Dave’s here for you: insurance, student loans and utilities

As we enter the second month of coronavirus, many people are starting to deal with paying bills while having a reduced paycheck or no paycheck at all. So, this week, Dave’s put together some resources to help you handle things like insurance, student loans and utility bills.


Insurance may be more important than ever before right now. But paying that monthly bill could be a problem due to the pandemic. Fortunately, some insurance companies are trying to make things a little easier for people who need some extra help.


If you have home or car insurance with Allstate, they’ll let you pause payment for two consecutive billing cycles or you can choose to pay less than your usual bill. Then, that unpaid balance will be spread evenly across your remaining payments for the year. They’ve also suspended cancellations if you can’t pay during the current emergency.


They’ve paused all cancellations until May 1 for customers who can’t pay and you won’t have to pay late fees. After May 1, you’ll still have to pay the full balance that builds up during this time though.


They’ve suspended coverage cancellations as well as policy expirations through April 30 if you aren’t able to pay. After April 30, you’ll still have to pay the full balance that builds up during this time though.

Liberty Mutual

Liberty Mutual extended payments for their car and home insurance customers and is waiving late fees.


MetLife went ahead and extended its grace period to a minimum of 60 days for people to make late payments without losing coverage.


Progressive’s pausing all cancellations and nonrenewals from April 1 through May 15 and helping people with payments. Just as a heads up though, their system is struggling a bit so your account might still show the payments as due during this time.


They’ve automatically paused late fees and the cancellation of policies due to nonpayment until July 17 for their auto and property insurance customers.
If you have a USAA Medicare Supplement plan, they’re also waiving deductibles and copayments for COVID-19. In fact, if you were tested after February 4, they’ll reimburse you for the cost if you had to pay for it at the time.

Student loans

According to Forbes, 45 million people collectively owe nearly $1.6 trillion in student loans in the U.S. Fortunately, the Department of Education has suspended federal student loan payments and is also waiving interest for at least the next two months.


As we all continue social distancing, being able to use the internet and our phones is more important than ever. Here’s what some utility companies are doing to help people whose paychecks have been impacted by coronavirus.


They’re suspending the cancellation of phone and internet services for customers who can’t pay their bills due to coronavirus. They’re waiving late fees and giving free access to its public WiFi hotspots.


Comcast is giving everybody, including non-subscribers, free access to its XFinity WiFi hotspots for 60 days as well as giving unlimited data to its customers. They’re also waiving late fees and pausing internet cancellations for people who can’t pay their bill.


For the next 60 days, they’ve given unlimited data to all their current customers who have plans with data.


They’re waiving late fees and pausing service cancellations for people impacted by the current crisis.

Hope this information helps make your days a little easier. Stay healthy!

- Dave

*Views and opinions expressed in this forum are for informational purposes only. No material here constitutes investment or legal advice nor is it a recommendation to buy or sell any financial instrument. Consider your own financial circumstances carefully before making a decision and consult with your tax, legal or estate planning professional.

The Dave Team

The Dave Team