COVID-19 and auto insurance

Non-investing personal finance issues including insurance, credit, real estate, taxes, employment and legal issues such as trusts and wills
Post Reply
Topic Author
charis23
Posts: 63
Joined: Mon Jan 02, 2017 3:25 pm

COVID-19 and auto insurance

Post by charis23 » Wed Mar 25, 2020 12:54 am

If you are working from home now because of COVID-19, you should be able to contact your auto insurance company and say you drive a lot less. They will likely reduce your premium.

https://consumerfed.org/press_release/s ... -premiums/

sport
Posts: 8925
Joined: Tue Feb 27, 2007 3:26 pm
Location: Cleveland, OH

Re: COVID-19 and auto insurance

Post by sport » Wed Mar 25, 2020 11:04 am

charis23 wrote:
Wed Mar 25, 2020 12:54 am
If you are working from home now because of COVID-19, you should be able to contact your auto insurance company and say you drive a lot less. They will likely reduce your premium.

https://consumerfed.org/press_release/s ... -premiums/
I just spoke to my State Farm agent about this. I am retired and do not commute, so there is no adjustment for me. However, with the decrease in overall driving by everyone, he told me it is likely that SF will either have lower premiums next year, or they may issue a dividend check.

mikep
Posts: 3709
Joined: Wed Apr 22, 2009 9:27 pm

Re: COVID-19 and auto insurance

Post by mikep » Wed Mar 25, 2020 11:12 am

I called mine and they told me the premium is based on the previous years annual mileage. They offered to take my odometer reading now and again in 6 months, and will adjust at that time. Of course I'll probably be hopefully back to driving as usual in 6 months, but I'll tell them "it should be based on previous year's annual mileage" like they are telling me now.

matti
Posts: 43
Joined: Thu Mar 07, 2013 9:17 pm

Re: COVID-19 and auto insurance

Post by matti » Wed Mar 25, 2020 1:51 pm

Thanks for the tip!

I just called my insurer and they said "sorry, since we don't rate based on mileage in your state, driving less miles will not impact your rate." At least it was worth a shot. Thanks again.

knibloe
Posts: 3
Joined: Fri Mar 27, 2020 10:29 pm

Re: COVID-19 and auto insurance

Post by knibloe » Fri Mar 27, 2020 10:49 pm

My son has his car rated as commuter. I am going to call them and see if there is a difference based on pleasure.

Post Reply