With the decrease in driving due to the pandemic and quarantine, carriers realized that claims would be lower as people were not driving as much. Many even gave back premiums to clients.
As the world grapples with returning to life un-quarantined, some are questioning why their rates should return back to their original premium. Those who are permanently working remotely will likely be driving much less, so shouldn’t they pay less?
There is a fix for that! If you drive safe, within the speed limit, and relatively short distances or infrequently, usage based insurance may be right for you! The agents at iSCHURING can help you determine which carriers and products will be right for you based on your specific circumstance.
Note that while usage-based insurance is a great option, you will have to have tracking information either on your phone or in your car that will relay information onto your carrier. Each carrier will have their own version of this usage tracking. Your agent can better explain the implications of these devices.
iSCHURING’s Resource Center is meant to provide an overview of the topic, rather than an in-depth review. When deciding how this information applies to your specific situation, we recommend discussing with an iSCHURING licensed insurance agent. Any information provided at iSCHURING may also need to be reviewed by an attorney or tax consultant to determine the best course of action for your unique situation. No information may be copied, reprinted or otherwise reproduced without the expressed written consent of iSCHURING.com.