Mountain Times- Volume 49, Number 18 - April 29 - May 5, 2020

14 • NEWS BRIEFS
The Mountain Times • April 29 - May 5, 2020
State approves additional plans to refund auto insurance
premiums, saving Vermonters over $14 million
Governor Phil Scott and Department of Financial
Regulation (DFR) Commissioner Michael Pieciak announced
April 22 that more than 40 additional auto insurance
companies have filed plans to return premiums
or reduce their rates for Vermont policyholders. DFR has
moved quickly to approve these plans, which amount to
over $14.6 million in savings
for Vermonters to date.
All Vermont-based auto
insurance companies,
along with most major
out-of-state insurers, have
developed refund plans
for Vermonters, which
combined, represent approximately 90% of all personal
auto policies in Vermont. Each of these insurers has seen
a reduction in claims as Vermonters do their part to stay
home to comply with the Governor’s “Stay Home, Stay
Safe” directive.
“I’m grateful the insurance industry is acknowledging
the reduced risk of auto claims as a result of the ‘Stay
Vermonters can expect to receive
a credit on their auto insurance
statement, a refund check or a
reduced rate when renewing.
Home, Stay Safe’ order,” said Governor Scott. “These
reduced rates provide additional relief at a critical time
for many Vermonters, and I appreciate the Department
of Financial Regulation’s ongoing work with industries
to help save Vermonters money.”
The premium savings will vary depending on the
company; however, most
Vermonters can expect to
receive a credit on their
auto insurance statement,
a refund check or a reduced
rate when renewing their
policy. At this time, most
relief will be in the range of
15-20% for a period of two or three months.
Two Vermont-based insurers, Vermont Mutual and
the Cooperative Insurance Company, will also provide
auto-insurance customers with the choice to donate
their refund to one of several charities assisting with
local Covid-19 relief efforts. A third Vermont-based
insurer, Union Mutual, has partnered with local businesses
to provide food for the homeless, as well as for
medical workers and nursing home staff members in
Vermont.
“I really appreciate these insurers stepping-up to
provide premium relief during this challenging time,”
said Commissioner Pieciak. “I am particularly pleased
that our Vermont-based insurers established these
innovative pay-it-forward options for worthy charities
confronting the Covid-19 crisis.”
Commissioner Pieciak continues to encourage
insurance companies to determine whether Vermonters
are overpaying and promptly file a plan with DFR if
that is the case. For a list of insurance companies with
DFR-approved premium savings plans, please visit dfr.
vermont.gov/document/dfr-approves-several-insurerplans-refund-auto-insurance-premiums.
DFR’s approval also provides flexibility to further reduce
premiums if similar driving habits continue. As the
pandemic evolves, DFR will continue to monitor insurers’
experience and finances to ensure that Vermonters’
rates are not excessive compared to changing risks.
Real estate: Industry looks to rebound as restrictions lift
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from page 4
We are working to adjust to the executive
orders from the governor and to make sure
our agents, buyers and sellers will feel safe.
We are currently open by appointment only
and hope to move to a more open situation
in the near future.”
Expectations for future
While second quarter sales activity is
down and there is still uncertainty as to
when restrictions like social distancing
and wearing masks might be lifted, agents
expect sales will pick up. They also foresee
a possible surge of interest among out-ofstaters
once hotel restrictions are lifted and
people can stay here without quarantining
for 14 days.
Silber said she expects to see a surge
in interest among out-of-staters in
Rutland Region properties, noting that
“immediately after 9-11” she had “three
clients from New York purchase homes”
in the area. Some will move to Vermont
permanently because they are able to work
remotely and because we have airports in
Rutland and Burlington for the necessary
occasional business trip, she said. She also
noted a need for internet and cell service,
stating that she foresees it continuing to be
a requirement.
Bomogen also commented on the
definite uptick in demand for Killington
properties after 9-11 and feels something
similar may occur in the future. But asked
about potential hurdles to that, she noted
a new uncertainty due to the pandemic
causing a loss in investments and jobs.
Some may not have the discretionary
income for a vacation home as a result,
but if things improve, that interest could
potentially be seen over a longer period of
time, she opined.
Still the idea of Vermont being perceived
as a safe haven seems realistic to her, and
she also thinks there could be a slow down
of people traveling to western ski resorts
due to a reluctance to be in congested
airports or ride on airplanes for a while.
That could bring more business as
Killington is a drive market, she noted.
Kershner also foresees an increase in
interest among out-of-staters. People
perceive Vermont to be a “safe haven” due
its rural nature. “Without question, we
are seeing interest in Vermont properties
now from buyers in the densely populated
metropolitan areas of the northeast,” he
said.
“A key consideration for those buyers
is internet connectivity. With so many
employees working from home today,
many seem to be experiencing the
epiphany that they could just as readily
work from the safety and serenity of a
Vermont home as they can from their urban
locations. But broadband, high-speed
internet infrastructure is imperative for that
dream to become a reality,” he noted.
“Some newspaper articles are saying
city dwellers want to move to more rural
areas, so that should mean buyers will
come,” agreed Bianchi.
According to a recent report in the Wall
Street Journal and comments made on
CNBC’s “Closing Bell,” there is more interest
in rural than urban properties now. “We
have seen that people are more interested
in that house at the foot of the mountains
by the lake,” said Glenn Kelman, CEO of the
national real estate brokerage Redfin, on
CNBC’s “Closing Bell.”
He reported that “Rural demand is much
stronger right now than urban demand,
and that’s a flip from where it’s been for
the longest time, where everybody wanted
to live in the city. We’ll see how it comes
back, but there seems to be a profound,
psychological change among consumers
who are looking for houses.”
Citing so many unknowns and
uncertainties about changes to come,
these agents noted that it’s impossible to
predict a return to “normal” for real estate
transactions, but they are optimistic that the
needs of people for selling and buying can
be met and that this region will continue to
see keen interest among out-of-staters.
Killington Food Shelf is fully stocked
The Killington Food Shelf, located at the Little White Church, is fully stocked with
non-perishables, paper products, and pet food. If you or someone you know is in need
you can contact Nan Salamon at 422-9244 or Ron Willis at 422-3843 to schedule a time
to visit. You do not have to be affiliated with the church to take advantage of the food
pantry. It was started during recover from Hurricane Irene and continues to meet the
needs of people who are going through tough times and need a bit of assistance. We
can put a bag of groceries together for you or let you know what is available and you
can tell us what you can use. We are here and happy to help!
Asking for help isn’t
easy. But these times are
unlike anything our community
has ever seen.
That’s why the Woodstock
Area Relief Fund
(WARF) has made getting
money for household
necessities as simple as
possible.
The Woodstock Community
has a long history
of coming together
during tough times.
And that’s what WARF is
about: neighbors helping
neighbors. “So even if
you’ve never asked for
Courtesy of WARF
help before, you can feel
comfortable reaching out
to us,” WARF stated.
More than 160 neighbors
and 50 friends from
other states have contributed
over $215,000 so far
to help those in the Windsor
Central Supervisory
Union. All the money will
go toward grants of up to
$1,000 for those needing
help with rent, groceries,
and other household
expenses. Thus far, WARF
has assisted over 70
families.
For those in need,
With
$215,000
so far ...
WARF has
assisted
over 70
families.
Woodstock Area Relief Fund can help
area residents in need
simply fill out a form at
woodstockcommunitytrust.com/covid-19.
Then a WARF volunteer
will verify your information
and point you toward
resources that may
be helpful. WARF has
received almost 100 applications
for assistance
from Barnard, Bridgewater,
Killington, Pomfret,
Plymouth, Reading, and
Woodstock and has funds
to help many more.
For more information
visit woodstockcommunitytrust.com/covid-19.