Undeniably, the COVID-19 pandemic has altered the lives of Americans. The pandemic either left them jobless or reduced income. Statistics showed that the rise of the unemployment rate recorded from March to May 2020 was higher than those recorded in the 2007-2009 Great Recession.
Increase in Auto Insurance Quote Requests
The number of auto insurance quote requests swelled this year compared to requests recorded last year. From March to August 2020, online auto insurance quote requests registered an average increase of 147% compared to the same period last year.
COVID-19 might be the primary driver in the surging demand for auto insurance quotes. Millions of Americans are unemployed, while others have lesser income nowadays. More Americans are looking to cut back costs on some of the premiums that are regularly paying. One way they are eyeing right now is to trim down their auto insurance payments and save a couple of dollars from it.
Auto Insurance Quotes and COVID Cases
Car owners residing in California, Georgia, and New York have the highest request for auto insurance quotes. The three states also have the highest number of COVID cases in the country. It is no coincidence since the virus's adverse economic impact correlates with the swelling number of auto insurance quote requests. A good example is California, which has the greatest number of COVID cases in the country and recorded the highest increase in car insurance quotes.
On the Positive Note
Vehicle owners admitted that they are not driving their cars as often since the start of the pandemic. However, despite using their vehicles much less, car owners do not consider letting go of their auto insurance. Many of them still want to have their car insured but at a lesser price.
People are experiencing financial difficulties and implementing cost-cutting measures to help them get through the pandemic. But the eagerness of car owners to retain their car insurance is good news to the auto insurance industry and a bright spot in these difficult times. There is no argument that auto insurance companies will prefer to obtain fewer insurance payments than losing it entirely.
At Black And Associates Insurance, we do our best in making sure that our clients are well-protected with affordable and comprehensive policies. We make sure to go the extra mile to help you with your needs. To learn more about how we can help you, please contact our agency at (509) 464-0058 or Click Here to request a free quote.
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