08 Apr Refunds on Florida Auto Insurance
The one thing you may not be missing these days is your commute to work! When you’re stuck in bumper-to-bumper traffic on I-95, surrounded by whacky weavers or blocked by slowpokes in the fast lane, you’re probably grateful that you have a good Florida auto insurance policy. But when your morning commute is just a matter of a few steps across your living room in Lake Worth, auto insurance might not seem like a top priority.
Staying home to stay healthy and help stop the spread of Covid-19 comes with many challenges. Being able to avoid rush hour traffic could be an unexpected by well-deserved bonus.
But it’s not just the commute to work that you’re missing out on. The restaurants, bars, movie theaters, shopping malls and gyms are all closed as part of the important effort to stop the spread of Covid-19. The grocery store is one of the few places you go.
The stay-at-home orders mean we’ll all be safer. They also mean we’re driving less. A lot less.
Auto Insurance Companies Offering Refunds
The folks at NerdWallet explain what staying at home means in terms of auto insurance – from Boynton Beach to Boise. “In a report published in March, the Society of Actuaries — the folks who do the math behind insurance — said, ‘Increased social distancing and remote work may lead to less auto coverage exposures and potentially to less auto insurance claims.’ In short,” NerdWallet says, “fewer accidents means fewer payments for insurers to make.”
Some states are reporting that traffic is down as much as 50 percent. And as NerdWallet says, “Fewer cars on the roads means fewer accidents.”
With their exposure to risk reduced, most auto insurance companies in Florida have announced plans to issue refunds to their policyholders.
If you want more information about what you can expect from the company you have your car insurance with, the Lantana-based insurance experts at B&B Car Insurance Agency will be happy to help.