Here's exactly what relief auto insurance companies are offering drivers during the coronavirus pandemic

  • 📰 CNBC
  • ⏱ Reading Time:
  • 44 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 21%
  • Publisher: 72%

Business News News

Business Business Latest News,Business Business Headlines

Here's exactly what relief auto insurance companies are offering drivers during the coronavirus pandemic. (via CNBCMakeIt)

Sign in Sunset Beach, California advises motorists along Pacific Coast Highway to stay at home and maintain safe distances from each other amid Coronavirus worldwide outbreak.With millions under stay-at-home orders and working remotely, American roadways are seeing a lot less congestion and accidents. That means less risk of insurance claims — and auto insurers are taking note.

If you are somebody who's had a particularly significant drop in mileage, you may want to call your insurance company and ask to be re-rated as a lower mileage driver, says Doug Heller, an insurance expert with CFA. This would make sense for someone who used to have a 50-mile daily round trip commute who's now working from home and only driving to the grocery store once a week, for instance.

Don't just let your car insurance lapse with the intention of buying a new policy when stay-at-home orders are lifted. Many times, you will face a higher cost. "We definitely don't recommend people drop their coverage unless they're literally getting rid of their cars," Birnbaum says. CSAA will also pause cancellations for home and auto policies due to non-payment and offer flexible payment options through May 31, 2020.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

MakeIt Sign should say 'Don't crash into anyone cause we will have to shell out money and we van'y have that shit going on during this pandemic'

MakeIt

MakeIt Grange Insurance operates in 17 states and can’t make the article but Erie operating in 12 does. Poor research. Article should be edited to include Grange 25% reduction of April and May premiums as well.

MakeIt ☺️

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Life Insurance Companies Go To Plan B During The Coronavirus PandemicAmid health concerns and the inability to get life insurance medical exams done, many life insurers have had to go to “Plan B.” Here's how it affects shoppers: Hope it is a well thought plan and not just another Brad Pitt script.
Source: Forbes - 🏆 394. / 53 Read more »