The COVID-19 pandemic brought commuter traffic and travel in general to a screeching halt. With many people still out of work, working from home, and delaying trips, there is an opportunity for people who are driving less to save on their car insurance.
Here’s some savings opportunities YUR agents have identified:
Decrease Usage Savings
Car insurance is based on the US average of about 12,000 miles driven per year. For many people that number was drastically reduced in 2020. Low-mileage auto insurance exists for people who don’t meet the national average. Most providers require drivers to be under 7,500 miles per year to qualify for low mileage coverage. For many people who are still working from home and may be well into the future, there’s potential for big savings. Although not all car insurance providers offer low-mileage insurance options, several of the companies we work with through The Yurconic Agency do, and we can help you take advantage of their savings.
Changing from Car from Commuter to Pleasure
For most drivers there are two key options when it comes to insuring your car: commuter or pleasure. Commuter denotes the car is your primary method of transportation to a job or to school. A pleasure-use vehicle is any car that you are not using to drive to and from work five days a week or using to take children back and forth to school five days a week. Pleasure use insurance does have a small savings over commuter-use vehicles so if you have a vehicle you are not using as your primary mode of transportation due to virtual school or working remotely, it may be worth calling YUR agent to update your policy.
The use of telematics has been increasing across the board for insurance companies. These in-car tracking devices are used to monitor how you drive and report back to the insurance company to provide a more accurate rate. They look at factors like speed, mileage, and time spent driving and allow insurance plans to make decisions based on your actual driving data rather than your credit score or location. This method of determining insurance rates often incentivizes good drivers who exhibit safe driving habits!
Interested in learning more about how YUR agents can save you money on your policy? Contact us today!