As COVID-19 was beginning to make its mark in the United States, it became clear that quarantine was inevitable for most Americans. Except for those deemed “essential workers”; many employees were forced to leave their jobs and either work from home or collect unemployment checks. Federal stimulus aside, the financial toll this pandemic has caused for many continues to be evident.
In March and April, the insurance industry began responding to this crisis by discounting personal auto insurance premiums. They recognized that vehicles were not being used in the same capacity as they had been before the quarantine, and so some rate adjustments were in order. Although the adjustments varied by company, they were generally around 15-20% for April and May.
Goodville Mutual, who has a substantial relationship with FIFS, responded to the quarantine a bit differently. They first wanted to recognize that many people were hurting financially, and they too discounted auto policies like most companies through a safe@home credit. They also realized that many people were fortunate to remain working during the shutdown, or had the financial resources needed to weather the storm. So, they asked insureds who could afford to do so, to forgo their safe@home discount and direct it to charity instead.
Goodville Mutual set up a fund to benefit regional food banks, first responders, healthcare workers, and international relief. Insureds could designate which category they would like their refund to support. Goodville Mutual then committed $100,000 in matching funds to this effort. This process allowed Goodville Mutual to accomplish their goal of being socially responsible while still providing relief to those who need it.
Throughout July, Goodville has been sending donations from the safe@home credit matching fund to various organizations and first responders within the communities Goodville serves and beyond. Harleysville Community Fire Department was selected as a first responder recipient of the funds. Chad Yoder of FIFS presented a check to Kevin Wasson, Fire Chief for Harleysville Community Fire Department. Kevin noted that this pandemic has changed the way fire departments receive donations. “Many donors who often give annually may not be able to do so this year, or at least at the same levels as in the past,” said Kevin. “This gift will serve to help fill that void.”
Goodville Mutual Casualty Company is based in New Holland, PA.