BOSTON (WHDH) - Drivers may start saving money on their car insurance! It’s all due to the coronavirus outbreak— and some experts say the savings will add up to more than $6.5 billion nationwide.
Traffic has been drastically reduced these days with so many people staying home.
And with fewer cars on the road some auto insurance companies are giving drivers a price break since less driving means fewer chances for crashes and less risk.
“Risk is diminished. They want to provide some incentive back to consumers, so some needed relief during this time,” Nick Fyntrilakis, president of the Massachusetts Association of Insurance Agents said.
The refunds are voluntary and the Massachusetts Division of Insurance and attorney general Maura Healey are encouraging all auto insurance carriers to consider rebates.
“When people are struggling, and people are out of work it’s really important that we come together and that companies come together to try to get creative about and ways to help people. That’s what this is about, “Healey said.
We found some money-saving measures are already in the works:
Allstate Insurance and Liberty Mutual Insurance say most customers will get about 15% off two months of premiums.
And Geico insurance says it “expects credits to average about $150 per auto policy”
“Usually consumers are pretty happy when they hear about a check coming in the mail or a discount on their renewal,” Fyntrilakis said.
Insurance industry insiders tell us, though it’s not required, more insurance companies are filling for rate reductions each day. If you want to find out what your carrier is doing give them a call.
Click here for more coronavirus coverage.
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Some auto insurance companies looking to give drivers refunds amid coronavirus pandemic - Boston News, Weather, Sports | WHDH 7News
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