GEICO To Return $2.5B To Customers Suffering From Coronavirus Fallout

GEICO has announced plans to "refund" about $2.5 billion to its customers in an effort to help those affected by the coronavirus pandemic.

Officials with the car insurance company say they'll give a 15 percent credit to approximately 18 million policyholders who renew between April 8th and October 7th. The credit will also apply to new customers. "While many things may feel out of our control, we're focusing on what we can control," a statement released Wednesday reads. "For our policyholders that are unable to make a payment due to COVID-19, we want you to know that we're here to help support you."

GEICO has also placed a hold on cancellations due to non-payment through at least April 30th, officials reveal.

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