Hello @libby909, thanks for your question. Policyholders may start seeing the auto policy dividend credit on their P&C Bill as early as April 26. Starting April 27, email or mail communication will be sent with the total amount the policyholder can expect to see on their P&C Bill. If the credit balance is $500 or less, the credit will be held for the next three billing cycles and, if a credit remains on the account, the credit is systematically refunded on the fourth billing cycle. If the credit balance is greater than $500, the credit is systematically refunded on the next billing cycle. Please stay safe. -Paula
Hi @libby909, that's right if the credit is $500 or less. Once the credit is applied, please reach out to us via chat on USAA.com from the Contact USAA option or on our mobile app with any questions. -Paula
I'm confused by your answer, as well. We pay our auto/boat/homeowners/VPP/umbrella policy monthly as a combined total. I just read the announcement on the front page of your website that said it was posted two weeks ago.
Here is the exact post:
SAN ANTONIO – USAA, the country’s fifth largest property-casualty insurer, will be returning $520 million to its members. This payment is a result of data showing members are driving less due to stay-at-home and shelter-in-place guidance across the country. Every member with an auto insurance policy in effect as of March 31, 2020, will receive a 20% credit on two months of premiums in the coming weeks.
I just received my latest statement dated 4/21/20 that says my normal payment of $824.45 is still the same for the 5/5/20 payment. I was really looking forward to some sort of discount on this statement, since it said that the 20% credit will be applied in the coming weeks. Is it going to be applied retroactively? We've been in this pandemic for many weeks now and everyone is suffering financially, so I'm wondering if this is just a marketing gimmick or whether USAA is really going to lower member's bills in time to help them during this pandemic.
I appreciate you reaching out @TwinsRUs. The credit is in the works and policyholders may start seeing the auto policy dividend credit on their P&C Bill as early as April 26. Starting April 27, email or mail communication will be sent with the total amount the policyholder can expect to see on their P&C Bill. Thanks for your membership and please contact the USAA team via chat on USAA.com from the Contact USAA option or on our mobile app for help with billing questions. -Paula