BOWIE, Md. — Federated Mutual Insurance Co., the Tire Industry Association's member benefits partner, is planning to provide customers premium reductions for three months during the COVID-19 pandemic.
Federated said it will give a 15% credit toward business auto premiums, auto dealer/garage coverage part premiums and/or businessowners policy (BOP) premiums from March 15 to June 15. Policy holders will see the relief credit automatically applied in the upcoming months, Federated said.
Policies must be in force at the time the credit is applied, and actions are subject to regulatory approval.
TIA membership gives businesses access to Federated Insurance's property and casualty, workers' compensation and life and disability insurance policies.
Federated also said it is extending its grace period for lapsed payments to 60 days from 30 until June 23.
For more information about Federated Insurance, the COVID-19 Client Relief Credit and other Federated Insurance Covid-19 resources, visit federatedinsurance.com.