiana Insurance Commissioner Jim Donelon said his office is commending USAA for returning an additional $270 million dividend to auto insurance policyholders across the country in August. This dividend follows an earlier announcement that USAA provided dividends nationwide totaling $800 million earlier this year. In total, USAA will return $1.07 billion to its policyholders. Louisiana policyholders will see a total of $19.5 million in dividends this year.

“Louisiana policyholders have seen over $210 million in rebates or refunds since the start of the pandemic crisis as well as premium decreases from some of our largest auto insurers,” said Donelon.  “I welcome these decisions to provide additional dividends to policyholders in Louisiana where we have experienced a significant impact from the Covid-19 virus.”

At the time of publication, the insurers in this table have announced or provided the Louisiana Department of Insurance with the details of a rebate or rate reduction program by insurers who provide coverage to 98% of Louisiana’s insured drivers. These rebates and rate reduction programs are a result of policyholders driving less miles resulting in fewer accidents and lower loss expenses for auto insurers nationwide during the ongoing pandemic. USAA policyholders will automatically receive the dividend as a credit applied to their auto and property insurance accounts in late August.

Categories: Alerts, COVID-19, Insurance, Today’s Business News

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