Farmers Insurance has announced that it will provide relief to more than 115,000 of its business insurance customers under its Farmers Cares initiative. Business customers in the restaurant, office, retail and service sectors – which have been strongly impacted by the COVID-19 outbreak – will receive a 20% monthly credit on their business owner’s policy for the next two months on their upcoming premium notices.
“We understand how challenging running a business can be, particularly in these extraordinary times, and we want our business insurance customers to know Farmers cares and we want to help,” said Sharon Fernandez, president of business insurance for Farmers. “For the next two months, many of our business insurance customers will see a 20% premium reduction.”
The credit is in addition to other measures that Farmers has taken to help business insurance customers, including temporarily pausing policy cancellations due to non-payment.
Restaurant, office, retail and service business insurance customers do not need to take any action to receive the credit, Farmers said; it will be applied automatically.