In April — and in response to the start of the COVID-19 pandemic — NJM Insurance Group announced it would be refunding some of the auto insurance premiums it had collected due to the massive decrease in driving.
The initial refund represented 15% of the equivalent of three months of drivers’ annual premium.
In an effort to provide further assistance to customers during a time when many continue to limit their driving, CEO Mitch Livingston announced Monday morning that the company will add two more months to the program.
The company said policyholders will receive the second refund either by check or as a credit to the bank account from which they make their payments. If you are enrolled in the company’s automatic payment plan, refunds will be issued over a three-week period beginning the week of July 13, the company said.
In simple math, the refund looks like this: If you pay $100 a month in auto insurance, NJM will return 15% of the amount (or $15) for each of two months — making it a $30 refund.
Livingston said the return of premium supports NJM’s underlying mission to serve customers, especially during extraordinary circumstances such as the coronavirus pandemic.