The Farm Bureau® Insurance companies in Arkansas, Colorado, Florida, Louisiana, Mississippi and South Carolina Unveil Coronavirus Customer Assistance Program
Policyholders receive $30 million one-time credit, community food banks receive $2.3 million donation
Centennial, Colo. – April 15, 2020 – The Farm Bureau Insurance companies, leading providers of property and casualty insurance in Arkansas, Colorado, Florida, Louisiana, Mississippi and South Carolina, are offering a variety of financial assistance measures in response to unexpected hardships for their customers and the communities they serve due to the coronavirus (COVID-19) outbreak—including a one-time estimated premium credit of $30 million to policyholders, and a donation of $2.3 million to local food banks across their six state footprint.
“Everything we do is built around helping people. Insurance is a safety net designed to provide people comfort and peace of mind in the face of adversity—and now more than ever, people need to feel that peace,” said Cheryl Radke, Colorado Farm Bureau Insurance, state manager “These are some of the ways the Farm Bureau Insurance companies can give back to the communities we serve, and we are happy to fulfill that obligation of service.”
One-Time Premium Credit
The Farm Bureau Insurance companies are applying a one-time credit to all personal auto policyholders. This special credit is based on 15 percent of two month’s auto premium for each vehicle covered—an estimated value of about $30 million. No action needs to be taken by the customer to receive this special assistance. The Farm Bureau Insurance companies will simply credit their customers’ next invoice after the program begins. Some billing systems will issue a refund (check or EFT credit) on those policies paid in full.
The Farm Bureau Insurance founding mission is to feed and support the families that put food on our tables. In an effort to hold true to the core values of their organizations by providing relief to their communities in a time of need, the Farm Bureau Insurance companies have jointly decided to donate $2.3 million to local food banks across their six-state footprint.
About Colorado Farm Bureau® Insurance
Colorado Farm Bureau Mutual Casualty Company was established in 1950 and later became Colorado Farm Bureau Mutual Insurance Company. Nearly three-quarters of a century later, Colorado Farm Bureau Insurance Company has grown into a full-service provider of affordable auto, home and life insurance products and services—not just for farmers, but for all of Colorado.