Quite often these days, vehicle-filled garages, driveways, and parking spaces are more the norm now that most Americans sparingly use their cars. Gasoline prices have tumbled because of the huge decrease in demand in the wake of social distancing and stay at home orders.
A silver lining in stay-at-home
Although we would rather go to jobs and resume our previous routines, which likely include driving more, some of us may get a little good news because of our temporary change in driving habits. Because of the drastic reduction in miles that most of their customers drive these days, several insurance companies are refunding a portion of auto insurance premiums.
A gamble for loyalty
This move, reported by a Michigan media outlet, shares the savings from their customers’ reduced exposure to risk. Giving reimbursements to customers is a value-added approach by these companies and can be seen as a move to increase rate transparency. They hope that providing a high level of customer service and responsiveness to what consumers are going through will drive insurance brand loyalty.
Try a little flexibility
No matter if you are an individual or a corporation, flexibility is a great quality to have at this unpredictable time. Even if your insurance company does not have a premium reduction because of the epidemic, they are likely to be flexible with you if you inform them of the hardships you face. It is possible that they may make extended arrangements with you for premium payment and waive cancellations of policies for a limited amount of time.